Bank of Ghana launches local gold-buying programme
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
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Reserves
Sarb governor confirms Treasury may draw on reserves to service debt
South African authorities considering use of $25 billion to address ‘expensive’ repayments
China and Saudi Arabia set up currency swap line
Three-year swap line will provide liquidity to both sides of up to $6.98 billion
Paper calls for Sarb to pass reserves to South African government
Report says central bank contingency account appreciated by nearly $8 billion
Indonesia and Singapore renew bilateral liquidity lines
MAS and Bank Indonesia also renew bilateral repo agreement
Reserve Benchmarks 2023 – model banks analysis
Data sheds light on key differences between advanced, emerging and developing economies
Riksbank to sell reserves to hedge currency risk
Central bank aims to sell around $10.1 billion and will provide update from October 13
Reserve Benchmarks 2023 – executive summary
Key findings of the 2023 benchmark, including coverage ratios, strategies to tackle high inflation, new trends in asset diversification, geopolitical risks and external managers
Reserve Benchmarks 2023 report – rebuilding buffers
Insights on portfolios coverage ratios, strategies to tackle high inflation, new trends in asset diversification, geopolitical risks and external managers