The Chief Executive Officer of Goldbod, Sammy Gyamfi, has dismissed claims of losses associated with the Ghana Gold Board (GoldBod), describing them as “imaginary” narratives being pushed by what he terms “doom wishers” determined to see the initiative and the government fail.

In a strongly worded response to recent criticism, Mr Gyamfi argued that GoldBod remains a surplus-making institution and accused critics of deliberately manufacturing figures to undermine what they described as a transformational policy intervention.

They further accused critics of overlooking the objectives, policy design and associated costs of the Domestic Gold Purchase Programme (DGPP), a policy they said was previously championed by the same actors now raising concerns.

According to him, the DGPP has always come with intrinsic costs to the Bank of Ghana (BoG), but its justification lies in a broader cost-benefit analysis that considers long-term economic gains rather than narrow accounting losses.

The statement also defended the current administration of the Bank of Ghana, describing it as having delivered one of the strongest economic performances in Ghana’s recent history.

It credited the central bank with fulfilling its primary constitutional mandate of price stability and achieving in one year what critics allegedly failed to accomplish over an eight-year period.

Responding to ongoing public debate, Mr Gyamfi indicated that a more detailed engagement on the issues would take place after the Christmas holidays, expressing confidence that criticisms would not stand up to scrutiny.

They urged the public to enjoy the festive season peacefully, while dismissing what he described as exaggerated claims surrounding GoldBod’s performance.

In a related economic update, it was noted that the interbank dollar exchange rate stood at GHS11.1 as of today, a figure cited as evidence of improved currency stability under the current administration.