By: Kenneth Appiah Bani
Member of Parliament for Ofoase-Ayirebi, Kojo Oppong Nkrumah, has highlighted what he describes as a strong economic performance between 2017 and 2020, while also raising concerns about recent policy directions and proposals.Speaking on economic management under the previous administration, the MP noted that the period saw significant progress, particularly in controlling inflation. According to him, inflation was successfully reduced without the need for sterilization measures, which he suggested reflects prudent fiscal and monetary policies during that time.
However, he acknowledged that the economy faced a major setback in 2020, largely due to unforeseen global challenges. While he did not go into detail, the year coincides with the widespread impact of the COVID-19 pandemic, which disrupted economies worldwide.Touching on more recent economic interventions, Oppong Nkrumah compared two government-backed programmes involving gold. He stated that the “Gold for Reserves” initiative has recorded no losses, presenting it as a stable and beneficial policy. In contrast, he argued that the “Gold for Oil” programme has incurred losses, raising questions about its effectiveness and implementation.
The MP also expressed skepticism about the feasibility of a proposed 24-hour economy policy. He cautioned that while the idea may appear ambitious on paper, its practical success depends heavily on demand. “You can decide to operate 24 hours,” he said, “but we must assess whether there will actually be customers at those hours to sustain business operations.”
His comments contribute to the ongoing national conversation about Ghana’s economic direction, policy efficiency, and the viability of new proposals aimed at boosting productivity and growth.
