General News of Saturday, 7 October 2023
Source: www.ghanaweb.live
2023-10-07A mistake of a publicly paid official – Mahama's aide drags BoG governor
Joyce Bawah Mogtari and Governor Ernest Addison
Aide to former President John Dramani Mahama, Joyce Bawah Mogtari has stated that the Governor of the Bank of Ghana (BoG), Dr Ernest Addison did not mis-speak when he described opposition legislators as hooligans.
According to the leading member of the opposition National Democratic Congress, the governor was in his
Read full articletrue elements when he made the statement and that proves him to be a error of an office holder paid with public funds.
"The governor did not mis-speak. That is him in his element!
Such a mistake of a publicly paid official," she wrote in a post on social media platform X.
The governor had critical words for the opposition lawmakers over their recent demonstration describing it as unnecessary.
On Tuesday, October 3, opposition MPs led a massive demonstration in Accra, calling for the resignation of the central bank Governor and his deputies, accusing them of mismanaging the bank.
However, Dr. Addison, in remarks reported by an international business website, Central Banking, stated that he has no intention of resigning.
He described the demonstration as "completely unnecessary" and expressed his determination, along with his deputies, to remain in their roles.
“The Minority in Parliament have many channels to channel their grievances in civilised societies, not through demonstrations in the streets as hooligans,” Dr Addison told Central Banking in an interview on Wednesday, October 4.
Additionally, Dr. Addison dismissed allegations of printing money to fund the government's lifestyle.
He clarified that the BoG provided monetary financing in 2020 and 2022 to address specific crises, which he asserted is legal under central bank law.
Addressing the losses recorded by the central bank in 2021, Dr. Addison explained that the impairment of the central bank's debt holdings that resulted in losses in 2022 was a requirement for the International Monetary Fund (IMF) program. He emphasized that the Bank of Ghana did not forgive any debts.
Furthermore, the Governor clarified that the decision to commence construction of the new headquarters was made in 2019 when the bank was profitable and had allocated some of its profits for the new headquarters.
"It was not a choice made in a time of crisis," he added.
His comment has however attracted heavy backlash from the opposition and critics who say the governor was disrespectful in his reaction.
GA/SARA
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