Ranking Member of Parliament's Finance Committee, Isaac Adongo, has refuted Finance Minister Ken Ofori-Atta's characterization of Bank of Ghana Governor Ernest Addison as a capable professional.

Mr Adongo, who also serves as the Member of Parliament for Bolgatanga Central, asserted that Addison's management of the economy has been nothing short of calamitous.

“Is that how you describe someone as professional? That you ignore the laws and wipe out the entire money reserve that is the basis of all monetary policy actions of the government? You have destroyed all of them making the BoG unfit for purpose,” Adongo said in an interview on Eyewitness News on Citi FM on Thursday.

Mr. Adongo additionally alleged that Dr Addison had not effectively overseen the management of the cedi.

“If the cedi stabilises at 30% in 2016 and you have moved it to 54%, we should praise you because you managed it better some time ago? Why have you suddenly forgotten how you did it if you are a professional?” Adongo asked.

Adongo's remarks came in response to Ofori-Atta's defense of Addison's performance, as articulated in an article titled "Citizens – Standing Strong with the Bank of Ghana."

Ofori-Atta cited several accomplishments during Addison's tenure, including safeguarding the stability of the banking system, the establishment of the Consolidated Bank of Ghana (CBG) and the Development Bank of Ghana, successful fundraising exceeding $10 billion in the Eurobond market and AfriExim bank, achieving a historic reduction in inflation to 7.9%, and maintaining a commendable period of currency stability in the nation.

However, Adongo dismissed these achievements, asserting that they were overshadowed by Addison's shortcomings.

“What the Central Bank Governor has done is the worst record that wipes off his entire career in the sector,” Adongo said.