President of IMANI Africa, Franklin Cudjoe, has lauded the leadership behind Ghana’s gold trading reforms, describing key officials involved in the Ghana Gold Board (GoldBod) framework as “true patriots” whose actions are strengthening the country’s economic position.
In comments reflecting on the performance of the gold-backed reserve strategy, Mr Cudjoe singled out Sammy Gyamfi, Chief Executive Officer of GoldBod, the Minister for Finance, Dr Cassiel Ato Forson, and the Governor of the Bank of Ghana, Dr Johnson Asiamah, for what he described as principled and results-driven leadership.
He said their collective efforts had delivered tangible gains for the country.
“But seriously, Sammy Gyamfi, Ato Forson and Dr Asiama are true patriots,” Mr Cudjoe stated, arguing that the GoldBod initiative has significantly boosted Ghana’s reserves.
According to him, these reserves have not only helped offset the substantial losses the country previously incurred under the Gold-for-Oil (G4O) programme but have also supported Ghana’s ability to meet its debt service obligations.
Mr Cudjoe further highlighted what he described as a remarkable improvement in Ghana’s debt position under the current fiscal management framework.
He commended the Finance Minister for what he said was a sharp reduction in the country’s debt-to-GDP ratio within a short period.
“It is instructive to note that the Finance Minister has diligently reduced the debt of Ghana from 61 per cent of GDP to 45 per cent in a year,” he said, describing the development as evidence of disciplined economic stewardship and prudent use of the country’s enhanced reserves.
In a light-hearted but pointed remark, the IMANI Africa President suggested that Ghana’s improving economic fundamentals could soon place the country in a position to support others.
“I think we should be loaning money to the IMF, so they can help other less endowed countries,” he quipped, underscoring his optimism about the direction of Ghana’s economic management.
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Source: www.myjoyonline.com
