Tell us how the economy can recover instead of calls for Governor’s resignation – NPP to NDC

The New Patriotic Party (NPP) has taken a swipe at the opposition National Democratic Congress (NDC) for demanding the resignation of the Governor of the Bank of Ghana, Dr Ernest Addison.

The NPP is surprised that rather than tell Ghanaians how the economy can have a quicker turnaround and remain on the path of growth, the National Democratic Congress (NDC) has chosen to ask the Governor to resign.

The party sees the NDC’s demand as a distraction which it concludes as evidence that the NDC has no message for Ghanaians.

“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 corner and remain on a path to growth?” Director of Communications for the NPP Richard Ahiagbah said in an interview with Citi News.

Mr Ahiagbah stressed that the losses of the Bank of Ghana – GHC 60.8 billion in 2022  – being cited as the reason why the Governor must resign is not peculiar to Ghana but is a universal failing that is affecting some central banks in the world as a result of the negative impact of the COVID-19 pandemic and the Russia-Ukrainian crisis.

“Central banks across the world are posting heavy losses. And the NDC knows about this.

The Bank of England is owed…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,” he added.

He urged the NDC to recant their calls for the Governors and rather tell Ghanaians how the country can overcome its economic challenges.

“The NDC must call another press conference on Wednesday.  This one they have done is a mistake. They should call one another and tell Ghanaians their ideas to ensure this economy continues to build forward; that are where the conversation should go,” he concluded.

Meanwhile, the Bank of Ghana has rejected calls for the Governor to resign. Its Director of Research, Dr Philip Abradu-Otoo said that there is no basis for the calls.