Finance Minister Dr. Cassiel Ato Forson says Ghana’s foreign exchange stability and strong gold-backed inflows are largely the result of the effective work of the Ghana Gold Board (GoldBod).
He described the state agency, which oversees the regulation and promotion of the gold sector, as a “game-changer” that has supported the cedi’s recovery and contributed to wider economic stabilization.
Ghana’s currency drew global attention earlier this year when it was ranked the world’s best-performing currency in April, appreciating by 16.7% against the US dollar.
Bank of Ghana Governor Johnson Asiamah told Reuters that the central bank has rebuilt its reserves to cover four and a half months of imports—an improvement from the critically low levels of 2022. He credited GoldBod for helping seal foreign-exchange leakages and ensuring more value remained in the economy.
The strengthened reserves have improved Ghana’s foreign exchange buffer, boosted investor confidence, enhanced fiscal credibility, and supported increased capital inflows. The central bank’s gold reserves rose to 37.06 tonnes by September 2025, driven by GoldBod’s domestic gold procurement efforts.
GoldBod’s model has also drawn continental recognition. In October, finance ministers from five African countries praised Ghana’s approach as a blueprint for resource-driven development. The meeting, held alongside the 2025 IMF–World Bank Annual Meetings in Washington, brought together ministers from Ghana, Liberia, Sierra Leone, The Gambia, and Sudan, as well as AfDB President Dr. Sidi Ould Tah.
Natural resource governance was a key highlight of the discussions, with Ghana’s GoldBod receiving particular commendation.
Since its establishment in March, GoldBod has generated about $8 billion by centralizing gold purchases and exports—ensuring that foreign currency earnings remain in Ghana. Its model continues to attract interest from other African countries looking to strengthen regulation, gold trading systems, and certification structures.
