Thu, 10 Aug 2023 Headlines

BoG saga: Minority is a better source of public information than BoG — Prof. Smart Sarpong

BoG saga: Minority is a better source of public information than BoG —Prof. Smart Sarpong

Professor Smart Sarpong, a Senior Research Fellow at Kumasi Technical University, has commended the Minority in Parliament for its oversight responsibility.

He commended the NDC for the disclosure of crucial information regarding the Bank of Ghana (BoG) dealings.

During the Minority’s "Moment of Truth'' held on Tuesday, August 8, 2023, the Minority led by Dr. Cassiel Ato Forson was saddened over the GHc60.8 billion loss incurred by the Bank of Ghana last year.

According to the Minority, the "catastrophic decline" experienced by the bank in 2022 is a major concern.

"The bank recorded a staggering loss of GHS60.8 billion, which is equivalent to $6 billion. This is twice the amount we are to receive from our recent IMF bailout," he stated.

Discussing the issue on Peace FM's "Kokrokoo" morning show, Professor Smart Sarpong applauded the Minority's proactive approach to providing the public with necessary information.

According to Professor Sarpong, the Minority has proven to be a more reliable source of public information on this matter than the BoG itself.

"It tells you that the Minority, in this case, has become a better source of public information than the Bank of Ghana," he remarked.

He expressed concern over the Bank of Ghana's inability to effectively communicate and clarify the issues.

Prof. Sarpong went on to express his disappointment in the bank's poor public relations efforts, suggesting that the situation calls for a review of its communication strategies.

Gideon Afful Amoako
Gideon Afful Amoako

News ReporterPage: GideonAffulAmoako