Accra, March 19, — Sammy Gyamfi, Chief Executive Officer of the Ghana Gold Board (GoldBold), has praised Dr Johnson Pandit Asiama and his team for stabilizing Ghana’s economy and reinforcing confidence in national reserves.
In a statement, Mr. Gyamfi highlighted the Bank of Ghana’s decision to diversify a portion of the country’s gold holdings as prudent, especially given recent volatility in gold prices. He noted that bullion values had fallen sharply from around $5,500/oz to $4,680/oz in recent weeks.
“Gold remains a safe-haven asset, but its prices can fluctuate significantly, creating risks for reserve preservation,” he said. He stressed that Ghana, as a middle-income country with Gross International Reserves of just 5.7 months, must diversify reserves across asset classes to balance safety and liquidity.
Mr. Gyamfi emphasized that the conversion of approximately 22 tons of gold into U.S. dollars and subsequent investment had preserved the nation’s reserves while generating returns. “No national asset was lost. The decision mitigated the impact of the recent drop in gold prices on Ghana’s reserve position,” he stated.
He concluded by commending Dr. Asiama and the Bank of Ghana team: “Kudos to you and your team. Keep up the excellent work for Mother Ghana.”
GHBUSS
March 19, 2026
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