Bank of Ghana balances on a knife edge

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• AFUA BISUE 1 week ago

  THE PROBLEMS OF BANK OF GHANA STARTED IN 2020 WHEN POLITICAL APPOINTEES LED A CRUSADE OF EXCESSIVE SPENDING WITH THE BANK CONTINUOUSLY MAKING LOSSES. BEFORE THAT DATE, BANK OF GHANA USED TO MAKE DECENT PROFITS AND CONTRIBUTED ...
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  THE PROBLEMS OF BANK OF GHANA STARTED IN 2020 WHEN POLITICAL APPOINTEES LED A CRUSADE OF EXCESSIVE SPENDING WITH THE BANK CONTINUOUSLY MAKING LOSSES. BEFORE THAT DATE, BANK OF GHANA USED TO MAKE DECENT PROFITS AND CONTRIBUTED REVENUES TO THE CENTRAL GOVERNMENT. IN 2015, FOR EXAMPLE, THE CENTRAL BANK PAID ONE BILLION GHANA CEDIS OR ALMOST 300 MILLION DOLLARS AS REVENUES TO THE CENTRAL GOVERNMENT UNDER THE IMF PROGRAMME.
  
  IT WAS THOUGHT THAT THE VERY HIGH LOSSES FROM 2022 TO 2024 OF THE CENTRAL BANK UNDER THE FORMER AKUFO-ADDO GOVERNMENT WOULD BE STEMMED AND REDUCED WITH THE ARRIVAL OF THE NEW GOVERNMENT. HOWEVER, MAHAMA CHOSE TO APPOINT HIS FRIENDS TO THE GOVERNORSHIP OF THE BANK AND THE BOARD OF THE DIRECTORS OF THE BANK AND THE THE ROT HAS CONTINUED. MAHAMA SHOULD HAVE APPOINTED A COMPETENT OUTSIDER LIKE KUFOOUR DID WITH DR. ACQUAH. INSTEAD HE CHOSE JOHNSON ASIAMAH, AN ECONOMIST WHO HAD SEVERAL SKELETONS IN HIS BAG AS THE FORMER DEPUTY GOVERNOR. ASIAMAH THEN PACKED THE BOARD WITH HIS CRONIES AND TRIBESMEN WHO THEN BECAME YES MEN AND WOMEN.

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• SIMON, YOUR THESIS IS SOMETHING ALL TOO WELL KNOWN. IT LACKS PRACTICABILITY. YOU SIMPLY HATE PROGRESS 1 week ago

  My friend Simon, all that you are writing is simple English from the Textbook. Despite all you have written, inflation is still in the region of 3%, the USD has been stable for more than 18 months. Shut up with your theories. ...
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  My friend Simon, all that you are writing is simple English from the Textbook. Despite all you have written, inflation is still in the region of 3%, the USD has been stable for more than 18 months. Shut up with your theories.
  
  Somewhere around the beginning of Mahama's team, the Dollar starting falling and reached around Ghc9 to One USD. You are the same people who started putting forward your useless theories again leading to John Mahama ignorantly making a statement to the effect that the best range for the cedi should be Ghc11.00 to Ghc12.00. Then Baam out of the blue the fall of the USD stopped.
  
  Now you have resurfaced again with your theories. Please spare us. Where were you when the Dollar rose to a record Ghc17.00 for One Dollar?
  
  You simply hate progress

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• Ohemeng Daniel 1 week ago

  What room did the bank use to manoeuvre?
  The printing of over Ghc60 billion is what is being praised?

  What room did the bank use to manoeuvre?
  The printing of over Ghc60 billion is what is being praised?

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