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Suhum MP vows NPP will probe Gold-for-Reserves in 2029
March 31, 2026
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Suhum MP vows NPP will probe Gold-for-Reserves in 2029

Money
Policy

Key Points

  • NPP MP Frank Asiedu Bekoe warns that a future NPP government will reopen investigations into Ghana’s Gold-for-Reserves programme if they win power in 2029.
  • The call for a probe is driven by serious financial concerns, including an IMF-cited loss of $214 million from the programme.
  • A parliamentary motion to establish an inquiry into the policy's design and financial performance was recently blocked by the Majority (NDC).
  • Mr. Asiedu Bekoe links the alleged losses to broader economic challenges like youth unemployment and criticizes the Majority's lack of accountability.
  • The Gold-for-Reserves programme, introduced by the Bank of Ghana in 2021 to boost foreign exchange reserves, has faced criticism despite government claims of stabilization.

Why This Matters

This issue is significant for Ghana as it highlights substantial alleged financial losses (estimated at $214 million) from a key economic policy, directly impacting national resources. It raises serious questions about government accountability, transparency, and the prudent management of public funds, especially when linked to critical issues like youth unemployment. The political standoff over the investigation could erode public trust and affect future policy implementation.

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