Dr. Richmond Atuahene, a banking consultant has fired shots at the government and the Bank of Ghana for clapping for themselves when edifice do not support inflation or economic stability.
According to Dr. Atuahene, 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.
The banking consultant noted that 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, “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”.
“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”, he added.
He further added, “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”.
