Throughout a latest tackle to the Younger Govt Discussion board in London, Ghana’s former Vice President, Dr Mahamudu Bawumia, claimed that the present NDC administration has but so as to add even a single tonne of gold to the nation’s official reserves.
CLAIM: “Sixty-five years after independence, we had solely 8.7 tonnes of gold reserves. However in simply two years, we elevated that to 30 tonnes—a major buffer for our forex. For the reason that NDC took over, they haven’t added even one tonne.”
An examination of information from the Financial institution of Ghana corroborates this declare.
As of end-Might 2023, Ghana’s gold reserves stood at 8.78 tonnes.
By December 2024 reserves had risen sharply to 30.53 tonnes, a rise of 21.75 tonnes.
For the reason that NDC assumed workplace in January 2025, progress in gold reserves has been modest.
By end-April 2025, reserves had inched as much as 31.37 tonnes, marking a internet addition of 0.84 tonnes—beneath the one-tonne threshold cited by Dr. Bawumia.
VERDICT: Dr. Bawumia’s declare that the NDC authorities has not added a full tonne of gold to Ghana’s reserves since taking workplace is supported by knowledge from the central financial institution.
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