According to CoinMeta, the Central Bank of Ghana incurred a loss of 22 billion Cedis (about $1.9 billion) in its domestic gold procurement program implemented in 2025, which was aimed at increasing foreign exchange reserves. A report from the International Monetary Fund (IMF) indicates that the losses mainly stemmed from service fees, gold testing costs, and transaction price differences. In 2025, the government established the Ghana Gold Commission, which was designated as the sole authorized buyer for gold purchased from artisanal miners and small-scale gold producers, thereby expanding the scale of gold procurement. This program helped Ghana increase its total international reserves by $3.9 billion by the end of 2025, reaching $11.9 billion. However, it is noted that these related transaction losses further exacerbated the Central Bank of Ghana's negative asset situation, accounting for 6.7% of its total assets.