The Deputy Ranking Member of Parliament’s Finance Committee, Dr Gideon Boako, has attributed the recent stability of the cedi to the Gold Purchase Programme introduced by the previous New Patriotic Party (NPP) administration.
According to the Tano North Member of Parliament, responses submitted by the Governor of the Bank of Ghana to Parliament’s Finance Committee indicate that the programme has played a key role in strengthening the local currency.
In a Facebook post on Wednesday, July 15, following the Governor’s appearance before the committee, Dr Boako claimed the Gold Purchase Programme, introduced under the leadership of former Vice President Dr Mahamudu Bawumia and the NPP government, was responsible for supporting the cedi’s recent performance.
“The only and main reason why the Majority in Parliament prevented the Bank of Ghana Governor from speaking on camera to the questions from the Minority today is that his own written responses presented to Parliament had stated that the reason for the stability of the Cedi is because of the Gold Purchase Programme introduced by Dr Mahamudu Bawumia and the NPP government,” he wrote.
Dr Boako further alleged that the Majority blocked the live broadcast of the Governor’s responses to prevent the public from hearing the Bank of Ghana’s position on the issue.
According to him, the written responses submitted by the Governor vindicate the previous administration’s economic policy.
“They don’t want the public to hear this honest admission from the Governor. The God of Bawumia is alive,” he added.
His comments come after the Bank of Ghana Governor appeared before Parliament’s Finance Committee to respond to questions on monetary policy and developments in the country’s economy.
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