The Ranking Member on Parliament’s Foreign Affairs Committee, Samuel Abdulai Jinapor, has attributed Ghana’s current economic stability to the Domestic Gold Purchase Programme initiated under the Akufo-Addo administration.
Speaking on Channel One TV’s The Point of View with Bernard Avle on Wednesday, March 18, 2026, Mr Jinapor said the measures taken by the previous government, including the gold purchase programme, have placed the John Dramani Mahama administration in a stronger position to handle emerging challenges from ongoing geopolitical tensions in the Middle East.
According to him, the Domestic Gold Purchase Programme has significantly increased Ghana’s gold reserves and provided a stabilising anchor for the domestic currency, the Cedi.
“National Democratic Congress inheritance is better. A lot of what is happening with our economy, national currency, the cedi, is directly as a result of the Domestic Gold Purchase Programme. The Domestic Gold Purchase Programme is the anchor on which the stability and sustainability that we’re enjoying today is taking place,” he stated.
Mr Jinapor explained that before the programme, the Central Bank did not have a policy of maintaining gold reserves.
“At the time the programme was introduced, we didn’t have a policy of Gold Reserves by the central bank. When the programme was introduced, we began to use gold as a tool for stabilising our national currency and intervening in our national economy. This is why it has led us to increase our gold reserves significantly. GoldBod, if well implemented, I believe, will help us a great deal. During geopolitical turmoil like this, the safest commodity is gold,” he said.
