Finance Minister Dr. Cassiel Ato Forson has announced that the government’s gold sector reforms generated an additional $15 billion in foreign exchange inflows, significantly strengthening Ghana’s external reserves and supporting exchange rate stability.
Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr. Forson said the inflows were driven by the establishment of the Ghana Gold Board, a key policy intervention aimed at curbing gold smuggling, formalising the gold trade, and ensuring that a greater share of the country’s mineral wealth benefits Ghanaians.
According to the Finance Minister, the Gold Board formed part of a broader fiscal policy reform designed to complement the Bank of Ghana’s inflation-targeting framework while enhancing exchange rate stability and strengthening the country’s external resilience.
He explained that the reforms resulted in an additional $15 billion in foreign exchange inflows from gold, boosting reserve accumulation and contributing to the stability of the Ghana cedi.
Dr. Forson further revealed that the policy significantly improved Ghana’s current account position, with the surplus rising from 1.9 percent in 2024 to 8.3 percent in 2025.
He described the increase as a 6.4 percentage-point improvement, representing a fourfold expansion of the country’s current account surplus within a single calendar year.
The Finance Minister stressed that the Ghana Gold Board should not be viewed merely as a policy targeting the mining sector, but as a broader macroeconomic intervention aimed at restoring economic stability.
“This was not simply a gold policy; this was a macroeconomic stabilisation policy designed to strengthen the cedi, build external buffers, and restore confidence in the Ghanaian economy,” he said.
