The Bank of Ghana (BoG) enjoys substantial international regard, but its recent string of decisions has been called into question by economist and statesman Kwame Pianim.
Mr Pianim has voiced his perspective that officials from the Bank should have proactively convened meetings with members of the Finance Committee of Parliament.
He said such meetings would have facilitated a transparent discussion about the dire economic situation confronting the nation, along with presenting the outlined strategies to mitigate these challenges.
Had these discussions taken place, Mr Pianim believes that the controversies surrounding the Bank’s financial support to the government could have been avoided.
“They should have alerted the entire committee of the chair about the challenges and that we are going to print money,” Mr Pianim said in a broadcast today on TV3.
Mr. Pianim underscored that Ghana is currently grappling with a profound crisis.
“Where we are now is difficult, we have never been there before, we need to sit up now and, we are not on the road yet, we haven’t turned the corner,” he said.
This perspective contrasts with Finance Minister Ken Ofori-Atta’s statement to Parliament during the presentation of the mid-year budget review on July 31, 2023.
Mr. Ofori-Atta contended that the government had successfully overcome economic adversities, highlighting achievements such as averting medicine and essential supply shortages, avoiding queues at fuel stations, and maintaining consistent electricity supply.
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