Bawumia’s gold-backed policy can end IMF bailouts – Gideon Boako

“If we combine gold-backed reserves with the fiscal discipline Dr Bawumia has always advocated — zero tolerance for unbudgeted expenditure and strict adherence to the Fiscal Responsibility Act — then yes, Ghana can credibly exit the boom-bust-IMF cycle for good,” he said.

Ghana can avoid future International Monetary Fund (IMF) bailouts if the country adopts the gold-backed monetary framework championed by former Vice President Dr Mahamudu Bawumia while maintaining strict fiscal discipline, Tano North MP, Gideon Boako, has said.

He argued that a monetary system capable of strengthening reserves through gold, combined with strict adherence to fiscal rules, could help Ghana break the cycle of balance-of-payments crises and repeated bailouts.