Ghanaian News

BoG governors must be celebrated for saving Ghana’s economy, says Duncan

Former Central regional minister, Kwamena Duncan, has lashed out at the Minority in Parliament for mounting pressure on the Governor of the Bank of Ghana (BoG) Ernest Addison and his two deputies to resign over alleged fiscal recklessness.

The Minority in Parliament has among others called for the resignation of the central bank boss and his deputies over what it described as mismanagement after the bank posted losses totaling GHC60.81 billion for the 2022 financial year as against profit of GHC1.23 billion recorded in 2021.

The losses were as a result of the government’s domestic debt restructuring activities and the depreciation of the cedi, among other effects.

Threat of protest
Speaking at a news conference on Tuesday (8 August), Minority Leader, Dr Cassiel Ato Forson said they will stage a march to occupy the Bank of Ghana, if the trio do not step down.

“We call for the resignation of the governor of the central bank and his deputies within 21 days from today,” he said. “We are resolved to embark on popular action to occupy the central bank and drive out the team of inept, callous and criminal mismanagers of the finances of this country and save the Bank of Ghana.”

Worthy of praise
But speaking on Accra-based Peace FM, Duncan said the governor and his deputies must be celebrated for helping to save Ghana’s economy from crashing during the recent economic turmoil.

“You will recall many people doubted if the economy was in crisis, because they did not hear that interest payment on bonds were not being paid in the early part of 2022, see queues at the pumps for petrol and diesel.

“There were no shortages of essential items on the market, and they did not hear that public sector workers including civil servants, the police and military were not being paid salaries, the reason was that the BoG had provided the needed support,” he said.

“This is what the governor and his deputies chose to do, to get the country going, it is only an unappreciative citizenry and opposition that will complain, left to me alone, Addison and his deputies should be honoured at the appropriate time,” Duncan added.

Change in route
Meanwhile, the police have informed the Minority in Parliament that protesting and picketing around the Bank of Ghana headquarters “may endanger public order, public safety and the running of essential services”.

The opposition MPs have therefore been asked to change their route in the lead up to the demonstration aimed at mounting pressure on the Governor of the Bank of Ghana, Ernest Addison, and his two deputies to resign over alleged fiscal recklessness.

“The Bank of Ghana is a security installation, and accordingly the protest and picketing around the installation may endanger public order, public safety and the running of essential services,” Sayibu Pabi Gariba, the Accra regional police commander, said in a notice to the organisers.

“That the route from Makola through Rawlings Park and Opera Square are always overcrowded and over populated due to human and vehicular traffic,” the notice continued. “Thus, considering the nature of activities during the day, security can easily be compromised. In that regard, using such route may lead to violence.”

“As requested today during our engagement, the command wishes to reiterate that you relocate the route and the destination for the picketing and therefore propose in the interest of public order, public safety among others that you commence the protest from the frontage of Parliament House through Osu Cemetery Traffic Light and terminate at the Independence Square,” Gariba said.

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