By Adnan Adams Mohammed
Ghana’s proven gold reserves are estimated at a staggering US$146 billion, yet the country’s economic policies aren’t leveraging this wealth effectively, says Professor Paul Alagidede, a fellow at6 the Centre for Policy Scrutiny (CPS).
Speaking at a public lecture, Alagidede emphasized that gold is a valuable asset that can serve as a store of value, inflation hedge, and strategic reserve asset.
Ghana, the sixth-largest gold producer globally, produces about 440 tonnes annually, but only a small fraction appears on the country’s balance sheet.
“Gold in the ground is not dead wealth,” Alagidede stressed. By leveraging its gold reserves, Ghana could unlock significant fiscal space and transition from managing economic flows to managing its national balance sheet.
The professor called for a shift in monetary philosophy, citing recent policy shifts like the GoldBod initiative as baby steps.
“Ghana is not a poor nation, it’s a wealthy nation in a temporary state of amnesia. It’s time to wake up,” he concluded.
