Newsfile to discuss over $214m loss in Gold-for-Reserves and galamsey fight under Mahama

​ 120-150This Saturday on Newsfile, we are taking you beyond the headlines, to the heart of two controversies shaping Ghana’s economic and environmental future: the Internatonal Monetary Fund (IMF) alarm over hundreds of millions lost in a gold-for-reserves scheme, and a bitter national debate over whether the fight against illegal mining under President Mahama is turning the tide or letting the menace deepen. Read More On

Summary:
On this weekend’s Newsfile, the programme will delve into two major national issues: the reported US $214 million loss in Ghana’s Gold-for-Reserves (G4R) programme as flagged in the IMF’s fifth review of the Extended Credit Facility, and the ongoing debate over the government’s fight against illegal mining (galamsey) under President Mahama. The IMF highlighted that losses under the G4R scheme — tied to transactional shortfalls and GoldBod off-taker fees — could present risks to the Bank of Ghana’s balance sheet, prompting calls from lawmakers for accountability and review. Meanwhile, environmental groups and critics argue that galamsey remains pervasive despite official efforts, with discussions on whether current strategies are effective or need reinforcement to protect land and water resources.