Senyo K. Hosi, Entrepreneur, Finance & Economic Policy Analyst, says Ghana’s improved currency stability in 2025 is closely linked to the success of the GOLDBOD-operated Domestic Gold Purchase Programme, which has strengthened confidence in the economy.

He explains that by channeling gold exports into official reserves and forex markets, GOLDBOD provided a steady and predictable source of foreign exchange.

“Markets respond to certainty, and GOLDBOD introduced certainty into our gold trade,” Hosi says.

According to Hosi, this confidence translated into tangible macroeconomic outcomes, including the appreciation of the cedi, falling inflation, and reduced volatility in the foreign exchange market.

He describes the results as “rare but welcome within an IMF-supported adjustment programme.”

Hosi further notes that the alignment of fiscal and monetary policy around the DGPP was crucial.

“This was not accidental; it was coordinated policy execution,” he says, adding that the Bank of Ghana’s reserve build-up reinforced the credibility of the programme.

He concludes that GOLDBOD’s role should be seen as strategic rather than transactional.

“It has become a stabilising institution in Ghana’s economic architecture,” Hosi argues, calling for sustained support to deepen its impact.