A Former Deputy Governor of the Bank of Ghana Emmanuel Asiedu-Mante has called on the new governor of the central bank to focus on fixing the country’s macroeconomic challenges.
According to Mr. Asiedu-Mante a turnaround of the economy can be achieved.
[contextly_sidebar id=”7AkaZSeNg8TCff8AbOdsPPWJUaK7rZVE”]His comments follow President John Mahama’s appointment of Dr. Abdul Nashiru Issahaku as the new BOG governor, following the retirement of Dr Henry Kofi Wampah last week.
Dr. Issahaku was the second deputy governor prior to his appointment.
Speaking to Citi Business News Mr. Asiedu-Mante said he is confident of Dr Abdul Nashiru Issahaku’s ability.
“We all know the challenges confronting the economy, high interest rate, high inflation, until recently unstable exchange rate. These are pressing issues that we need to address and I expect anybody who comes into that seat to deal with”, he said.
“Fortunately he has been a deputy governor and so he is aware of these problems and I expect him to address them because that is what the bank of governor is tasked to do anyway to maintain the value of the currency”, he added.
Mr. Asiedu-Mante was of the view that anybody who becomes governor of the central bank has the daunting task to deal with these problems which affect the macroeconomic stability of the country first before he thinks of anything else.
“The macro indices need to be stable so that the economy can function properly and any governor worth its salt will solve these problems as soon as possible, that unstable currency, high interest rate which affect business, he said”
He dismissed assertions that the appointment should have been put on hold till after the November 2016 elections.
“On the question of appointment that is the sole prerogative of the President as he appoints in consultation with the council of state. Probably the issue you are raising has to do with the time within now and the elections in November but I believe that most people are also worried about the vacuum that will be created with the governor having retired and of course the response to that you let someone act but the President in his wisdom is to appoint a new person to fill a vacuum that was created and it is well within his right to do so”, he said.
By: Norvan Acquah-Hayford /citibusinessnews.com/Ghana