The Bank of Ghana (BOG) announced a momentous Domestic Gold Purchasing Programme (DGPP) on June 17, 2021 as a means to augment the Bank’s foreign exchange reserves with gold.
Currently, BOG runs three successful gold-related initiatives under the DGPP namely:
- Gold-for-Reserves
- Gold-for-Oil
- FX-Purchase-from-Gold-Exporters
These bold DGPP initiatives undertaken by the BOG have underpinned the stability and resiliency of the Ghanaian economy in the wake of the global economic turmoil occasioned by the aftermath of the COVID19 pandemic and the Russia-Ukraine war to name but a few.
The BOG expects to double its gold holdings in the next five years under the DGPP.
Come hang with us at the Gold Lounge as we take you through the working mechanisms of BOG’s domestic gold purchasing initiatives.
