The Finance Minister, Ken Ofori-Atta, has called on all Ghanaians to rally and provide the Bank of Ghana with the needed support in the ongoing construction of its new head office.
In an article titled “Citizens – Standing Strong with the Bank of Ghana,” Ofori-Atta urged the public to cease the uproar and opposition against the ongoing construction and render support to the Central Bank to build an edifice that is “a befitting office space for a country that hosts the AfCFTA.”
Ofori-Atta acknowledged that the country is facing economic challenges, but he said that the construction of the new BoG headquarters is a necessary investment in the future of Ghana’s economy.
“With respect to the BoG’s new headquarters, the evidence is clear that decisions to build had already been made long before these “losses” occurred,” he wrote. “It is important for us to support such a critical institution to modernize its operations and have a befitting office space for a country that hosts the AfCFTA and has the vision to become the financial services hub of the continent.”
Ofori-Atta also defended the work of BoG Governor Ernest Addison, who has been criticized for his handling of the economy.
“Governor Addison is a competent professional of quiet courage,” Ofori-Atta wrote, adding, “In these nearly seven years, we have worked together to ensure: the inviolability of the banking system; the establishment of the Consolidated Bank of Ghana (CBG) and the Development Bank of Ghana; the raising of over $10 billion in the Eurobond market and AfriExim bank. He brought inflation down to single digits of 7.9% for the first time; and managed an impressive period of currency stability in our country, including the implementation of the Goldfor-Oil programme.”
A section of Ghanaians have described the construction of the new headquarters as a needless investment, due to the prevailing economic conditions.
The Minority has scheduled a protest demanding the resignation of the Central Bank governor and his deputies for October 3. According to the Minority, the BoG governor has mismanaged the Central Bank, leading to the Bank recording losses of over $60bn.