The New Patriotic Party (NPP) has criticized the National Democratic Congress (NDC) for demanding the resignation of the Governor of the Bank of Ghana, Dr. Ernest Addison, and his deputies.
The NPP suggests that the NDC’s call for resignations reflects a lack of innovative solutions to stabilize the economy.
The NDC on Tuesday, August 8, threatened to march to the premises of the Bank of Ghana to drag Dr. Addison and his deputies from office if they fail to resign within 21 days, due to what it described as the reckless management of the bank by the officials.
In response, however, the NPP’s Director of Communications, Richard Ahiagbah, expressed skepticism and urged the public to dismiss the NDC’s claims as mere propaganda.
Ahiagbah questioned whether the NDC aimed to take control of the Bank of Ghana’s operations and highlighted the distraction caused by the NDC’s actions. He emphasized that the crucial focus should be on strengthening the ongoing economic recovery, ensuring its sustainability, and fostering continued growth.
Ahiagbah further emphasized that the NDC should reconsider their approach, asserting that the current press conference held by the NDC was a misstep. He suggested that the NDC should hold another press conference to outline their ideas for advancing the economy’s progress and present their strategies for maintaining its positive trajectory.
Addressing concerns about the Bank of Ghana’s financial losses of 60 billion Ghana cedis during the 2022 fiscal year, Ahiagbah noted that this situation was not unique to Ghana. He pointed out that central banks worldwide were grappling with substantial losses due to the global economic impact of the COVID-19 pandemic and the Russian-Ukraine conflict. Ahiagbah cited examples such as the Bank of England and Swiss Bank, both of which are burdened by debts on their books.
In light of the broader economic challenges faced by central banks across the globe, Ahiagbah’s statements underline the need for a comprehensive understanding and consideration of the global context when evaluating the Bank of Ghana’s performance.
Ahiagbah summarized the NPP’s position by asserting that the NDC’s focus should be on constructive solutions to further economic recovery and growth, rather than pursuing what the NPP perceives as unproductive demands for resignations.