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Institute of Economic Affairs (IEA) Director of Research, Prof. Alexander Bilson Darku, has clarified that the GH¢1.7 billion figure being described as a loss by GoldBod should not necessarily be interpreted as an actual financial loss incurred by the institution.
Prof. Bilson Darku explained that the figure is largely related to an accounting treatment and should be understood within the broader financial context of GoldBod’s operations.
According to the IEA Director of Research, a closer examination of the figures and the circumstances surrounding them presents a different picture from the perception that GoldBod suffered a GH¢1.7 billion loss.
He cautioned against interpreting the reported amount without considering the underlying accounting principles and financial data.
The clarification has renewed discussions about GoldBod’s finances, Ghana’s gold sector, public sector accounting, government financial management and the country’s economic performance.
Source: newsthemegh.com