Isaac Adongo, the Member of Parliament for Bolgatanga Central and Spokesperson on the Economy for John Mahama’s Campaign Team, has announced that the next NDC government plans to overhaul the Bank of Ghana to ensure it fulfils its mandate effectively.
He criticized the current Central Bank leadership under Governor Dr. Ernest Addison, citing their failure to manage rising inflation and exchange rate instability.
Discussing the state of the economy, on Woezor TV, on Monday, October 21, Mr. Adongo labelled the Central Bank as inadequate for its purpose, urging Ghanaians to vote for John Mahama to rejuvenate the economy.
“The reason why we’re having inflation all over the place, interest rates all over the place, and exchange rates all over the place is because the vehicle for dealing with price development itself is not fit for purpose.
“Normally, in monetary terms, we say the BoG is monetary insolvent. The BoG is currently monetary insolvent. In order words, cannot cure this ailment without drinking the same poison that led it to die,” Isaac Adongo stated.
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