We should feel sorry for this country - Economist on 'poor' management of Bank of Ghana

Professor at the University of Ghana Business School, Godfred Bokpin, has asserted that the country was heading towards doom with the current administration steering the affairs of the Central Bank.

According to him, the Bank of Ghana, managed by the Governor, Dr Ernest Addison, could not warn government that the direction of the economy was heading towards danger despite all the clear indicators in 2019.

He said if the Governor of the Bank of Ghana, Dr Ernest Addison, and his officials were able were to ignore all the warning signs but took certain decisions during the same period tells a lot about what the future holds for the country.

Professor Godfred Bokpin said Ghanaians need to feel sorry for the state of the country.

Speaking on TV3's The Keypoints programme on Saturday, September 7, 2023, he said, “If as at 2019, Bank of Ghana’s own projections and the rest of them could not have warned us that this is where we were heading towards, then I feel we should feel sorry for this country.”

His comments were on the back of the recent demonstration led by the Minority in Parliament calling for the resignation of the BoG Governor and his two deputies.

The protestors were accusing the Dr. Ernest Addison of mismanaging the central bank and plunging it into bankruptcy.

They also accused him of overseeing reckless expenditure, including the construction of the new $250 million Bank of Ghana headquarters.

But the Governor said he will not resign and further described the protesters as hooligans.

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