“Addison Criticizes NDC MPs for Opting for Hooliganism Over Parliamentary Procedures”

Dr. Ernest Addison, the Governor of the Bank of Ghana (BoG), has strongly criticized opposition lawmakers for their recent demonstration, which he deems unnecessary. On October 3, opposition MPs led a significant protest in Accra, demanding the resignation of the central bank Governor and his deputies, accusing them of mismanagement. Dr. Addison, as reported by the international business website Central Banking, has firmly stated that he has no intention of resigning. He characterized the demonstration as entirely unwarranted and expressed his determination, along with his deputies, to continue their roles.

In an interview on October 4, Dr. Addison remarked, “The Minority in Parliament have numerous civilized channels to address their grievances, not through street demonstrations akin to hooliganism.” Additionally, he refuted allegations of money printing to fund the government’s expenses, clarifying that the BoG provided monetary financing in 2020 and 2022 to address specific crises, which he asserted is within the bounds of central bank law.

Regarding the losses incurred by the central bank in 2021, Dr. Addison explained that the impairment of the central bank’s debt holdings in 2022 was a necessary step for compliance with the International Monetary Fund (IMF) program, emphasizing that no debts were forgiven. Furthermore, he clarified that the decision to commence construction of the new headquarters was made in 2019 when the bank was profitable and had allocated some of its profits for the new headquarters, emphasizing that it was not a choice made during a time of crisis.

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