In the ongoing rants over Ghana’s economic direction, Dr. Mahamudu Bawumia’s recent comments about the NDC’s record on gold reserves fall flat and reveal a deeper misunderstanding of economic management. His claim that the NDC has not add even 1 tonne to Ghana’s gold reserves since they came to power misses the real issue. If we were to use gold reserves as the sole measure of the cedi’s appreciation, the argument would collapse instantly, because Ghana’s gold reserve contributes less than 5% to our GDP.
Gold is important, yes, but it is by no means the backbone of our economy. In fact, several other sectors, such as agriculture, services, and industry, contribute far more significantly to Ghana’s growth and stability. The gold reserve is just a piece of the economic puzzle, not the full picture. Even if Ghana were to lose the foreign currency revenue from the gold reserves, the country would not collapse. That clearly shows gold is not the only thing holding the economy together.
What truly matters is how the foreign exchange revenue from our gold reserves is used. Is the money being spent wisely? Is it being invested in healthcare, education, infrastructure, and job creation? These are the real questions Ghanaians are asking, and the NPP administration struggled to answer them convincingly.
The NDC, under Hon. Ato Forson and His Excellency John Dramani Mahama, is doing what the NPP could not do: implementing smart, strategic policies to stabilize the economy, expand production, and strengthen local industries. Rather than throw empty jabs, Dr. Bawumia should take notes. His ranting about the NDC’s performance contributes nothing to the present economic discourse.
It is time Dr. Bawumia stops the noise, silences the blame game, and learn something from a government that is actually getting things right. Ghana needs solutions, not his empty speeches.
Mantse Ayitey Writes...
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