CDM Critiques Gold-for-Reserves Programme Amidst Governance Concerns

The Centre for Democratic Movement (CDM) has sharply criticized the Ghanaian government's Gold-for-Reserves (G4R) Programme, labeling it a significant failure of democratic governance and a reflection of the structural weaknesses within the Bank of Ghana. In a series of statements, the CDM has raised alarms over the lack of transparency and accountability in the management of the G4R initiative, particularly following the Bank of Ghana's acknowledgment of financial losses associated with the program.

The CDM has expressed concerns regarding the government's opaqueness and inadequate parliamentary oversight, arguing that the G4R Programme lacks a clear operational framework. They warn against attempts to shift the financial burdens from the Bank of Ghana to taxpayers, emphasizing that such actions would exacerbate the ongoing governance crisis. The group insists that political risks should not undermine the integrity of the central bank and has called for accountability, demanding that officials involved in the program's conception and execution testify before Parliament.

In a related political development, Ghana's High Commissioner to the U.S., Victor Smith, confirmed that former Finance Minister Ken Ofori-Atta was medically cleared for detention by U.S. Immigration and Customs Enforcement (ICE). Following his arrest, Ofori-Atta was assessed by medical professionals to ensure his fitness for detention, and he was allowed access to his prescribed medications. The Ghanaian embassy sought consular access, but Ofori-Atta declined to meet officials without his lawyers present. He remains in ICE custody while addressing questions regarding his immigration status.