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The opposition National Democratic Congress (NDC)-led demonstration has provoked a row between the Minority MPs and the Governor of the central bank, Dr. Ernest Addison.<\/p>\n
The NDC MPs, on Tuesday, staged a protest in Accra, demanding the resignation of the Bank of Ghana (BoG) Governor and his deputies for allegedly mismanaging the bank.<\/p>\n
The Minority Leader, Dr. Ato Forson, also declined to present his petition to officials of the BoG because he wanted the governor to receive it himself, despite explanation by the bank\u2019s chief of security,\u00a0Wing Commander Kwame Asare Boateng that the governor and deputy governors were in meetings with the International Monetary Fund (IMF).<\/p>\n
Rejection<\/p>\n
Dr. Addison, however, has rejected the opposition\u2019s request to resign, claiming that the Minority MPs should have used a more appropriate approach for advancing their issues as pertained in \u201ccivilised societies\u201d rather than protesting in the streets as \u201chooligans.\u201d<\/p>\n
According to an international business website known as the Central Banking, the BoG governor said Tuesday\u2019s demonstration was \u201ccompletely unnecessary\u201d and neither he nor his deputies intend to step down.<\/p>\n
\u201cThe Minority in Parliament have many channels to channel their grievances in civilised societies, not through demonstrations in the streets as hooligans,\u201d Dr. Addison is quoted as saying.<\/p>\n
He also reportedly denied the opposition\u2019s assertions that the central bank had \u201cunilaterally\u201d employed monetary financing, as well as its demand that the construction of the new headquarters be halted.<\/p>\n
The government restructured its domestic debts earlier this year, which was a major contributor in the central bank\u2019s 2022 loss of GH\u00a260.8 billion ($5.24 billion).<\/p>\n
Opposition<\/p>\n
Dr. Ato Forson and his group have opposed the construction of the new central bank headquarters, which is set to open in September of next year. The Minority Leader called for Addison\u2019s resignation in August, following the release of the central bank\u2019s 2022 financial statements.<\/p>\n
He accused the central bank of printing money to fund the government. At the protest, Ato Forson said the central bank\u2019s leaders \u201chave mismanaged the affairs of the central bank\u201d and \u201cunilaterally printed up to GH\u00a280 billion in two years.\u201d<\/p>\n
Dr. Addison, on the other hand, indicated that the central bank only provided monetary financing between 2020 and 2022 to address specific emergencies, emphasising that this activity is permitted under central bank law.<\/p>\n
According to him, the impairment of the bank\u2019s debt holdings, which resulted in the losses, was a requirement for the IMF programme.<\/p>\n
Office Complex<\/p>\n
Concerning the building, the governor indicated that the Board of Governors decided to begin construction on the new headquarters in 2019 \u201cwhen the bank was profitable and appropriated some of its profits for the new headquarters.\u201d<\/p>\n
\u201cIt was not a decision taken during a crisis,\u201d he pointed out.<\/p>\n
Meanwhile, Mahama Ayariga, the NDC MP for Bawku Central, has termed comments by the BoG Governor as \u201cloose talk\u201d and offensive.<\/p>\n
According to him, he has been taken aback by Dr. Addison\u2019s comments and description, asserting that the Minority members have been civil in their demand for his resignation.<\/p>\n
Source: Daily Guide<\/span><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n
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