The reported 22 billion cedi ($1.9 billion) loss hit a domestic gold-buying scheme meant to strengthen foreign-exchange reserves, underscoring the risks of reserve-management hedges when market moves turn against policymakers.
Ghana's central bank posted a 22 billion cedi ($1.9 billion) loss in 2025 on its domestic gold purchase program, a scheme designed to bolster the country's foreign-exchange reserves. The outcome highlights how a hedge intended to support reserve accumulation can instead deepen losses when market conditions move the wrong way, turning a protective strategy into a balance-sheet drag.