National Chairman of the National Democratic Congress (NDC), Johnson Asiedu Nketia, has described criticism of the Ghana Gold Board (GoldBod) by members of the New Patriotic Party (NPP) as a deliberate attempt to undermine the government’s economic policies.
Mr Asiedu Nketia said the attacks, particularly those led by Minority Leader Alexander Afenyo-Markin, were intended to distract GoldBod management and downplay what he described as the economic benefits of the institution.
His comments followed claims by Mr Afenyo-Markin that GoldBod had incurred losses of about GH₵1.7 billion, based on an International Monetary Fund (IMF) report. GoldBod Chief Executive Officer Sammy Gyamfi has rejected the claim.
Mr Asiedu Nketia argued that GoldBod’s gold purchase programme is similar to the previous Gold for Oil initiative and maintained that the reported losses should not be attributed to GoldBod.
He said the transaction costs cited in the IMF report relate to trading activities and do not represent a loss of national wealth. According to him, the government remains concerned about losses attributed to the Bank of Ghana but believes GoldBod should not be blamed.
Mr Asiedu Nketia urged the public to focus on what he described as the broader benefits of the GoldBod policy, including improved price stability, lower inflation, a more stable exchange rate, increased export revenue and a more favourable environment for investment.
He maintained that the government stands by the policy and that the necessary processes have been followed in its implementation.