Managing Editor of the Insight newspaper, Kwesi Pratt Jnr. has shared his thoughts on the Bank of Ghana's GH¢60 billion loss.
The Minoirty in Parliament has accused the Governors of mismanaging the bank and also blamed government for rendering the bank insolvent.
"The Bank of Ghana 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,” the Minority quoted during their "Moment of Truth" engagement with the media.
They added, “the bank has also recorded a negative equity of over GHS55.1 billion. What this simply means is that the Bank of Ghana is insolvent" and blamed the incumbent government stating "the once prestigious Bank of Ghana, the mother of all banks in Ghana, has been bankrupted and collapsed by this NPP economic management team led by Dr Mahamudu Bawumia with the complicity of the Governor of the Central Bank”.
"We in the National Democratic Congress (NDC) saw the red flags and have consistently warned of the mismanagement of the financial sector by the Governor of the Central Bank and his team of incompetent deputies," the Minority warned.
Reacting to the issue during Peace FM's "Kokrokoo" programme, Kwesi Pratt, in a brief comment, said; "Any person who will look at how the nation is going and the state of our finances and will applaud the Bank of Ghana, it's up to them."
Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
uncle kwesi still on it and at its best. kindly find out the role of a central bank so the nation should collapse and you will be happy to point fingers abi. the central bank is there to show support as a lender of last resort, read their reports and all their reports and you will see the losses from time to time. ignorance at its highest peak just educate yourself and read and stop jumping into every discussion. 70 years pls give us a break
To the bank of Ghana; hip hip hip , hurray.