BoG Governor Says He Is Not Resigning Despite The 'Big' Protest -

The Governor of the Bank of Ghana (BoG), Dr Ernest Addison has expressed that he won’t resign from his position following the requests of the Minority NDC assembly.

On Tuesday, October 3, the opposition MPs led a demonstration in Accra to request the renunciation of the Central Bank Governor and his deputies for mismanaging the bank.

However, as indicated by an international business site, the Central Banking, Dr Addison says he will not leave.

The site cited the Marsh Lead representative as saying “the demonstration yesterday [Monday] was completely unnecessary”, adding that neither him nor his agents will find employment elsewhere.

“The Minority in parliament have many channels to channel their grievances” Dr. Addison is additionally cited by the site.

The BoG Governor also dismissed claims of printing money to finance the government’s lifestyle as alleged by the Minority group.

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He explained that the BoG provided monetary financing during 2020 and 2022, to meet specific crises which he says is legal under the central bank law.

Addressing the bank’s losses recorded in 2021, Dr Addison said the impairment of the central bank’s debt holdings that caused the losses in 2022 was a requirement for the International Monetary Fund (IMF) programme. The Bank of Ghana did not forgive any debts.

The Governor further clarified that the BoG chose 2019 as the start date for the new headquarters. This was “when the bank was profitable and appropriated some of its profits for the new headquarters,” he said.