BoG loss was supervised by wreckless financial actions bankrolling gov’t waste to a drunken stupor – Franklin Cudjoe

The Founding President and Chief Executive Officer of IMANI Africa, Franklin Cudjoe has described the huge loss of Bank of Ghana as ”series of happily wreckless financial actions of the Central Bank, bankrolling government waste to a drunken stupor”.

Franklin Cudjoe made this statement on his Facebook wall on Wednesday, 9th August, 2023 sighted by Masemtvgh.com.

Franklin Cudjoe, who has been vociferous on national issues, expressed disappointment on the issues discovered by the Auditor General at the Bank of Bank and called for further investigations into the 2022 report of the Bank of Ghana.

The 2022 Annual report of the Bank of Ghana revealed that the Central Bank incurred a huge loss of GH₵60 billion of which GH₵48 billion were monies the Bank printed for the government which has become a bad debt for which reason, the Bank of Ghana has to write it off.

According to the report, the Central Bank is now in a negative equity of 55%, a condition which is dire in the fortunes of the Central Bank.

The Minority Leader in Parliament and his party, the National Democratic Congress (NDC) on Tuesday, 8th August, 2023, in a press conference, called for the immediate resignation of the Governor of Bank of Ghana and his Deputies for what he described as ”their incompetence” at the Central Bank.

The Minority Leader, Dr Cassiel Ato Forson, in his press conference, issued out a twenty – one (21) day ultimatum to the Governor and his Deputies to resign or face their wrath.