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- Title
GHANA: Politicised Bank?
- Abstract
The Bank of Ghana is facing political challenges as opposition protesters demand the resignation of Governor Ernest Addison and his deputies over the loss of Cedis 60 billion in the 2022 financial year. The bank attributes the losses to various factors, including a haircut on government debt and operational expenses. However, analysts argue that the bank's close relationship with the ruling New Patriotic Party government and its illegal printing of money to lend to the government have contributed to the losses. The bank has also faced accusations of reckless spending and mismanagement, including extravagant travel expenses and the construction of a costly new headquarters.
- Subjects
GHANA; RESIGNATION from public office; TRAVEL costs; PUBLIC debts; GOVERNMENT lending; POLITICAL parties; CONSTRUCTION loans
- Publication
Africa Research Bulletin: Economic, Financial & Technical Series, 2023, Vol 60, Issue 10, p24489C
- ISSN
2053-227X
- Publication type
Article
- DOI
10.1111/j.1467-6346.2023.11364.x