General News Tue, 29 Mar 2016

Wampah most “incompetent” governor – Asibey-Yeboah

An Economist Dr. Mark Asibey-Yeboah has been celebrating over the early retirement of the Central Bank Governor Dr. Henry Kofi Wampah.

Wampah, who took over as governor in an acting capacity in April 2013, announced his decision to take an early shower on Tuesday.

"It is announced for the information of the financial sector and the general public that in view of his long outstanding leave days, the Governor of the Bank of Ghana, Dr. H. A. K. Wampah, is taking an early retirement from the Bank with effect from April 1, 2016 ahead of the end of his tenure which falls on August 5, 2016,” the secretary of the BoG announced.

Reacting to the news, Dr Asibey-Yeboah, who is also the New Patriotic Party (NPP) MP for New Juaben South, described Dr. Wampah as the “most incompetent” governor to have headed the Central Bank.

“Is long overdue and I’m happy he has taken an early bow,” the lawmaker told Joy FM’s Dzifa Bampoe Tuesday.

Wampah has struggled to curb inflation and stem the decline of the national currency – the Ghana Cedis.

Wampah told Reuters he had informed President John Mahama of his intention to leave by the end of this month, adding the decision was partly linked to presidential and parliamentary elections planned for November.

"I told him I wanted to leave office early and we have agreed that I will exit at the end of March," Wampah said. "It is just fair to leave early in order to give enough room for my successor, whoever it might be, to settle down before we get to the elections."

He said one of his two deputies, either Millison Narh or Abdul Nashiru Issahaku, was expected to serve as interim central bank governor until Mahama chooses a permanent successor.

Source: Starrfmonline.com