Former President John Dramani Mahama has alleged that the Gold-for-Oil program in Ghana is being operated in secrecy, prompting a response from the Governor of the Bank of Ghana (BoG), Dr Ernest Addison.
Speaking at the 3rd Annual Transformational Dialogue on Small-scale Mining at the University of Energy and Natural Resources (UENR) in Sunyani, Mr. Mahama raised concerns about the lack of transparency surrounding the gold-for-oil deal and promised to investigate the matter if he wins the upcoming elections.
He emphasized the need for a thorough investigation into the deal, claiming that the opacity of the program raises questions about accountability and fairness. According to Mr. Mahama, reports have indicated that Ghana is accumulating a new debt burden due to its failure to meet its obligations under the program.
However, Dr. Ernest Addison refuted these claims during the 118th Monetary Policy Committee (MPC) press conference in Accra. He stated that, from the perspective of the Bank of Ghana, the policy is transparent and open. Dr. Addison encouraged individuals interested in learning more about the program to engage with the policy handlers for further clarification.
The disagreement between Mr. Mahama and Dr. Addison highlights the ongoing debate surrounding the transparency and accountability of the Gold-for-Oil program in Ghana. It remains to be seen how this issue will unfold as the country prepares for the upcoming elections.
