Public Outcry for Clarity as Ghana's Gold Reserves Plummet by Nearly 19 Tonnes

Economist Dr. Frank Bannor has raised alarms over a significant decline in Ghana's gold reserves, which plummeted from 37.1 tonnes in September 2025 to just 18.6 tonnes by December 2025—a staggering drop of 18.5 tonnes within three months. This sharp decrease has prompted calls for a public explanation from the Governor of the Bank of Ghana, as it contrasts sharply with the country's rising Gross International Reserves, which increased from $9.11 billion to $13.83 billion during the same period. Dr. Bannor emphasized the strategic importance of gold as a national asset and questioned the methods behind the reserves' decline, speculating whether it involved sales, swaps, or other arrangements. He underscored the need for transparency in reserve management to restore public confidence amid ongoing economic recovery efforts. The economist's demands highlight the critical need for accountability from the central bank to maintain trust in its monetary governance.