Private legal practitioner, Martin Kpebu, has backed calls for the Governor of the Bank of Ghana (BoG), Dr Ernest Addison and his deputies to resign.
Mr Kpebu says the trio have no business staying considering the mismanagement that they have caused at the central bank.
According to him, they are equally responsible for the current economic doldrums the country faces.
Speaking on JoyNews’s Newsfile on Saturday, August 12, the private legal practitioner, known for his activism, insisted the trio must resign.
“The Bank of Ghana Governor and his two deputies should resign because they are co-architects of this economic hardship we are facing.
“The time they were printing ¢35 billion for the government in 2021, didn’t they know it will have repercussions? The time they printed ¢45 billion, didn’t they know it will have consequences.? So, the IMF shouldn’t be the one talking to us,” he said.
The Minority in parliament is not backing down on their call for the resignation of the Governor of the Bank of Ghana, Dr. Ernest Addison and his deputies.
The Minority Leader, Dr Ato Forson earlier this week insisted that Dr ddison must step down following the GH¢60 billion loss incurred in 2022.
Officials of the apex bank had blamed the loss on the cedi depreciation, Domestic Debt Exchange Programme (DDEP), and COCOBOD loans, but the Minority Leader is not having any of that.
Dr Forson also accused the bank of causing the depletion of the country’s external reserves by printing money in excess.
However, the International Monetary Fund (IMF) jumped to the Bank of Ghana’s defence insisting the regulator’s current financial position will not affect monetary policy operations.
This was captured in an update issued by the IMF on Ghana’s programme with the Fund.
The IMF noted that despite the Bank of Ghana’s challenging financial position, this will not prevent the central bank from fulfilling its policy mandate and ensuring that the inflation rate gradually returns towards its 8 per cent target.
The IMF adds that the Central Bank’s income is even expected to be sufficient to cover Monetary Policy operational costs.
It also disclosed that the BoG’s net equity is expected to improve significantly over time and eventually return to positive territory.
But the private legal practitioner, Martin Kpebu is having none of that.