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Ghana moves to hedge gold export prices to protect growth of reserves
By Moses Mozart Dzawu
Bloomberg News
via Mining Weekly, Bedfordview, South Africa
Tuesday, July 15, 2025
Ghana is working on a programme to hedge the price of gold exports as it seeks to shield earnings that have bolstered the central bank’s foreign reserves from future volatility, Bank of Ghana Governor Johnson Asiama said.
Increased production and higher prices have helped Africa’s top gold miner to boost gross international reserves to $11.1-billion, Asiama said today in the capital, Accra. The buffer is enough to cover 4.8 months of imports, he said.
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"While beneficial for now, a future correction in prices could quickly narrow our trade surplus," Asiama said.
Ghana's gold exports increased by 76% from a year earlier to $5.2 billion in the first four months through April. That has underpinned a widening in the trade surplus to $4.1 billion from $759 million over this period. ...
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