A Chartered Economist, Bernard Oduro- Takyi (BOT) has urged the handlers of the President, Nana Addo as a serial caller spearheading propaganda.
According to BOT, the President is expected to be on top of issues and it is therefore unacceptable when he is involved in lies about the status of the collapsed economy.
Mr Oduro-Takyi was reacting to comments by the President of the success of the Bank of Ghana (BoG) being an efficient manager of the currency on Ahotor 92.3fm midday news.
President Nana Addo Dankwa gave the BoG a pat on the back for the work it has done over the past seven years.
The President said the Central Bank has distinguished itself to the admiration of all well-meaning persons.
The President was speaking during an end-of-year cocktail event held by the Bank of Ghana where he said “Over the last seven years, the Bank of Ghana has distinguished itself to the admiration of all well-meaning persons and it has discharged its duties accordingly.
Adding that, the BoG has proven to be a sound banker to the government and a safe custodian of the nation’s precious assets, money. It has been an efficient currency manager, a reliable source and regulator, and above all, a dependable lender of the last resort through the banking sector.”
He added “Probably the most difficult my government met on coming into office in 2017 was the state of the banking and financial sector. Many of our banks and financial institutions were in distress and have been kept on unsustainable artificial life support by the central bank. The supervisory departments at the central bank were unfortunately not performing their duties. We were in a desperate situation, and urgent radical measures had to be taken to prevent the collapse of both the financial and banking sectors, the consequences were too dire to come to us.
“The Bank of Ghana, under the new leadership intervened and restored sanity and in the process saved the banks some and the funds of 4.6 million depositors. The government found some 21 billion Cedis to fund the cleaning-up exercise which has enabled a more robust financial and banking services sector to emerge the better to finance the rapid development of our growth.”
However, the Chartered Economist said, the President’s statement was in an opposition to various reports by reputable institutions on the economy.
Noting that, Article 183, clause 1&2 stipulates the functions of the Bank which it has failed woefully in ensuring the stability of the currency and its promotion, and wonders why the president would be involved in cheap propaganda.
“The gov’t inherited a $1 to GHC3. 98p and it is currently, $1 to GHC 12.10, he added.
He described the president’s actions as an insult to the intelligence of Ghanaians demonstrated academic incompetence.
Godfred Sey/ Ahotoronline.com
