Franklin Cudjoe, the President and Founder of IMANI Africa, has taken aim at the government for the significant financial losses sustained by the Bank of Ghana, paralleling the situation with the tenure of former President John Dramani Mahama.
Franklin Cudjoe asserted that the era of Mahama’s presidency did not witness such extensive losses, hinting at the gravity of the current circumstances.
Cudjoe’s remarks arise in the backdrop of the Bank of Ghana‘s GH¢60 billion loss in 2022, predominantly attributed to the impact of the Domestic Debt Exchange Programme (DDEP) and other financial maneuvers.
The central bank restructured its holdings of government debt, resulting in impairments and revaluation losses, culminating in an unfavorable equity standing.
The ramifications of these losses have prompted the Minority in parliament to demand the resignation of Dr. Ernest Addison, the Governor of the Bank of Ghana.
Additionally, concerns about the fiscal well-being of the central bank and its ripple effects on the nation’s economy have been brought to the forefront.
