GoldBod Has Blocked Major Gold Smuggling to UAE Market – Financial Expert Praises Government’s Gold Policy

Financial expert Obiri Yeboah has commended the government’s GoldBod initiative, describing it as a major contributor to the country’s recent economic gains and efforts to curb illegal gold exports.

Speaking on the government’s economic management via a zoom meeting on Kessben TV’s Digest show, Yeboah said GoldBod has played a significant role in strengthening the economy through tighter regulation of the gold sector.

According to him, the government’s disciplined approach to public expenditure has also contributed to its success, citing decisions to cut unnecessary spending, including refusing to send supporters to the World Cup.
The financial expert further claimed that GoldBod’s intervention has blocked major gold smuggling operations into the international market, particularly the United Arab Emirates (UAE) market.
He urged authorities to maintain GoldBod’s internal control over the gold trade, arguing that the initiative is essential to sustaining economic growth and stability.

On Ghana’s engagement with the International Monetary Fund (IMF), Yeboah advocated for the country to remain under the IMF monitoring for a longer period, saying it would help enforce fiscal discipline.
He also appealed to Ghanaian businesses to reduce excessive profit margins so that consumers can begin to experience the benefits of the country’s ongoing economic recovery.
Yeboah maintained that continued fiscal discipline, stronger regulation of the gold industry, and responsible pricing by businesses are key to sustaining Ghana’s economic progress. He concluded by rating the finance minister ‘s output to the economy at seven over ten, an excellent performance

By Maurice Otoo