The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has hit back at critics of both the government and GoldBod over what he described as “imaginary losses” being unfairly imposed on the surplus-making institution.

According to him, the actions of these critics are driven by a desperate desire to see the government and the Board fail.

In a post on his Facebook page on December 27, 2025, Gyamfi stated, “In their desperation to see the transformational GoldBod and the Mahama government fail, the doom-wishers have created ‘by force’ imaginary losses and are aggressively imposing them on the surplus-making GoldBod. How ridiculous.”

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He explained that the public must understand that the Domestic Gold Purchase Programme (DGPP) comes with intrinsic costs to the central bank, costs which, he said, critics had previously overlooked.

“They have soon forgotten the objectives, policy design, and costs associated with the DGPP they once touted, albeit with very little to show for it,” he added.

Gyamfi further noted that the policy justification for the DGPP is based on a careful analysis of “cost versus economic benefits,” emphasising that the current administration has delivered a strong economic record within a short period.

“Today, the doom-wishers are castigating the very administration of the Bank of Ghana that has delivered on its primary constitutional mandate of price stability and achieved in one year what they failed to do in eight years,” he said.

Check out Sammy Gyamfi’s Facebook piece below:







SP/MA

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