Demonstrators demand resignation of Ghana’s central bank head

By Enoch Fiifi Forson

ACCRA, Ghana (AA) - Hundreds demonstrated Tuesday in the capital of Accra, demanding the immediate resignation of the Bank of Ghana Governor Dr. Ernest Addison and his deputies.

Led by minority members of parliament, the protest was fueled by outrage because of the reported loss of $513,000 in 2022.

Protesters chanted slogans such as "Bank of Ghana now bankrupt," underscoring frustration with financial mismanagement perceived within the central bank.

Adding to the anger was the revelation of a proposed $250 million expenditure on a new central bank headquarters, a move deemed insensitive given the country's prevailing economic hardships.

As demonstrators marched to the bank's head office to deliver a petition, they were informed that bank officials were in a meeting with the International Monetary Fund (IMF).

Minority Leader Cassiel Ato Forson vowed: "We will come back again."

Ghana is grappling with record-high inflation, a cost-of-living crisis, and escalating public debt.

The government has implemented measures such as tax hikes to bolster revenue to address the challenges.

Youngsters conducted a three-day demonstration last month, in which they criticized government officials, including President Nana Akufo-Addo, for perceived mismanagement of the economy since assuming office in 2016.

Their anger stemmed from unfulfilled promises that had initially generated high expectations.