BoG Governor rejects resignation calls amidst opposition criticism
Dr. Ernest Addison, the Governor of the Bank of Ghana, has vehemently rejected calls for his resignation by the Minority NDC caucus, labeling the recent demonstration in Accra as “completely unnecessary.” In a candid statement to central banking, Dr. Addison stood firm in his commitment to remain in office, along with his deputy governors, dismissing allegations of financial impropriety.
The Minority NDC caucus had demanded the Governor’s resignation, citing concerns over alleged money printing and the bank’s recorded losses in 2021. Dr. Addison addressed these issues head-on, asserting that the Bank of Ghana had acted within the bounds of the law when providing monetary financing during 2020 and 2022 to address specific crises. He also clarified that the losses incurred in 2021 were a result of the impairment of the central bank’s debt holdings, a necessary step for compliance with an International Monetary Fund (IMF) program.
Regarding the controversial construction of the new bank headquarters, Dr. Addison emphasized that this decision was made in 2019, during a profitable period for the bank, and not during times of financial turmoil.
While acknowledging the Minority’s concerns about their inability to present their petition, the Governor underscored the availability of alternative channels for addressing grievances, urging cooperation and dialogue.
Dr. Ernest Addison’s resolute stance underscores his commitment to maintaining stability and accountability within the Bank of Ghana, amidst growing political pressure and scrutiny.
Why can’t the NDC adopt dialogue to get to the bottom of this matter . Political agitation and demonstrations will get the country nowhere. Rather we lose out as an investment destination and worsen the economic crisis. But of course by their calculations, that’s the ultimate objective so that more blame can be heaped on government.
Why can’t the NDC adopt dialogue to get to the bottom of this matter . Political agitation and demonstrations will get the country nowhere. Rather Ghana will lose out as an investment destination and worsen the economic crisis. But of course by their calculations, that’s the ultimate objective so that more blame can be heaped on government.