Although economist and politician Kwame Pianim has questioned the Bank of Ghana’s (BoG) recent run of judgments, the BoG is well regarded internationally.
Mr. Pianim has stated his opinion that Bank officials ought to have proactively scheduled meetings with members of the Parliamentary Finance Committee.
According to him, such gatherings would have permitted an open debate about the severe economic position the country is currently facing as well as the presentation of the indicated mitigation solutions.
Mr. Pianim thinks that if these negotiations had taken place, the controversy over the Bank’s financial assistance to the government may have been averted.
“They should have alerted the entire committee of the chair about the challenges and that we are going to print money,” Mr Pianim said in a broadcast today on TV3.
Mr. Pianim emphasized that Ghana is presently experiencing a severe situation.
“Where we are now is difficult, we have never been there before, we need to sit up now and, we are not on the road yet, we haven’t turned the corner,” he said.
This viewpoint differs with the one expressed to Parliament by Finance Minister Ken Ofori-Atta on July 31, 2023, when the mid-year budget review was presented.
Mr. Ofori-Atta said that the administration had effectively handled economic difficulties, noting successes including preventing shortages of necessary supplies and medications, avoiding lines at gas stations, and keeping a steady supply of energy.