Blame Akufo-Addo for appointing incompetent, weak Dr. Addison – Prof Gyampo

Outspoken Political Scientist Professor Ransford Gyampo has argued that the appointing authority of the Governor of the Bank of Ghana (BoG) – President Nana Addo Dankwa Akufo-Addo – must be blamed for appointing an incompetent and weak-willed person such as Dr Ernest Addison as the Governor of the Bank of Ghana.

Prof Gyampo noted that even though the Bank of Ghana has essentially collapsed under the leadership of Dr Ernest Addison due to his incompetence and malleability, President Akufo-Addo’s analytical abilities must be called to question for putting him in that critical role as Governor of the country’s Central Bank.

“The BoG has virtually collapsed. It’s ok if Ernest Addison is incompetent and lacks the strong will to keep manipulators at bay. It is the analytical abilities of the one who appointed him that must be questioned” he stated.

Prof Gyampo’s comments come in the wake of a report by the bank that it made a loss of GHc 60.8 billion in the year 2022 as a result of, mainly, the implementation of the Domestic Debt Exchange Programme (DDEP).

But the opposition National Democratic Congress (NDC) accused the Governor of bankrupting the bank and asked that he resign within 21 days.

Some renowned economists have called out Dr Addison for compromising the operational autonomy of the bank by financing Government expenditure by printing money over and beyond legally allowable limits.