Afehyia pa, Mantse GoldBossu @SammyGyamfi_ You have forced me out of my Bronya break oo. 😊 Anyway, all for Ghana. 1. The IMF report is emphatic that there have been losses. They even detail which program generated which loss. Have you, perchance, read the report? I have attached it again. 2. The IMF says the losses arose from TRANSACTIONS with small & artisanal miners in DORE GOLD. 3. There is a law which has made you the GoldBossu of Ghana, no? 😊 ONLY you are allowed to buy dore gold from small and artisanal miners in Ghana. Today, you do that on behalf of the Bank of Ghana, only because they have the cash. The only way losses can arise is on the buying and selling sides of the transaction. 4. You would recall that you and I have been having this banter for months. You keep refusing to release information on your trades. Now, the IMF has confirmed what we have been saying for months. 5. If we shouldn't trust the IMF on these losses, when they have an agreement with government to collect information directly from the government, then why should we trust ANYTHING ELSE they say about the economy, including the good stuff? Should we discount the IMF's position that the economy is recovering too? 6. You have the role of audit wrong, Mantse. It is NOT the duty of auditors to prepare the financial statements. It is the duty of management (or more strictly, the Directors). If there have been losses disclosed to the IMF, it can only be because there are management accounts disclosing those losses. 7. The role of auditors is simply to confirm that the financial statements are free of misstatement and that the financial reporting standards have been complied with. Therefore, to argue that an entity can't talk about its P&L until the financial statements have been audited turns corporate financial management on its head. 8. The simple question is: what does Bank of Ghana's own management accounts say? What numbers are they using for internal planning purposes? Do those accounts indicate a loss? 9. If the data on losses came from the IMF examining the Bank of Ghana's financial records, then that data would have come from management accounts, and CANNOT be described as speculative. 10. Let me use this opportunity to assure you that we are not on the sidelines hoping that you fail. We are keen on making sure that you don't. But that requires open, transparent, and granular scrutiny. It requires analytical vigilance. Yet, the culture in this country for many years has been one of government functionaries playing cat and mouse games with activists over facts and data. There have been so many instances of government officials denying stuff that later turned out to be true. It doesn't build confidence. 11. So far, you have not made our work easy, to be honest. This information that was given to the IMF that led them to the conclusion they have come to should have been shared with us, your internal stakeholders, long ago when we demanded it. But we hope the level of transparency will improve over time. 12. Best regards to your family. Thanks for making time on boxing day to respond.