Accra: Finance Minister, Dr. Cassiel Ato Forson, announced that the establishment of the Ghana Gold Board, known as GoldBod, has successfully generated an additional $15 billion in foreign exchange inflows, significantly bolstering Ghana's external financial position. Presenting the 2026 Mid-Year Budget Review in Parliament, Dr. Forson emphasized that the GoldBod initiative has become a cornerstone of the government's macroeconomic stabilization efforts.
According to Ghana Web, Dr. Forson outlined how the reform, which complements the country's inflation-targeting framework, has been instrumental in fostering exchange rate stability and strengthening foreign reserves. The initiative aims to curb gold smuggling, formalize the gold trade, and ensure that a larger share of Ghana's mineral wealth benefits its citizens.
The Finance Minister revealed that the GoldBod initiative has led to a substantial improvement in Ghana's external accounts, notably increasing the current account surplus by 6.4 percentage points, from 1.9 percent in 2024 to 8.3 percent in 2025. This improvement represents a fourfold increase in the surplus within just one year, marking an unprecedented development in the nation's fiscal landscape.
Dr. Forson emphasized that the GoldBod initiative is not merely a policy targeting the mining sector, but a broader macroeconomic stabilization policy aimed at strengthening the cedi, building external buffers, and restoring confidence in the Ghanaian economy. In light of these achievements, the government has also initiated the Ghana Accelerated National Reserve Accumulation Policy, with the goal of increasing Ghana's international reserves to cover 15 months of imports by the end of 2028.