The New Patriotic Party (NPP) has described the National Democratic Congress’ (NDC) demand for the resignation of the Governor of the Bank of Ghana, Dr Ernest Addison, and his deputies as a reflection of the party’s lack of ideas to help stabilize the economy.
The Member of Parliament for Dormaa East, Paul Apraku Twum Barimah in a statement cautioned the Minority leader Cassiel Ato Forson and the communication Director of the NDC, Sammy Gyamfi to stop threatening the Governor of the central Bank of Ghana, Dr Ernest Addison with their co called planned demonstrations and picketing.
According to Paul Twum Barimah, The central Bank is an independent state institution established and charged with the responsibility to ensure a stable financial system and serve as facilitator for wealth creation, economic growth and development without any external influence
He noted that the functions and responsibilities of the Central Bank as a Regulator as established in Act 612 and Act 673 enables it to regulate, supervise and direct the banking system and credit system to ensure the smooth operation of a safe and sound banking system and to consider and propose reforms of the laws relating to banking business, to enhance the legal and regulatory framework without any political influence.
“Not even the Finance Minister, Ken Ofori Atta has any influence on the Central Bank Governor. The NDC is fond of peddling lies about successful state institutions that are breaking barriers. They peddled lies about the Finance Minister with allegations that he was Influencing the governor and when that failed they have gone to strategize and this time attacking the governor , but that will also not work . They did same to the Bulk Oil storage and Transport Company, BOST and they were disgraced and they continue to do it with no shame”, he stated
“The NDC is just trying to blackmail the Governor of the Central Bank and his deputies to satisfy their selfish interests and egos using propaganda. I can tell them that their propaganda and lies about the Bank of Ghana and the governor with his deputies will not work. Government is focused, BOG as an independent regulator, is also focused on its mandate to deliver and nobody can use propaganda to attack the central Bank and it’s Governor
These People should give the Governor some peace and allow the central bank the freedom to operate and serve the good people of Ghana.
He said Dr Addison is one of the Efficient Governors of the Bank of Ghana and should be respected as such. In 2022, Dr Addison was adjudged the 10th best Governor in Africa by Global Finance Magazine.
The Central Banker Report which is published annually by the Global Finance since 1994 adjudged Dr Ernest Addison among the 10 best Governors in Africa for his success in the area of inflation control, economic growth goals, currency stability and interest rate management. Due his high knowledge in Economics, he has held many positions in the economic sector as the leader Regional.
Economist of the African Development Bank at the Southern African Resource Centre, from 2003 to 2011, he served as the Director of Research at the Bank of Ghana and was also the Chief Economist of the West African Monetary institute from 2001 to 2002.
NDC is only interested and trying to destabilize the country’s economy But IU can assure them that their plans will not work.
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.
Further, the Director of Communications of the NPP, Richard Ahiagbah, in a statement called on the general public to disregard NDC’s propaganda.
“Is the NDC trying to run the Bank of Ghana now? Is that the point they want to communicate to us, that the Bank of Ghana cannot make a decision until they refer to the NDC? This whole thing the NDC is doing is a clear distraction, clear evidence that the NDC doesn’t have any message. The relevant message any political party should communicate now is How do we strengthen this recovery, how do we make this recovery long term, how do we turn the curve and remain on a path to growth?”
“The NDC must call another press conference on Wednesday, this one they have done is a mistake. They should call another and tell Ghanaians their ideas to ensure this economy continues to build forward that is where the conversation should go.”
He added that the 60 billion Ghana cedi losses incurred by the Bank of Ghana in its 2022 fiscal year are not unique to Ghana, but are being experienced by other central banks as well.
“Central banks across the world are posting heavy losses, and the NDC knows about this. The Bank of England is owed in excess, a debt on their books, the Swiss bank is also owed, this is an incident happening across the board. This is because all economies are trying to build back due to COVID-19 and Russian-Ukraine war,” the Director of Communications of the NPP said.