 |
| (Mahama Ayariga, Member of Parliament for Bawku Central) |
The Member of Parliament for Bawku Central, Mahama Ayariga, has asserted that reckless spending is to blame for Ghana's financial problems and the Bank of Ghana's historic GH60.8 billion loss in 2022. Ayariga blasted the bank for spending more than $200 million on a new office structure while the nation was through an economic crisis while speaking on PM Express. He disputed the administration's claims that the Covid-19 outbreak and the Russian-Ukrainian war had an impact on the nation's finances and said that the government had been wastefully spending money.
Ayariga cited the construction of the new Bank of Ghana head office building as an example of reckless spending. He argued that the central bank was using over $250 million for the project while the people were suffering, which he believed was a misuse of public funds.
Ayariga further claimed that reckless spending, waste, and corruption were prevalent throughout the entire government. He expressed concerns about looting and stealing, which he believed burdened the public and led to excessive borrowing. He criticized the government for not fulfilling its promises to the people of Ghana and for imposing high taxes and levies that impacted businesses and the standard of living.
Follow Us On Facebook: https://web.facebook.com/bfmnetwork
Ayariga's comments were made during a demonstration organized by the National Democratic Congress (NDC) to demand the removal of the central bank Governor and his deputies for mismanagement. While the protesters were unable to access the central bank due to security measures, party leaders, including MPs, were allowed to present their petition to the bank's representative.
However, banking consultant Nana Otuo Acheampong disagreed with Ayariga's claims. Acheampong argued that the Bank of Ghana's loss in 2022 was abnormal and beyond the control of the central bank due to the impact of the Domestic Debt Exchange Program (DDEP). He explained that the DDEP was not a regular occurrence and that the bank would not continue to sustain such significant financial losses in the future.
These differing opinions highlight the need for effective fiscal management, transparency, and accountability to address Ghana's financial issues.
Comments
Post a Comment