Dr. Richmond Atuahene, a banking consultant has quizzed how the newly unveiled headquarters of the Bank of Ghana would contribute to financial stability.
According to Dr. Atuahene, the country’s financial stability is shaky with a grim economic picture of the crisis hence the $250m new headquarters has no connection aimed at stabilizing the economy.
Speaking on Starr Today, he stated, “How would a fixed asset like that contribute to financial stability? It is the Bank of Ghana that has created something which he doesn’t understand.
‘When he, what we call, he monetized, the Bank of Ghana monetized the government expenditure, which has fueled inflation since 2022 up to now. Nobody is talking about it’, he added.
Dr. Atuahene further stated, “The current inflation we’re experiencing is a printing of money, a monetization of government expenditure by Central Bank that has brought us inflation of 21%. Ivory Coast is 3.8 percent. Togo is 6.8 percent. I mean, so, how are we clapping for ourselves? Edifices don’t support it”.
He noted Zimbabwe had a Central Bank building as imposing as this one in the 1990s, yet its economy was one of the worst at the time.
