A Ghanaian economist and also a Senior Lecturer of Finance at the University of Ghana School of Business (UGBS), Prof. Godfred Bokpin has alleged that the management of the Bank of Ghana has collaborated with the government to crash the economy of Ghana.
Speaking in an interview on JoyNews which was monitored by 1family radio, the professor stated that despite knowing that the economy will severely suffer if the financial institutions engage in the DDEP, the regulators of BOG still forced other financial institutions to join the program.
He stated that he is worried about the banking firms that have joined the debt exchange program because of the consequences it will have on them. Prof. Bokpin uttered that in the near future, people will definitely talk about how the Bank of Ghana conspired with politicians to destroy the economy of the country.
According to the professor the country is in debt because BOG failed to scrutinized the expenditure of the government.
Prof. Bokpin furthered that he is amazed that the political leaders of the country have asked Ghanaians to modify their expenditure because of the debt while they continue to live a life of extravagancy.