Answer: No.
a. It is not right to assess a non-profit monetary policy intervention by a central bank on the basis of profit and loss.
b. The ASM G4R programme was never designed to generate and has at no time, since 2022, generated profit for the BoG.
c. The right way to assess the G4R programme is to look at the attainment of its object, which is the accumulation of foreign reserves for economic stability.
d. Economic policies are assessed on the basis of their cost versus benefits, and not on the simplistic basis of profit or loss from a strict accounting perspective.
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