Flagbearer of the New Patriotic Party (NPP), Dr Mahamudu Bawumia, said the Central Bank incurred losses because it did not learn properly from the previous government’s strategy for the programme.

According to him, if the Central Bank had adopted the previous strategy, hook-line-sinker, Ghana would not have registered losses.

The former vice president made this known when he addressed New Patriotic Party (NPP) members in Japan.

“The Central Bank, through the Gold program, has made losses of $1.7 billion. If they had followed the way that we had wanted to do the Gold Reserve programme in terms of accumulating reserves, those losses would not have been made.

But once you decide to start trading in gold, you’ll make those losses. We are just at the beginning of things. We are asking everybody to be patient, and let’s watch what will happen,” he said.