Chief Executive Officer of Dalex Finance, Joe Jackson has backed calls by the Governor of the Bank of Ghana for burden share of the cost of the Gold for Reserves programme.
The BoG Governor, Dr. Johnson Asiama on Monday during a Public Accounts Committee sitting disclosed that the programme is under audit, noting that the Central Bank alone can no longer shoulder the cost of the programme.
The Bank says it will seek reimburse from the Finance Ministry for the costs it incurred under the Gold for Reserves programme since it was introduced.
Speaking in an interview on TV3’s Ghana Tonight, Monday, January 12, 2025, Joe Jackson said the programme must be reviewed to ensure transparency, efficiency and accountability.
He said government must fix the challenges of the programme as it has benefited the economy.Remove ads
“Why should we stop gold purchases when they have kept the dollar stable or relatively lower than in previous years. I just say that this is a good thing. Let’s continue to do. Let’s fix it, let’ make it accountable and transparent. Let’s make it as efficient as possible and let’s bear the cost together,” he told host, Alfred Ocansey.
Joe Jackson stressed that if the Gold for Reserves programme “is good for us and costing us money, why shouldn’t we pay for it. I agree and it makes complete sense.”
He continued: “As a country, we are saying we like the cedi to be stable. If there is a developmental cost of owning our own economy, of taking a bigger chunk of the value of the gold we export by all means, let’s do it. Of increasing our reserves, by all means let’s do it.”