Audio By Carbonatix
The Bank of Ghana will soon start purchasing gold from the local market to help shore up its reserves.
This will happen after it launches the domestic gold purchase programme a few hours from now.
The initiative will help the Central Bank increase its reserves that are held in gold.
The Governor of the Bank of Ghana, Dr. Ernest Addison, last year announced that a decision has been taken to increase the country’s reserves.
Joy Business is learning that the Central Bank reserves had been held in different investment instruments, and therefore this move is seen as historic.
More soon………
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
NPP had more permanent fuel relief measures than current GH¢2 diesel cut – Amin Adam
13 minutes -
Photos from the 3rd Republic Bank-JoyNews Habitat Fair Clinic
16 minutes -
Ethiopia’s army promises restraint amid fears of new civil war
25 minutes -
Amin Adam calls for review of fuel taxes as diesel prices remain above GH¢18
57 minutes -
World Vision Ghana, Ahafo districts sign MoU for universal WASH coverage
1 hour -
When the gold engine stutters: What Ghana’s Cedi and reserves are telling us about the new economic architecture
2 hours -
Two reportedly die after being trapped in mining pit at Juaboso
2 hours -
Petrosol cleans up Wa Municipal Hospital, to donate medical equipment
2 hours -
‘If NPP was ‘insensitive’ over fuel prices, NDC must accept same description now’ — Amin Adam
2 hours -
KiDi brings the hits to London in sold-out UK headline concert
2 hours -
The last goodbye of Ghanaian shot dead in the US
3 hours -
MCC opens door to Ghana again as MiDA revives development partnership
3 hours -
CSIR moves to turn scientific research into jobs, national growth
3 hours -
More patrons troop in as 3rd Republic Bank-JoyNews Habitat Fair clinic enters final day stretch
3 hours -
German, Russian foreign ministers hold rare talks amid rising tensions
3 hours