Abena Osei-Asare Questions Fiscal Management and Reserve Disposals Under BoG Gold Program | Discuss Ghana

Public Accounts Committee (PAC) Chairperson and Member of Parliament for Atiwa East, Hon. Abena Osei-Asare, has raised serious concerns regarding the fiscal transparency and expenditure strategy surrounding the central bank's gold purchase and reserve management program.

Critical of the Bank of Ghana's recent financial performance and recapitalization roadmap, Mrs. Osei-Asare questioned the logic of selling previously acquired gold reserves to offset central bank operating losses while concurrently committing massive state funds—estimated at GH¢242.67 billion under the Ghana National Gold Purchase Programme (GANRAP)—to purchase hundreds of tonnes of gold at peak market prices. She argued that disposing of state assets to cover balance sheet deficits while planning large-scale spending to rebuild those same reserves undermines fiscal prudence and creates avoidable burdens for Ghanaian taxpayers. The PAC Chairperson called for full transparency from the central bank, demanding that the Finance Ministry and Bank of Ghana leadership brief Parliament on the total operational costs, middle-man fees, and long-term financial risks associated with the program.

Strengthening parliamentary oversight and ensuring strict adherence to public financial management laws remain central as lawmakers scrutinize national debt management and central bank balance sheets.