Former Executive Director of the Environmental Protection Agency (EPA), Dr. Henry Kwabena Kokofu, has praised the Gold for Oil initiative, a groundbreaking economic policy introduced by former Vice President Dr. Mahamudu Bawumia.
According to Kokofu, this program has played a pivotal role in Ghana’s economic stability, particularly in managing foreign exchange challenges and stabilizing fuel prices, and its impact is still being felt today.
In a recent interview with Moro Awudu on Good Morning Ghana on Metro TV, Kokofu acknowledged that while the policy was introduced during Dr. Bawumia’s tenure as vice president, its benefits are now being reaped under the leadership of President John Dramani Mahama. Kokofu explained that the Gold for Oil policy helped shield the country from the severe economic shocks it had been facing, particularly in terms of fluctuating global oil prices and a weakening currency.
“The Gold for Oil program has helped Ghana manage its foreign exchange challenges and stabilize fuel prices,” Kokofu stated. “This is one of the key ideas that is holding the economy today. Despite changes in leadership, it’s a policy that continues to benefit the nation.”
Kokofu went on to emphasize that Dr. Bawumia’s economic foresight has laid the foundation for the current administration’s success. He attributed the positive developments in certain sectors of the economy to policies that were originally set in motion by Bawumia during his time as vice president.
Source: metrotvonline.com
