Isaac Adongo, Member of Parliament for Bolgatanga Central and spokesperson for the economy on the John Mahama campaign team, has declared that a future National Democratic Congress (NDC) government will reform the Bank of Ghana to ensure it effectively fulfills its mandate.
In a recent interview with Woezor TV on October 21, Adongo criticized the Central Bank’s leadership under Governor Dr. Ernest Addison, blaming them for failing to control rising inflation and stabilize the exchange rate. He emphasized the urgency of voting for John Mahama to restore economic stability.
Adongo described the Bank of Ghana as “not fit for purpose,” drawing an analogy between the Central Bank and a tree that provides essential remedies for the economy. “When inflation rises, the medicine you need comes from the Central Bank. The same applies to managing exchange rates and interest rates,” he explained. However, he argued that the “tree” itself is sick and therefore cannot provide the necessary remedies to stabilize the economy.
He further accused the Central Bank of being “monetary insolvent,” suggesting it is incapable of addressing the country’s economic challenges without worsening the situation.
