**Akwatia MP Bernard Bediako Baidoo has vehemently defended the Ghana Gold Board (GoldBod) against accusations suggesting the institution suffered losses stemming from a recent IMF report, asserting that the report’s attribution doesn’t point to the Board’s responsibility.**
Speaking on Top Story on August 19, Mr. Baidoo stated that the Minority has repeatedly asserted GoldBod’s losses based on the IMF report, yet has failed to pinpoint the specific section of the document that links the losses to the Bank of Ghana. He highlighted that the IMF’s analysis, according to him, focuses solely on the BoG’s role.
Mr. Baidoo clarified that the IMF report, specifically referencing page 10, paragraph 13 of the document, attributes the losses to the Bank of Ghana, not GoldBod. He asserted that the report’s heading, ‘DGPP operations have generated significant losses for the BOG, Bank of Ghana,’ directly contradicts this attribution. He further pointed out that the paragraph details losses recorded in 2024, including a portion related to the government’s Gold-for-Oil programme.
He argued that the IMF’s reference to the Bank of Ghana is inaccurate, claiming it misattributes losses to GoldBod. He stated unequivocally that the IMF report does not indicate that GoldBod is responsible for these losses, and the report itself doesn’t mention this connection. He said, ‘If you look at it, there is no way in the said paragraph that the IMF ever said that the loss was a Gold Board loss, or was at their instance. They never said that. It is nowhere there,’ asserting that the report’s context is misleading.
Mr. Baidoo accused critics of deliberately manipulating the IMF report to undermine GoldBod’s reputation and leadership. He asserted that the IMF’s report, as cited by the Minority, doesn’t establish any debt or losses associated with GoldBod.
He concluded by stating that any questions regarding the reported losses should instead be directed to the Bank of Ghana. ‘So I will leave it as that, that even the report they rely on so much never mentioned that it was Gold Board that incurred the debt. They refer to Bank of Ghana. So there was no such debt with regards to Gold Board,’ he asserted, emphasizing the need to investigate the claims through the responsible institution.
According to Mr. Baidoo, the IMF report, as the Minority has presented, does not establish that GoldBod incurred any debt or losses. The report only references the Bank of Ghana’s role, and the paragraph discusses losses recorded in 2024, including the Gold-for-Oil program. He maintained that any assessment regarding the losses must be directed to the Bank of Ghana.
Source: MyJoyOnline
