The Governor of the Bank of Ghana (BoG) has come under blazing fire from the Association of Concerned Businessmen.
The association says that the Governor, Mr. Henry Kofi Wampah, should have used the recent report that he had resigned as an escape route to vacate his position, as he has failed as the number one man at the nation’s central bank.
The association in a strongly-worded statement signed and issued in Accra by its chairman, Mr. Yaw Okrah, said that the fact that the BoG has failed to protect the Ghana cedi makes the governor a failure.
“The governor should do the honorable thing and vacate his position as he is not getting things right,” it said.
According to the association, the BoG should come out boldly and tell Ghanaians about what has happened to the measures it put in place to check the depreciation of the cedi against the dollar.
“Facts on the grounds are very simple, the BoG has failed in protecting the cedi,” it reiterated.
It said that the BoG is not forthcoming with the necessary review of the measures to put in place to curb the dollarization because the measures did not work at all.
“After rushing with the measures without consulting the relevant stakeholders, the BoG cannot tell us what has happened so far because it has failed,” it said.
The concerned businessmen said that the governor has no moral justification to talk about the depreciation of the cedi as he has failed to put proper measures in place to save the situation.
The association said that the measures by the BoG have forced people out of business.
“Apart from pushing people out of business, others have resorted to the use of unorthodox means to smuggle dollars out of Ghana,” he said.
It said: “The fact of the matter is clear, BoG has failed and this does not need a rocket scientist to say.
The association said that, as it is now, it would be an honour for the governor to throw in the towel because he has failed Ghana.
“Initiatives by the BoG are not business-friendly and that is creating huge difficulties for the economy and the earlier the governor steps aside the better,” it concluded.
Source: The Enquirer
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