Date and Advocacy Consult Ghana, a Governance group has moved to the defence of the Bank of Ghana stating that Central took tough decisions to save the economy from collapse.
In a statement released yesterday, the group said “… However, the recent press briefing by the Governor of the Central Bank, has provided the requisite flesh to the skeletal report. The responses provided satisfactory answers to the lingering questions that characterised the discussions of the report. It became apparent that, the Bank of Ghana took the tough decisions to save our economy from collapse. In fact, but for their intervention, Ghana would have probably become the Sri Lankan case in Africa.”
Read full statement below:
PRESS STATEMENT
For Immediate Release
We have observed with keen interest, the discussions that have followed the publication of the Annual Report and Financial Statements 2022 of the Bank of Ghana. Indeed, just like many Ghanaians, we were disturbed by the findings in the report from a first reading. As an organisation, we demanded a probe into some of the findings.
However, the recent press briefing by the Governor of the Central Bank, has provided the requisite flesh to the skeletal report. The responses provided satisfactory answers to the lingering questions that characterised the discussions of the report. It became apparent that, the Bank of Ghana took the tough decisions to save our economy from collapse. In fact, but for their intervention, Ghana would have probably become the Sri Lankan case in Africa.
What is particularly satisfying, is the fact that, they adhered strictly to laid down procedures and applicable laws in offering the relevant interventions. The leadership of the Bank should therefore be commended instead of being condemned.
The concern about building a new office has also been reasonably explained to our satisfaction. It must be noted that, the need for a new Bank of Ghana office dates to the 1990s, a fact that was not fully captured in the report and not adequately figured in the conversations. Furthermore, the decision to undertake the new project also was taken in good times (when the Bank made profits) and that, all procurement laws were respected.
Opinions and views are shaped based on available information or data. To this extent, the new information by the Bank should inspire new thoughts and viewpoints about the performance of the Bank.
We therefore urge all Ghanaians to support the Bank in these trying times. We further urge more engagement with the Bank by all stakeholders. We recognise the right of all Ghanaians to freely express themselves through picketing and the like. However, the key question that remains to be answered is, to what end? What happens after the picketing?
Furthermore, we like to commend the police service for recognising the security implications of the proposed route and destination of the picketers and have accordingly advised an alternative route and picketing point. We urge them to continue doing their best to maintain law and order in our country especially in these trying times. We like to assure them that, they have the support of Ghanaians in this task.
It is our considered view that, further engagement with the Bank is the way to go! Picketing holds a lower prospect of helping Ghanaians understand the issues.
Let us support the Bank as they work towards recovery. Together, we can overcome our economic and financial burdens as a country.
God Bless our Homeland Ghana
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