Goldbod part of our strategy to reduce pressure on the Cedi – Finance Minister

• Posted on April 8, 2025April 8, 2025
• by Nana Kwesi Coomson
• Comment

Finance Minister Dr. Cassiel Ato Forson has described the Goldbod initiative as a game changer for Ghana’s economy, highlighting its role in stabilizing the cedi, boosting foreign exchange inflows, and creating sustainable jobs.

Speaking at a recent meeting with the Canadian High Commissioner to Ghana, H.E. Myriam Montrat, Dr. Forson emphasized the government’s commitment to leveraging the Goldbod to address key economic challenges.

He explained that the initiative is designed not only to enhance the tracking and management of gold exports, but also to support broader economic objectives such as currency stability and long-term growth.

“There is so much to gain from this initiative,” the Minister stated. “Goldbod will give us better control over our gold exports and help shore up our foreign exchange reserves. It is part of our strategy to reduce pressure on the cedi and to prioritize job creation over short-term revenue.”

Dr. Forson acknowledged recent mismanagement within Cocobod but was quick to caution against using those setbacks to discredit the broader Goldbod vision. “While Cocobod has faced some challenges, we must not lose sight of its significant contributions to Ghana’s development. The Goldbod builds on that legacy with a renewed focus on transparency, efficiency, and impact.”

He expressed confidence that the Goldbod will be fully operational soon.

The Minister also noted that the government has taken corrective actions under the IMF programme to address structural slippages inherited from the previous administration.

The High Commissioner of Canada to Ghana, in her remarks, congratulated Dr. Forson on his appointment and reaffirmed Canada’s commitment to its longstanding partnership with Ghana, particularly in the areas of agriculture and technical vocational education and training (TVET).

-3News