Managing Editor of the Insight newspaper, Kwesi Pratt Jnr. has shared his thoughts on the Bank of Ghana’s GH¢60 billion loss.
The Minoirty in Parliament has accused the Governors of mismanaging the bank and also blamed government for rendering the bank insolvent.
“The Bank of Ghana recorded a staggering loss of GHS60.8 billion, which is equivalent to $6 billion. This is twice the amount we are to receive from our recent IMF bailout,” the Minority quoted during their “Moment of Truth” engagement with the media.
They added, “the bank has also recorded a negative equity of over GHS55.1 billion. What this simply means is that the Bank of Ghana is insolvent” and blamed the incumbent government stating “the once prestigious Bank of Ghana, the mother of all banks in Ghana, has been bankrupted and collapsed by this NPP economic management team led by Dr Mahamudu Bawumia with the complicity of the Governor of the Central Bank”.
“We in the National Democratic Congress (NDC) saw the red flags and have consistently warned of the mismanagement of the financial sector by the Governor of the Central Bank and his team of incompetent deputies,” the Minority warned.
Reacting to the issue during Peace FM’s “Kokrokoo” programme, Kwesi Pratt, in a brief comment, said; “Any person who will look at how the nation is going and our the state of our finances and will applaud the Bank of Ghana, it’s up to them.”