The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has reprimanded the NDC opposition MPs for their recent protest, calling it superfluous.
On Tuesday, October 3, the NDC minority caucus organized a major protest in Accra to demand the resignation of the governor of the apex bank and his two deputies on grounds that they had mismanaged the institution.
However, Dr. Addison said he had no intentions of quitting during an interview with the international business website, Central Bank, which was monitored by 1Family Radio.
Dr. Addison characterized the protest as wholly unnecessary and declared his intention—along with that of his two deputies—to hold onto their positions.
“The Minority in Parliament has many channels to channel their grievances in civilized societies, not through demonstrations in the streets as hooligans,’’ Dr. Addison said.
The governor denied accusations that the bank was printing currency to support the government’s luxury.
According to him, the bank’s provision of monetary financing in 2020 and 2022 to meet specific crises was lawful under central bank rules.
Dr. Addison responded to the bank’s 2021 losses by stating that the bank’s 2022 losses were caused by the diminution of its debt holdings, which was a prerequisite for the International Monetary Fund (IMF) program. He made it clear that the Bank of Ghana does not pardon loans.
The governor added that the decision to start building the new headquarters came about in 2019, when the bank was prosperous and had set aside some of its earnings for the project.
“It was not a choice made in a time of crisis,’’ Dr. Ernest Addison clarified.
Source: 1Familyradio