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March 19, 2026
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Bank of Ghana sold our gold reserves to hide 2025 losses – Amin Adam
Money
Policy
Key Points
- Former Finance Minister Dr. Mohammed Amin Adam has voiced concerns over the government's sale of half of Ghana's total gold reserves last year.
- He argues that this sale has depleted national reserves and questioned the rationale behind liquidating assets built by the previous administration.
- Dr. Adam suggested the approximately US$1.5 billion generated from the sale was potentially used to hide significant 2025 financial losses.
- He criticized the move for raising serious concerns about policy consistency and balance sheet management within the government.
- The former minister challenged the Central Bank to prove the gold was not sold to cover losses occasioned by poor management, rather than for strategic asset reallocation.
Why This Matters
This situation is significant for Ghana as it raises serious questions about the transparency and prudence of national financial management and the stability of economic policy. The alleged depletion of gold reserves to cover potential losses could weaken the nation's financial standing and erode public trust in its institutions. It also highlights concerns about accountability and the sustainability of current financial practices.
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