The Centre for Democratic Movement (CDM) has warned against any attempt to shift losses from the Gold-for-Reserves Programme onto the Bank of Ghana or Ghanaian taxpayers. The group said such a move would deepen the governance crisis surrounding the controversial initiative.

Reacting to the Bank of Ghana Governor’s admission that the central bank is seeking reimbursement from the Ministry of Finance, CDM said the development shows that the programme was politically designed without proper safeguards.

“Ghana’s economy cannot be governed through trial-and-error schemes,” the statement said, adding that the central bank should not be exposed to political risk when such programmes unravel.

CDM described the situation as particularly troubling because the Bank of Ghana is expected to be insulated from political experimentation. 

It argued that asking the Ministry of Finance to absorb the losses amounts to transferring the cost of failure to the public.

The group called for clear accountability, including parliamentary testimony from all ministers, deputies, and officials involved in the conception and execution of the G4R Programme.

“Those who politically designed and championed this programme must answer for its consequences,” CDM stated, insisting that responsibility should not be shifted after the fact.