Dr. Razak Kojo Opoku, a Financial Economist and member of the New Patriotic Party (NPP), has criticised the former leadership of the Bank of Ghana, accusing them of taking decisions that contributed to the party’s political difficulties and economic challenges while in government.
In a statement posted on Facebook, Dr. Opoku questioned the economic outcomes associated with huge financial losses recorded by the central bank, arguing that Ghanaians would judge losses based on their impact on inflation and the exchange rate.
“It may be true that ‘all loss be loss’ but a loss of GHS 60.8 billion to yield 54% inflation and exchange rate of $1 to GH¢14.5, and a loss of GHS 15.63 billion to yield 5.4% inflation and exchange rate of $1 to GH¢10.88, which of these losses will be appreciated by the majority of Ghanaians?” he queried.
According to him, although criticism from political opponents and sections of the public is expected, the NPP remains confident of returning to power in future elections.
Dr. Opoku, however, stressed that future appointments to the positions of Governor and Deputy Governors of the Bank of Ghana must be carefully considered to ensure competent economic management.
“Definitely, the NPP shall come back to power again but the appointments of Governor and Deputy Governors to the Bank of Ghana should be reserved for persons who sincerely love to see the NPP remain in power, not those who will send NPP back to opposition with their poor management decisions,” he stated.
He also took aim at former Governor Dr. Ernest Addison and his deputies, claiming they have remained silent over their stewardship since the NPP left office.
“We have never heard Governor Addison and his deputies defending their own records at the Bank of Ghana since NPP went into opposition,” he added.
The comments come amid continuing debate over Ghana’s recent economic challenges, including high inflation, exchange rate instability, and the financial performance of the central bank during the previous administration.
Dr. Opoku’s remarks are expected to generate further political discussion over the role of the central bank in Ghana’s economic management and the impact of economic conditions on electoral outcomes.
By 1960news.com
