The Centre for Democratic Movement (CDM) has warned against any attempt to shift losses from the Gold-for-Reserves (G4R) Programme onto the Bank of Ghana or Ghanaian taxpayers, saying such a move would deepen the governance crisis surrounding the controversial initiative.
Reacting to the Bank of Ghana Governor’s admission that the central bank is seeking reimbursement from the Ministry of Finance, CDM said the development underscores that the programme was politically designed without proper safeguards.
“Ghana’s economy cannot be governed through trial-and-error schemes,” the statement said, adding that the central bank should not be exposed to political risk when such programmes fail.
CDM described the situation as particularly troubling, noting that the Bank of Ghana is expected to be insulated from political experimentation. The group argued that passing the losses to the Ministry of Finance effectively transfers the cost of failure to the public.
The group called for clear accountability, including parliamentary testimony from all ministers, deputies, and officials involved in the conception and execution of the G4R Programme.
“Those who politically designed and championed this programme must answer for its consequences,” CDM stated, insisting that responsibility should not be shifted after the fact.
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