Dr. Stephen Amoah, a Deputy Minister of Trades and Industry in Ghana, has highlighted the need for a shift in the country’s political landscape where both major parties, regardless of their governing status, take responsibility for issues and acknowledge wrongdoing. He made this statement in response to the opposition’s demand for the resignation of the Central Bank’s Governor within 21 days.
Dr. Amoah expressed that the call for the Governor’s resignation by the opposition National Democratic Congress (NDC) is not surprising and mentioned that if roles were reversed, the governing New Patriotic Party (NPP) might have made a similar demand. He emphasized the importance of moving beyond the pattern where parties only admit mistakes when in opposition and not when in power.
During an appearance on Joy News’s AM Show, Dr. Amoah urged for a new approach where both parties agree to common practices and realities regardless of the political climate. He stated, “We should have a new paradigm shift that can let us accept common practices and the reality when it comes to policies and some of these issues.”
Regarding the recent report released by the Bank of Ghana, Dr. Amoah argued that understanding the technicalities of financial issues is crucial before making judgments. He explained that without concrete evidence of wrongdoing, faulting the central bank based solely on the report’s findings is premature.
Dr. Amoah also addressed the issue of accumulated losses, pointing out that the financial challenges have developed over the years rather than occurring overnight. He suggested that the opposition should be forthright with Ghanaians about this fact.
In terms of policy flexibility, Dr. Amoah mentioned that certain conditions, such as health pandemics, can warrant temporary suspensions of fiscal policies and rules. He urged for a nuanced analysis, comparing such situations to a child’s medical emergency where immediate action is necessary.
The NDC had recently criticized Dr. Ernest Addison, the Governor of the Bank of Ghana, for alleged poor management and decisions in the country’s financial sector. They called for his resignation within 21 days and threatened to protest at the Central Bank if their demand was not met.
