Professor Sharif Khalid Mahmud, Economic Advisor to the Vice President, Prof.
Jane Naana Opoku-Agyemang has defended the Ghana Gold Board (GoldBod) as a credible and well-structured intervention behind the cedi's recent stability-dismissing the previous NPP government's Gold-for-Oil policy as poorly conceived.
Speaking on The Point of View on Channel One TV on Wednesday, May 21, Prof Khalid said the Gold-for-Oil initiative lacked the institutional and legal backbone to inspire confidence. "Your Gold-for-Oil programme was parodic-it was emulated from what was happening in certain developing economies," he said, drawing a clear line between that approach and the legally established GoldBod under the Mahama administration.
He noted that GoldBod is backed by legislation, operates under a functioning board, and meets governance standards that have reassured investors and supported the cedi's gains. "If all of these are happening, yet you're asking what has been done-when has a single policy ever solved an economic problem?
