Ghana Lost $1.2 Billion in Gold Smuggling During Economic Crisis – Finance Minister
Finance Minister Dr. Cassiel Ato Forson has revealed that Ghana lost an estimated 60 tonnes of gold, worth $1.2 billion, to smuggling during the peak of its economic crisis in 2022. This illicit trade in gold has had a significant negative impact on Ghana’s economy, depriving the country of much-needed revenue.In response, the government has introduced measures to combat illegal gold trade and ensure the country fully benefits from its natural resources. One key initiative is the creation of the Ghana Gold Board (GoldBod), a regulatory body tasked with overseeing the gold sector, curbing smuggling, and promoting responsible gold trade. Additionally, the government is collaborating with the UK-Ghana Gold Programme, which seeks to sever the connection between illegal mining and organized crime.As part of the effort to stabilize the sector, the government will fund GoldBod to purchase three tonnes of […]