Dr Adu Owusu Sarkodie, a Senior Lecturer at the University of Ghana's Department of Economics, has spoken out about the recent losses incurred by the GoldBod programme, saying that the focus should be on minimising the losses rather than the politics surrounding it.
GOLDBOD Losses Under Scrutiny
The GoldBod programme, a domestic gold purchase initiative, has been in the spotlight after it was revealed that it had incurred significant losses. Dr Adu Owusu Sarkodie, a senior lecturer at the University of Ghana, has been vocal about the need to address the losses rather than getting bogged down in politics.
Politics Overshadowing Economic Reality
In a recent interview on The Point of View, Dr Adu Owusu Sarkodie proposed ways to retain the benefits of the GoldBod programme, but expressed frustration that the focus was on politics rather than finding solutions to the losses. He asked, "Can we continue to use price incentives to capture the market? Is the price incentive the only way to control smuggling?" He also pointed out that the Bank of Ghana and the IMF should share the cost of the losses.
Calling for Transparency
Dr Adu Owusu Sarkodie has also been critical of the lack of transparency surrounding the losses. In a Facebook post, he said, "Why must it take the IMF to tell us this? We are in Ghana. We do the GoldBod operations; don't we know this?" He believes that the government and the Bank of Ghana should be more open about the losses and the steps being taken to address them.
A Call to Action
Dr Adu Owusu Sarkodie's comments highlight the need for the government and the Bank of Ghana to take a more proactive approach to addressing the losses incurred by the GoldBod programme. Rather than getting bogged down in politics, they should focus on finding solutions to the economic challenges facing the country. By working together, they can find ways to retain the benefits of the GoldBod programme and ensure that it continues to contribute to the country's economic growth.
The debate surrounding the GoldBod losses is set to continue, with Dr Adu Owusu Sarkodie's comments sparking a renewed call for transparency and accountability. As the government and the Bank of Ghana work to address the losses, it remains to be seen whether they will take Dr Adu Owusu Sarkodie's words to heart and focus on finding solutions to the economic challenges facing the country.
Source: 3News
