The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has allegedly rejected calls from the opposition National Democratic Congress (NDC) and the Minority caucus in Parliament for his resignation.In a report by Citi News, Dr. Addison is said to have stated in an interview with the international business news website Central Banking, that he has no intention of stepping down, characterizing the NDC's protest as "completely unnecessary.

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"He further criticized the Minority's approach, suggesting that they have alternative civilized channels to address their grievances rather than resorting to street demonstrations, which he referred to as "hooligans."“The Minority in parliament have many channels to channel their grievances in civilised societies, not through demonstrations in the streets as hooligans,” Addison added in reference to the #OccupyBoGProtest," he added.

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The #OccupyBoGProtest, organized by the NDC, aimed to protest against the economic crisis, which the demonstrators attributed to what they saw as inadequate fiscal policies implemented by the BoG.Dr. Addison also refuted the Minority's claims that he had printed money to finance the lavish lifestyle of the ruling government.

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He argued that the BoG had provided monetary financing during 2020 and 2022 to address specific crises, which he stated is legal under central bank law.The Central Bank reported significant losses of GHC60.81 billion for the 2022 financial year, a stark contrast to the GHC1.23 billion profit recorded in 2021.

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These losses were attributed to the government's domestic debt restructuring efforts and the depreciation of the cedi, among other factors.Regarding these losses, Dr. Addison clarified that the impairment of the bank's debt holdings, which led to the losses, was a conditionality for the IMF program. He emphasized that no debt was forgiven by the Bank of Ghana.Furthermore, Dr.

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Addison explained that the decision to construct the new headquarters for the BoG was made in 2019 when the bank was financially sound and had allocated some of its profits for the project. This was “when the bank was profitable and appropriated some of its profits for the new headquarters,” he said. “It was not a decision taken during a crisis.”

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