The Minority Leader in Parliament, Dr Cassiel Ato Forson has called on President Nana Addo Dankwa Akufo-Addo to address the nation on measures being instituted by the government or “actions that the government plans to implement in order to restore solvency to the Bank of Ghana.”

In a Facebook post on Monday, August 14, 2023, Dr Ato Forson wrote, “Given the unprecedented collapse of our central bank, it is imperative for the President of Ghana to urgently address the nation. During this address, the President should outline the decisive actions that the government plans to implement in order to restore solvency to the Bank of Ghana,”

He said in situations where the financials or liquidity position of a regulated institution was in poor shape, the BoG would issue directives, including the prohibition of dividend payments even if the institution generated profits.

“Granting of new loans will be put on hold; Appointment of new directors will be restricted; Capital expenditure will be temporarily suspended and staff recruitment will be paused, and other similar measures will be taken,” he added.

The opposition National Democratic Congress (NDC) has raised concerns over the fiscal performance and management of the central bank.

The party at a press conference last week accused the Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, of overseeing the mismanagement of the Bank of Ghana. 

The NDC has demanded a resignation of the Governor and his deputies in 21 days

SOURCE: GraphicOnline