Outgoing Majority Leader in Parliament, Mahama Ayariga, has rejected claims that the financial costs associated with the Ghana Gold Board (GoldBod) amount to losses that undermine the government’s economic management.

Mr Ayariga argued that the increased costs recorded under the Domestic Gold Purchase Programme (DGPP) must be assessed against the wider economic benefits of the policy, particularly its contribution to the stability of the cedi and the moderation of inflation.

Addressing Parliament on Monday, August 24, 2026, he said the government deliberately expanded the volume of gold purchased through GoldBod as part of measures to strengthen the country’s foreign exchange position.

He maintained that the resulting costs were an inevitable consequence of pursuing the policy at a larger scale and accused the Minority of presenting the figures without adequately considering the broader economic impact.

“What you call losses are costs that this country has to pay in order to maintain the strength of our currency today,” he said.

Mr Ayariga further disclosed that government was working on reforms to move GoldBod-related transactions away from the Bank of Ghana (BoG) and onto the government’s books.

He said the approach was consistent with concerns raised by the International Monetary Fund and the World Bank about the treatment of the transactions, insisting that government remained committed to the policy.

“We stand strongly behind GoldBod and the management of GoldBod,” he said.