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BoG Governor ‘Swerve’: We will come after him, until we see him, we are not stopping- Minority
The Minority Leader of the Opposition in Parliament, Dr.Cassiel Ato Forson who led the #OccupyBOGDemo today has expressed disappointment at the Governors of the Bank of Ghana for refusing to receive their petition in person.
According to him, as the Minority Leader he feels disrespected by the absence of the BoG Governor and his two deputies for sending the Director of Security, Wing Commander Kwame Asare Boateng to meet and receive their petition instead.
He made these remarks when the Director of Security was made to receive the petition on behalf of the BOG Boss, on the excuse that they were having a meeting with a team from the International Monetary Fund (IMF).
Against this backdrop, the minority leader declined to hand over the petition to the Director of Security of the Bank of Ghana, saying until they see him they are not stopping.
“First let me say that I feel disrespected as the leader of the Opposition in Parliament for the simple reason that we demanded to present a petition to the Governor of the Central Bank of Ghana, otherwise known as the Bank of Ghana. The Governor has two deputies, namely, Deputy 1 and Deputy 2, unfortunately, he has decided to disrespect us and his two deputies have also decided to disrespect us by not being here to receive the petition,” he said.
Furious Ato Forson said “We never said we were going to present our petition to the Director of Security or someone responsible for security with all due respect. They have actually mismanaged the affairs of the Central Bank., they have mismanaged the affairs of monetary policy. Today, Ghana, our beloved country, is on its knees.”
He further told the Head of Security that he is not the one responsible and for that reason the minority will not give him their petition, adding that “Let me also say that in summary, this Governor and this Bank of Ghana led by Governor Addison has unilaterally printed up to GH₵ 80 billion in two years without recourse to parliament. Aside, they have unilaterally written off about GH₵ 48 Billion being the government’s debt. Let me say that all of these were done without parliamentary approval. Let the Governor be aware that the printing of money is like alcoholism. The perceived good effect comes immediately, but the hangover comes after the party.”
Describing the situation, the Minority leader said, “Governor Addison printed money to finance the champagne lifestyle of President Akufo-Addo and Bawumia on an ‘Apeteshie budget’, today, our country is on it knees, the Central Bank of Ghana today is bankrupt technically, you are insolvent, you have a negative equity of 55.1 Billion and a loss one year of GH₵ 60 Billion. You have again projected to incur additional debt in the year 2023 and counting.”
“We will not allow you going forward to disrespect us and mismanage the affairs of the people of Ghana. Your act has indeed put 850,000 Ghanaians down the poverty line. We will hold you accountable, particularly the Governor. We are demanding his exit,” he added.
Ato Forson added that now that Dr.Addison has decided to disrespect them, they will not present their petition.
“We will go and come back again, we will come back here again. We will come and demand to see him in person, the crowd you’ve seen is just the beginning. trust me we will come back again, if he thinks the IMF is more important than the parliament of Ghana, If he thinks that the IMF is more important than the people of Ghana, he is here because of the people of Ghana and not IMF. so let him deal with the IMF, we will come after him. Until we see him, we are not stopping. This is just the beginning a lot more will happen,” the Minority leader concluded.
By Edem Mensah-Tsotorme
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GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
