GoldBod Should Not Take All Credit for Ghana’s Economic Stability — Bokpin
Economist Professor Godfred Alufar Bokpin has cautioned against attributing Ghana’s recent macroeconomic stability solely to the Ghana Gold Board (GoldBod), arguing that broader fiscal and monetary policies have also contributed significantly to the improvement.
According to Prof. Bokpin, GoldBod deserves recognition for helping to bring more gold-related foreign exchange into the formal financial system and for contributing to efforts to reduce gold smuggling. However, he stressed that these developments should not overshadow the role played by other economic policies in strengthening the country’s macroeconomic position.
He noted that GoldBod has helped narrow the gap between gold produced in Ghana and the foreign exchange retained within the country. The economist said the institution’s activities have therefore had a positive impact, particularly in ensuring that more foreign exchange generated from gold remains within the formal economy.
Despite this contribution, Prof. Bokpin maintained that Ghana’s improved economic conditions are the result of several factors working together. He pointed to fiscal and monetary policy measures as important components of the broader economic recovery, suggesting that the current stability cannot be attributed to one institution alone.
His comments come amid growing public and political debate over GoldBod’s performance and its contribution to Ghana’s economy. The institution has increasingly become a major focus of discussions about gold trading, foreign exchange and economic management, with both supporters and critics examining its impact on the country’s finances.
