An Economist at the University of Ghana Business School has torn into the Minority’s demand for the resignation of Bank of Ghana Governor, Dr Ernest Addison.

According to Dr Patrick Asuming, the calls are not justified and not anchored on any sound legal or financial basis.

“I don’t think that this merits the resignation of the Governor and deputies.”

https://myjoyonline.com/bog-governor-deputies-must-resign-within-21-days-minority/

The NDC and its Minority Caucus at a news conference on Tuesday demanded the resignation of the Central Bank's Governor and issued a 21 days ultimatum to Dr. Ernest Addison and his two deputies for superintending over the unprecedented ¢60.8 billion loss last year.

The Minority Chief Whip also took aim at the Central Bank for the construction of a new head office amidst the current crisis.

Read also: https://myjoyonline.com/bog-to-blow-250m-on-new-head-office-amid-its-huge-losses-ndc/

But speaking to JoyNews, Dr Asuming expressed worry about the politicisation of the whole issue of the resignation.

He noted that although it is right for the bank to be criticised and for it to accept the criticism, “but whether it means that we should be calling for their resignation, I don’t know.”

According to him, on the issue of the Central Bank printing notes, there is a legitimate reason for the banks to be criticised.

“You cannot be printing money for the government to spend and turn around to raise the policy rate to try and mop out the excess liquidity.

"I think that side is problematic, that particular course of action was problematic and on that score, you can criticise the Central Bank,” he said.

They added that “the problem is that there has been so much problem with the fiscal side of which the governor and his deputies in their view found it necessary to absolve some of the problems from the fiscal side.”

He said that the roots of the fiscal problems should be traced back to why the Finance Ministry was unable to manage the country's debt to the extent that the DDEP was required and the BoG felt compelled to assist.

Also read: https://myjoyonline.com/minoritys-demand-for-bog-governors-resignation-is-a-good-call-prof-mensah/

On the other hand, Economist, Prof Lord Mensah has backed the Minority’s call for the resignation of the Bank of Ghana Governor and his deputies.

Speaking on Joy FM’s Top Story on Tuesday, Prof Mensah explained that the call is in the right direction.

According to him, finance, law and economics go together, therefore in areas where laws do not work, no good financial trend is seen, and the same applies to the economy.

“The call is justified. From where I sit, it is a good call,” he said.