Bank of Ghana launches local gold-buying programme

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The Bank of Ghana has launched a gold acquisition programme with the aim of doubling its gold holdings over the next five years.

In a speech at the launch event on June 17, governor Ernest Addison said the programme would allow the central bank to buy domestically produced gold from “selected” aggregators and mining firms.

“It therefore marks a significant change in the modus operandi of Bank of Ghana’s foreign exchange reserves management operations,” he said.

Ghana’s central bank’s foreign

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