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Policy analyst Dr. Emmanuel Steve Asare Manteaw has argued that losses incurred under Ghana’s gold-backed policy interventions should be assessed within the broader context of economic stabilization rather than isolated financial figures.
Dr. Manteaw said public debate around an alleged GHC214 million loss linked to GoldBod activities ignores the macroeconomic impact of the program.
“I would rather make losses to stabilize our economy and lay the foundation for economic growth than to make no losses and yet have no impact on the macro economy,” he said.
He explained that avoiding losses at all costs could come with far more damaging consequences.
“You could make no losses and still run an economy with very high inflation, high exchange rates, high fuel prices, and everything else,” he noted on Metro TV’s Good Morning Ghana monitored by MyNewsGh.
Dr. Manteaw stressed that economic policy must be judged by outcomes, not optics.
“We’ve gotten to a point where the benefits of the GoldBod activities outweigh the losses,” he said, suggesting that the focus should shift from headline figures to long-term gains.
He cautioned against allowing public discourse to be driven by narrow interpretations of financial performance, particularly when broader stability is at stake.
“Sometimes, the question is not whether there is a loss, but what the loss is preventing,” he added.
According to him, policies that help stabilize inflation and exchange rates ultimately deliver more value to citizens than short-term balance sheet optics.
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