'Printer' Addison and his deputies attempt to justify GHS60.8billion loss should be held responsible — Ato Forson

The Minority Leader in Parliament, Dr. Cassiel Ato Forson has slammed Dr. Ernest Addison, the Governor of the Bank of Ghana (BOG) and his deputies for mismanaging state funds.

In a statement released by the Bank of Ghana (BoG), the Domestic Debt Exchange Programme (DDEP) where the stock of Government of Ghana's debt had to be cut in half, was a key prerequisite for an International Monetary Fund bailout.

“A major plank of the corrective action required for the IMF program was the Domestic Debt Exchange, where the stock of Government of Ghana debt was to be halved from 105% of GDP to 55% of GDP by 2028. The holders of Government debt had their debt instruments exchanged for new ones with lower interest payments and longer terms. Despite the losses inflicted on households and banks, the threshold of 55% of GDP was not met,” the central bank stated.

However, the Minority leader noted that the BoG's attempt to justify its extravagant spending deepens their stance on his resignation.

The opposition National Democratic Congress (NDC) called for the resignation of the Governor of the Bank of Ghana, Dr Ernest Addison, over alleged mismanagement of the nation’s central bank.

The party threatened to occupy the central bank if the governor and his team refused to vacate their positions after a 21-days.

“In this regard, we call for the resignation of the Governor of the central bank and his deputies within 21 days from today," it said.