The Minority in Parliament has criticized the ruling National Democratic Congress (NDC) government for lacking original economic policies, following reports of a $214 million loss under the Bank of Ghana’s Gold-for-Reserves programme.
Speaking at a press briefing on Monday, December 29, Kojo Oppong Nkrumah, Member of Parliament for Ofoase Ayirebi, asserted that the government has demonstrated neither innovation nor effectiveness in economic management. He alleged that the administration has focused on renaming and repackaging existing initiatives while failing to provide substantive details until pressed by the Minority.
“The truth is that this government has not introduced any superior economic ideas. They have engaged in rebranding, renaming old policies, and at times concealing details until the Minority brings them to public attention,” stated Oppong Nkrumah.
He further cautioned that such an approach, without addressing fundamental structural issues, could have severe economic repercussions.
“Rebranding without the necessary competence and structural reforms will prove disastrous. Once the IMF concludes its programme by mid-2026 and inherited ideas are exhausted, what new solutions will they offer? Their tendency has been to adopt frameworks initiated by the NPP—such as Gold-for-Reserves, Gold-for-Oil, and Gold-for-Forex—and now these programmes are incurring significant losses that will ultimately burden taxpayers,” Oppong Nkrumah added.
The Minority’s remarks come amid ongoing scrutiny of the government’s economic strategies and their implementation.
Source: citinewsroom.com