Member of Parliament for Suame, John Darko, has criticised the Bank of Ghana’s Domestic Gold Purchase Programme, arguing that the policy has failed to translate into meaningful improvements in the lives of ordinary Ghanaians.
Speaking during discussions on the KeyPoints with Alfred Ocansey on the programme’s cost and impact, Dako questioned what he described as attempts to justify rising figures tied to the initiative.
“We are here celebrating debt as a country. That is what we are doing,” he said on May 2.
Mr. Darko took issue with arguments that link the programme to macroeconomic gains such as cedi appreciation and declining interest rates.
“You are telling us the cedi has appreciated, interest rates are down, and so we should celebrate. But at what cost?” he asked.
He pointed to rising figures associated with the programme, insisting that selling gold at a loss should not be defended under any circumstances.
“Nobody sells gold at a loss. This is the only government doing that and expecting applause,” he stated.
The MP also raised concerns about Ghana’s broader fiscal position, referencing what he described as increasing negative equity at the central bank.
He argued that while officials present technical explanations, the real test should be the lived experiences of citizens.
“We need to go to the people and ask: have their lives improved?” he said.
According to him, the answer remains no.
“As I sit here, the cost of living is high. People are struggling. There are no jobs for many young people, including teachers waiting for clearance,” he added.
Mr. Darko said key sectors such as healthcare continue to face challenges, with shortages of essential supplies affecting service delivery.
“When people go to the hospital, they want to see medicines and consumables available, not explanations about policies,” he noted.
He further questioned the relevance of macroeconomic indicators if they do not translate into tangible benefits.
“You put figures on the screen, but how has that improved my life? Fuel prices are up, electricity costs are rising. What is the real impact?” he asked.
While acknowledging the technical arguments surrounding gold trading and accounting practices, Mr. Darko maintained that public policy must ultimately be judged by its effect on citizens.
“For me, as a politician, what matters is whether the lives of the people have improved. Right now, I do not see that improvement,” he stressed.
He concluded by calling for a shift in focus from data-driven justifications to practical outcomes that directly benefit Ghanaians.
By Christabel Success Treve
