The New Patriotic Party (NPP) flagbearer, Dr Mahamudu Bawumia, has taken aim at the Bank of Ghana’s decision to trade part of the nation’s gold reserves, claiming the move led to losses of GH¢1.7 billion that could have been avoided.
Speaking at a town hall meeting in Tokyo, Japan, Dr Bawumia argued that the Gold for Reserves programme should have prioritised the accumulation of gold rather than trading it on the market. “If they had followed the way that we had wanted to do the Gold for Reserves programme in terms of accumulating reserves, those losses would not have been made. But once you decide to start trading in gold, you will make those losses,” he said.
Dr Bawumia urged the government to strengthen the Gold for Reserves programme by focusing on retaining gold as part of the country’s reserves, rather than engaging in risky trading activities.
The NPP flagbearer also addressed criticisms that he avoided discussing economic issues during the run-up to the 2024 general elections. Dr Bawumia insisted that his emphasis on digitalisation was a strategic choice, reflecting the rising importance of technology in the global economy. “Many people don’t understand that the world economy is now digital… If you don’t go digital, you cannot prosper in this global economy. And if you don’t take your time and put your digital framework together, you’ll be left behind,” he stated.
Dr Bawumia maintained that digital infrastructure is essential to economic development, and urged policymakers to embrace innovation to ensure Ghana remains competitive in an increasingly digital world.
Source: Apexnewsgh.com