Addison has messed up BoG so badly that USA had to send down rep. to keep him in check – Mornah

Justice For Ghana Covener Bernard Mornah has said Bank of Ghana Governor Ernest Addison has mismanaged the bank to the extent that the United States of America had to send down a representative to keep the operations of the banking sector regulator in check.

Reacting to a comment by former GIMPA Rector Prof Stephen Adei, in which the former member of the advisory board of the finance ministry described the call for Dr Addison’s resignation by the minority caucus as “irresponsibile”, Mr Mornah, who is a former Chairman of the People’s National Convention (PNC), told Valentina Ofori-Afriyie in an interview on Class91.3FM’s mid-day news 12 Liveon Wednesday, 16 August 2023, that the Governor must go so as to bring back confidence in Ghana’s monetary regime.

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“When you are able to secure a removal of those who have sunk the economy, and, in this instance, the central bank, what simply will happen is that it will bolster confidence; people will begin to say that, ‘Well, those who messed up are gone’, and the new people that have come in will come with new vigour … and ensure stability within the monetary system”, Mr Mornah argued.

“So, if the governor is seen as a very bad leader and you say that, ‘No, if we allow a bad leader to go, it will have ramifications and our currency will depreciate, how is the currency going to depreciate becuase our currency has already depreciated as one of the worst currencies in the world”, he observed.

Mr Mornah added: “Now that our currency has depreciated as one of the worst, the USA has sent somebody to come and be at the Bank of Ghana to monitor the operations and activities of the Bank of Ghana”.

“Is that alone not sufficient to tell you that our central banker is incapable of handling the affairs of the nation?” Mr Mornah wondered.

The minority caucus, which first called for Dr Addison’s resignation, gave him a 21-day ultimatum.

Source:www.classfmonline.com