“Governor destroys the Central Bank and seeks to use the Domestic Debt Exchange as a cover” – Mahama jabs

Former president John Dramani Mahama said that the governor of the Bank of Ghana is concealing suspected central bank mismanagement by using the Domestic Debt Exchange Programme (DDEP).

The Bank of Ghana (BoG) claimed that the government’s Domestic Debt Exchange Programme (DDEP) was responsible for GH53.1 billion out of the overall GH60 billion loss, according to the National Democratic Congress (NDC) Flagbearer.

The Bank of Ghana stated in a statement that as a result of the auction failures, it lost $500 million in reserves in just two months and accrued a sizable overdraft with the government. In July 2022, the government of Ghana had to request assistance from the IMF after it became apparent that the country was on an unsustainable course.

Reacting to this on his Facebook post, Mahama wrote: “An incompetent Finance Minister damages the economy and uses Covid-19 and Ukraine/Russia war as cover-ups. A pliant Governor destroys the Central Bank and seeks to use the Domestic Debt Exchange (DDE) as a cover”

Read the full post on Facebook below:

Source: Ghanatodayonline.com