Deputy Energy
Minister Andrew Egyapa Mercer has debunked claims that the Bank of Ghana (BoG)
is pulling out of the Gold for oil policy.
His comments
follow claims by former Member of Parliament (MP) for Nsuta Kwamang Beposo
Kwame Asafo Adjei that the BoG is withdrawing from the deal following some
debts incurred.
The former New
Patriotic Party (NPP) MP, who argued that the deal is not transparent, added
that he was slammed when he raised issues about the deal months ago.
“I raised it on
several platforms that this policy is not sustainable. It will increase our
inflation, and I was bashed, people were insulting me left, right and centre. I
saw in one of the documents that the BoG was withdrawing from the Gold for oil
policy. I also read that it was going to cost us $100 million in April because
some people were smuggling the gold outside the country and were not passing
through the right channel. And that the BoG was withdrawing, so I wanted to
know why the BoG was withdrawing. That is my beef: why are they withdrawing?
The deal is not transparent enough. They said there’s an agent in Dubai, who is
this agent?” Kwame Asafo Adjei asked on the Eyewitness News on Citi
FM, hosted by Umaru Sanda Amadu.
But responding
to this allegation on Eyewitness News, the Deputy Energy Minister asserted
that the MP’s claims should be treated with contempt, assuring that the BoG has
not withdrawn from the Gold for oil policy.
He described the
allegations as a move by some members of the NPP to “bastardize” the
personality of the Vice President, Dr. Mahamudu Bawumia, who has championed the
policy and is also vying for the presidential slot to lead the party in the
2024 polls.
“It’s surprising
to me that after the interrogation, he’s unable to provide any official
documentation from the BoG to the effect that they are withdrawing from the
Gold for oil policy. I’m inclined to assume that it’s probably because of the
upcoming internal elections, that is why they are seeking to bastardize the
personality of Vice President Dr. Mahamudu Bawumia, who has championed this
policy. I’m completely scandalized. For the information of the general public,
no such statement has been issued by the BoG. No such conversation has ever
taken place.”
“I admit I don’t
work with the BoG, but I can say on authority that the Gold for oil policy has
not made any $100 million loss, for which it will renege on its core mandate of
providing support for import cover and forex support. To hear this is
unbelievable. I will urge with all due respect that this statement that is
coming should be treated with the utmost contempt it deserves. And people
should disregard it as being a palpable falsehood,” the MP for Sekondi noted.
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