{"id":1098,"date":"2026-01-04T06:16:37","date_gmt":"2026-01-04T06:16:37","guid":{"rendered":"https:\/\/sencoproperties.com\/news\/?p=1098"},"modified":"2026-01-04T06:16:37","modified_gmt":"2026-01-04T06:16:37","slug":"imf-assertions-of-a-214-mill","status":"publish","type":"post","link":"https:\/\/sencoproperties.com\/news\/imf-assertions-of-a-214-mill\/","title":{"rendered":"IMF assertions of a $214 million loss in the BoG Gold-for-Reserve scheme are denied by GoldBod."},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of sencoproperties<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #990303;color:#990303\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #990303;color:#990303\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/sencoproperties.com\/news\/imf-assertions-of-a-214-mill\/#The_claims_made_in_the_International_Monetary_Funds_IMF_Fifth_Review_report_under_Ghanas_three-year_Extended_Credit_Facility_ECF_programme_that_the_Bank_of_Ghana_BoG_suffered_losses_of_roughly_US214_million_under_the_Gold-for-Reserve_G4R_programme_have_been_categorically_denied_by_the_Ghana_Gold_Board_GoldBod\" >The claims made in the International Monetary Fund&#8217;s (IMF) Fifth Review report under Ghana&#8217;s three-year Extended Credit Facility (ECF) programme that the Bank of Ghana (BoG) suffered losses of roughly US$214 million under the Gold-for-Reserve (G4R) programme have been categorically denied by the Ghana Gold Board (GoldBod).<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/sencoproperties.com\/news\/imf-assertions-of-a-214-mill\/#Other_stories\" >Other stories<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/sencoproperties.com\/news\/imf-assertions-of-a-214-mill\/#Ghanaians_Left_In_Shock_As_Cedi_Appreciates_With_Two_Days_Left_In_2025\" >Ghanaians Left In Shock As Cedi Appreciates With Two Days Left In 2025<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/sencoproperties.com\/news\/imf-assertions-of-a-214-mill\/#Accommodation_Insurance_Protect_Your_Stay_and_Finances_in_Ghana\" >Accommodation Insurance: Protect Your Stay and Finances in Ghana<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/sencoproperties.com\/news\/imf-assertions-of-a-214-mill\/#Travellers_Hotel_Insurance_Safeguard_Your_Journey_and_Stay\" >Travellers Hotel Insurance: Safeguard Your Journey and Stay<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/sencoproperties.com\/news\/imf-assertions-of-a-214-mill\/#Worlds_Top-Performing_Bank_in_October_2025\" >World\u2019s Top-Performing Bank in October 2025<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/sencoproperties.com\/news\/imf-assertions-of-a-214-mill\/#The_Ultimate_Guide_to_Loans_Everything_You_Need_to_Know\" >The Ultimate Guide to Loans: Everything You Need to Know<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_claims_made_in_the_International_Monetary_Funds_IMF_Fifth_Review_report_under_Ghanas_three-year_Extended_Credit_Facility_ECF_programme_that_the_Bank_of_Ghana_BoG_suffered_losses_of_roughly_US214_million_under_the_Gold-for-Reserve_G4R_programme_have_been_categorically_denied_by_the_Ghana_Gold_Board_GoldBod\"><\/span>The claims made in the International Monetary Fund&#8217;s (<a href=\"https:\/\/sencoproperties.com\/news\/?p=1098&amp;preview=true\">IMF<\/a>) Fifth Review report under Ghana&#8217;s three-year Extended Credit Facility (ECF) programme that the Bank of Ghana (<a href=\"https:\/\/sencoproperties.com\/news\/?p=1098&amp;preview=true\">BoG<\/a>) suffered losses of roughly US$214 million under the Gold-for-Reserve (G4R) programme have been categorically denied by the Ghana Gold Board (GoldBod).<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"option-bar\">\n<p>&nbsp;<\/p>\n<\/div>\n<div class=\"article-left\">\n<figure id=\"attachment_1100\" aria-describedby=\"caption-attachment-1100\" style=\"width: 1080px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1100\" src=\"https:\/\/sencoproperties.com\/news\/wp-content\/uploads\/2026\/01\/image-373.webp\" alt=\"IMF assertions of a $214 million loss in the BoG Gold-for-Reserve scheme are denied by GoldBod.\" width=\"1080\" height=\"720\" srcset=\"https:\/\/sencoproperties.com\/news\/wp-content\/uploads\/2026\/01\/image-373.webp 1080w, https:\/\/sencoproperties.com\/news\/wp-content\/uploads\/2026\/01\/image-373-300x200.webp 300w, https:\/\/sencoproperties.com\/news\/wp-content\/uploads\/2026\/01\/image-373-1024x683.webp 1024w, https:\/\/sencoproperties.com\/news\/wp-content\/uploads\/2026\/01\/image-373-768x512.webp 768w\" sizes=\"auto, (max-width: 1080px) 100vw, 1080px\" \/><figcaption id=\"caption-attachment-1100\" class=\"wp-caption-text\">IMF assertions of a $214 million loss in the BoG Gold-for-Reserve scheme are denied by GoldBod.<\/figcaption><\/figure>\n<p class=\"article-image\">\n<div class=\"noPrint\">\n<div class=\"med_rec_lg_min\">\n<div id=\"gpt_unit_\/23135136485\/GhanaWeb\/MR1_0\" data-onpage=\"true\" data-adpath=\"\/23135136485\/GhanaWeb\/MR1\" data-google-query-id=\"CKaF6IKa8ZEDFdHGuwgdSGQW6Q\">\n<div id=\"google_ads_iframe_\/23135136485\/GhanaWeb\/MR1_0__container__\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"article-content-area\">\n<p>&nbsp;<\/p>\n<p>According to the IMF&#8217;s report, trading losses under the Artisanal and Small-scale Mining (ASM) dor\u00e9 gold transactions component and what it called &#8220;GoldBod off-takers&#8217; fees&#8221; were the main causes of the alleged losses, which it identified as a major downside risk to Ghana&#8217;s larger macroeconomic stabilisation agenda.<\/p>\n<h3><\/h3>\n<p>However, GoldBod&#8217;s CEO, Sammy Gyamfi, responded with a thorough post on his Facebook page on December 24, 2025, calling the assertions false and deceptive and maintaining that the organisation has not experienced any losses in 2025.<\/p>\n<p>First and foremost, there have been no losses for the Ghana Gold Board. Instead, under its gold trading activities, the GoldBod has achieved a substantial profit or surplus in 2025,&#8221; he said.<\/p>\n<h3><\/h3>\n<p>The organisation is &#8220;set to declare an income surplus of not less than GH\u00a2600 million for the year 2025,&#8221; according to GoldBod&#8217;s website&#8217;s unaudited financial figures, he continued.<\/p>\n<p>Gyamfi emphasised that &#8220;the selling or trading of gold purchased by GoldBod to off-takers lies in the exclusive domain of the BoG&#8221; and further explained that GoldBod&#8217;s function in 2025 has been restricted to the local acquisition, assaying, and export of gold on behalf of the Bank of Ghana.<\/p>\n<p>&#8220;For the records, there is nothing like &#8216;GoldBod off-taker fees&#8217; under the ASM gold trading programme,&#8221; he added, rejecting allegations of off-taker payments. That claim is untrue.<\/p>\n<p>He claims that the only costs that GoldBod charges are a statutory assay fee of 0.25 per cent and a service charge of 0.5 per cent, which were both carried over from a 2023 Gold Purchase Agreement between the Bank of Ghana and the now-defunct Precious Minerals Marketing Company (PMMC).<\/p>\n<p>The CEO of GoldBod also revealed that ASM gold purchases for the Bank of Ghana brought in over US$10 billion in foreign money in 2025 alone, greatly boosting reserves and stabilising the cedi.<\/p>\n<p>The future of the industry is &#8220;bright for Ghana,&#8221; he continued, adding that GoldBod is slated to fully take over the ASM gold trading programme in January 2026.<\/p>\n<p>See the complete statement below:<\/p>\n<h3>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.facebook.com\/plugins\/post.php?href=https%3A%2F%2Fweb.facebook.com%2Fsamuel.gyamfi.94064%2Fposts%2Fpfbid02SDgZetQHQsBk3VUAGGmfCGAeFx3KyU1yQTBSJ6WFxNu4HYdbMA4XMm1pUBhXyPtkl&amp;show_text=true&amp;width=500\" width=\"500\" height=\"291\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/h3>\n<figure id=\"attachment_1100\" aria-describedby=\"caption-attachment-1100\" style=\"width: 1080px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1100\" src=\"https:\/\/sencoproperties.com\/news\/wp-content\/uploads\/2026\/01\/image-373.webp\" alt=\"IMF assertions of a $214 million loss in the BoG Gold-for-Reserve scheme are denied by GoldBod.\" width=\"1080\" height=\"720\" srcset=\"https:\/\/sencoproperties.com\/news\/wp-content\/uploads\/2026\/01\/image-373.webp 1080w, https:\/\/sencoproperties.com\/news\/wp-content\/uploads\/2026\/01\/image-373-300x200.webp 300w, https:\/\/sencoproperties.com\/news\/wp-content\/uploads\/2026\/01\/image-373-1024x683.webp 1024w, https:\/\/sencoproperties.com\/news\/wp-content\/uploads\/2026\/01\/image-373-768x512.webp 768w\" sizes=\"auto, (max-width: 1080px) 100vw, 1080px\" \/><figcaption id=\"caption-attachment-1100\" class=\"wp-caption-text\">IMF assertions of a $214 million loss in the BoG Gold-for-Reserve scheme are denied by GoldBod.<\/figcaption><\/figure>\n<h3 id=\"article-123\">\nOther stories<\/h3>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Ghanaians_Left_In_Shock_As_Cedi_Appreciates_With_Two_Days_Left_In_2025\"><\/span><a href=\"https:\/\/sencoproperties.com\/news\/2025\/12\/31\/ghanaians-left-in-shock-as-cedi-appreciates-with-two-days-left-in-2025\/\">Ghanaians Left In Shock As Cedi Appreciates With Two Days Left In 2025<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Accommodation_Insurance_Protect_Your_Stay_and_Finances_in_Ghana\"><\/span><a href=\"https:\/\/sencoproperties.com\/news\/2025\/12\/23\/accommodation-insurance-prot\/\">Accommodation Insurance: Protect Your Stay and Finances in Ghana<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Travellers_Hotel_Insurance_Safeguard_Your_Journey_and_Stay\"><\/span><a href=\"https:\/\/sencoproperties.com\/news\/2025\/12\/23\/travellers-hotel-insurance\/\">Travellers Hotel Insurance: Safeguard Your Journey and Stay<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Worlds_Top-Performing_Bank_in_October_2025\"><\/span><a href=\"https:\/\/sencoproperties.com\/news\/2025\/11\/11\/worlds-top-performing-bank\/\">World\u2019s Top-Performing Bank in October 2025<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"The_Ultimate_Guide_to_Loans_Everything_You_Need_to_Know\"><\/span><a href=\"https:\/\/sencoproperties.com\/news\/2025\/07\/16\/the-ultimate-guide-to-loans\/\">The Ultimate Guide to Loans: Everything You Need to Know<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The claims made in the International Monetary Fund&#8217;s (IMF) Fifth Review report under Ghana&#8217;s three-year Extended Credit Facility (ECF) programme [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[127,128],"class_list":["post-1098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance","tag-bog","tag-gold"],"_links":{"self":[{"href":"https:\/\/sencoproperties.com\/news\/wp-json\/wp\/v2\/posts\/1098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sencoproperties.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sencoproperties.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sencoproperties.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sencoproperties.com\/news\/wp-json\/wp\/v2\/comments?post=1098"}],"version-history":[{"count":1,"href":"https:\/\/sencoproperties.com\/news\/wp-json\/wp\/v2\/posts\/1098\/revisions"}],"predecessor-version":[{"id":1101,"href":"https:\/\/sencoproperties.com\/news\/wp-json\/wp\/v2\/posts\/1098\/revisions\/1101"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sencoproperties.com\/news\/wp-json\/wp\/v2\/media\/1100"}],"wp:attachment":[{"href":"https:\/\/sencoproperties.com\/news\/wp-json\/wp\/v2\/media?parent=1098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sencoproperties.com\/news\/wp-json\/wp\/v2\/categories?post=1098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sencoproperties.com\/news\/wp-json\/wp\/v2\/tags?post=1098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<!-- 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