'Cedi stabilised, not by IMF, but by Gold Board magic', says NDC’s Fifi Kwetey

The NDC General Secretary believes the new Gold Board initiative is transformative. He claims it delivers “magic” for the economy and changes foreign exchange dynamics. This impact surpasses any IMF deal or cocoa syndication.

Fifi Fiavi Kwetey spoke on PM Express on JoyNews Tuesday night. He called the program a “complete game changer.” He criticized the opposition NPP for trying to take credit for its success.

“Within the first four months, this initiative brought in $2.6 billion,” he revealed. “If you annualize that, you see significant foreign exchange entering our economy.”

Kwetey stated that Gold Board inflows exceed what cocoa syndication offers annually. They also surpass what an IMF program could deliver in that time frame.

“That amount is far more than what the IMF would provide yearly,” he emphasized. He noted that IMF funds often arrive when the cedi is stable.

“This initiative can bring billions of dollars into our country monthly,” he added. To him, this policy marks an economic turning point—a true game changer.

He dismissed NPP claims about their involvement in this policy direction. “They did not create a Gold Board,” he stated firmly.

The NPP lacked creativity to purchase gold and earn forex, which benefits the country. Kwetey clarified that gold reserves are different from what the Gold Board does.

“We’re not discussing gold reserves; they do not drive transformation,” he explained. The real change comes from dollar inflows and liquidity into the economy.

He described this outcome as revolutionary for those accessing liquidity through banks. This access enables free transactions, marking a significant shift.

Kwetey accused the NPP of cowardice in claiming credit for positive developments while avoiding blame for failures.

“They are desperate to take credit for cedi appreciation,” he said, criticizing their avoidance of responsibility for issues like galamsey and dumsor.

This behavior reflects a party lacking moral integrity, according to Kwetey. “They want to benefit from something positive without accountability.”

He believes such politics will keep them in opposition until they embrace truthfulness in governance.

Kwetey asserts that current economic recovery results from bold leadership under John Mahama’s administration.

No matter how much the NPP tries to alter perceptions, results speak clearly, he insists.

The Gold Board represents proof that purposeful politics can lead to real change.