The Minister of Finance, Dr Cassiel Ato Forson, has credited the Ghana Gold Board (GoldBod) and its leadership with playing a pivotal role in the stabilisation of Ghana’s economy, citing bold reforms, strong institutional coordination and firm political backing as key drivers of recent progress.

In an interview with Radio Gold, Dr Forson explained that GoldBod was established as a strategic response to long-standing structural weaknesses in the economy, particularly the need to build international reserves, stabilise the cedi and rein in inflation.

“I had to tackle inflation, and I had to address structural issues such as how we build reserves to ensure currency stability,” the Finance Minister said, noting that GoldBod forms part of a broader reform agenda aimed at strengthening Ghana’s macroeconomic fundamentals.

He revealed that the concept of GoldBod had been under consideration for some time, but its successful implementation depended on leadership capable of executing an ambitious mandate within a short timeframe.

Dr Forson commended the appointment of Sammy Gyamfi as Chief Executive Officer of GoldBod, describing him as a results-oriented leader with the energy and determination required to translate policy into action.

“It is difficult to get such people around,” he said. “You need someone with energy, drive and a can-do spirit. You have to study people carefully, and we believe the President made the right choice.”

According to the Finance Minister, the speed and scale of progress made by GoldBod since its inception have exceeded expectations, with achievements recorded in a matter of months that would ordinarily take several years.

“To be honest, the work Sammy Gyamfi has done at GoldBod in the last few months is what could take someone five years to accomplish. I salute him for that,” Dr Forson stated.

He also emphasised the importance of institutional collaboration, highlighting effective coordination between GoldBod, the Bank of Ghana and other key state agencies.

Dr Forson noted that alignment between GoldBod and COCOBOD in reserve-building efforts has enhanced the central bank’s capacity to intervene in the market, contributing to improved currency stability and easing inflationary pressures.

“The coordination we have undertaken is working,” he said. “The structural changes we have made in collaboration with the Central Bank are yielding results. The economy is performing better because of a collective effort.”

The Finance Minister further attributed the success of these reforms to strong political leadership, crediting President John Dramani Mahama for providing the necessary support to drive institutional transformation.

“There is no way we could have achieved even a quarter of these results without the President’s support,” Dr Forson said.

His remarks underscore GoldBod’s growing role as a cornerstone of Ghana’s evolving economic framework, positioning the institution as a key vehicle for reserve accumulation, foreign exchange generation and long-term macroeconomic stability through coordinated state action.