Chief Executive Officer (CEO) of the Goldbod Sammy Gyamfi has challenged Minority Leader Alexander Afenyo-Markin to identify any part of a recent IMF report that attributes the Bank of Ghana (BOG)’s $1.7 billion loss to his outfit.
It follows claims by the Minority Leader that the IMF identified that the BOG incurred the loss as a result of its dealings with the Goldbod under the domestic gold purchase programme.
Addressing a news conference on Wednesday August 19, 2026 Mr.Gyamfi said the Minority Leader and his associates had shifted their argument after findings by the Auditor-General contradicted claims that GoldBod recorded losses in 2025.
He said the latest claim that GoldBod was responsible for losses incurred by the Bank of Ghana (BoG) under the domestic gold purchase programme was equally false.
“Nothing could be further from the truth. First, nowhere in the under-referenced IMF report is GoldBod accused as having caused the losses reported to have been incurred by the BOG under the domestic gold purchase program,” he said.
Mr. Gyamfi subsequently challenged the Effutu lawmaker to produce evidence from the IMF report to support the allegation.
“I challenge Afenyo Markin to point to any page, paragraph, sentence, phrase, or punctuation mark in the said reference report of the IMF where the Goldbod was accused by the IMF as the entity responsible for losses incurred by the BOG,” he stated.
According to the GoldBod CEO, the IMF report on Ghana’s Extended Credit Facility states that the Bank of Ghana incurred losses through the sale of gold under its Domestic Gold Purchase Programme, amounting to $400 million in 2024 and $1.7 billion in 2025.
He added that the report attributed the 2025 loss to the scaling-up of the domestic gold purchase programme and not to incompetence or mismanagement.
“ The 2025 loss of 1.7 billion dollars was as the result of the scaling up of the domestic gold purchase program. Not incompetence or mismanagement, according to the IMF,” Mr. Gyamfi said.
