• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, July 9, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

BoG’s Failure To Check The Financial Indiscipline of Government Is The Reason For Ghana’s Economic Woes – Prof. Bopkin

February 1, 2023
Stephen M.Cby Stephen M.C
in Banking, Finance
0
BoG’s Failure To Check The Financial Indiscipline of Government Is The Reason For Ghana’s Economic Woes – Prof. Bopkin

Professor Godfred Bopkin, Finance and Economics Lecturer at the University of Ghana Business School

Prof. Godfred Bopkin, Finance and Economics lecturer in the Finance Department of the University of Ghana Business School has attributed the current economic mess of Ghana to the failure of the Bank of Ghana (BoG) to check the financial indiscipline of government.

According to Prof. Bopkin, instead of focusing on their supervisory and independent role as a bank to put in place checks and balances, the central bank’s regulators are found conspiring with the political leadership of the country to destroy the economy.

On his part, he thinks the regulators although aware of the dire consequences of the Domestic Debt Exchange Programme (DDEP) on financial institutions, coerced them into participating in it.

RelatedPosts

Bank Al-Maghrib Joins Afreximbank’s PAPSS to Drive Intra-African Trade

CalBank Marks 35 Years of Values-Driven Growth With ‘Red Week’

UBA Ghana Board Chair Wins Top Honour for Financial Stewardship at UBA Ghana

“I have said before; I have a lot of respect for those at the Bank of Ghana, and I’m sure the story will be told one day of how regulators teamed up with politicians over champagne and messed up Ghana’s financial sector.”

Prof. Bopkin
Dr. Ernest Addison 1
Dr. Ernest Addison, Governor of the Bank of Ghana

Prof. Bopkin further expressed disappointment in the regulators of the various financial institutions, adding that he is even more concerned about the financial institutions that have signed under the third amendment of the DDEP and is therefore worried about the aftermath consequences they would have to face.

“I feel sorry for the role that regulators have played in coercing these participating financial institutions…the regulators are there to protect the sector they regulate.”

Prof. Bopkin

Proceeding, the finance expert stated that even the academic community is amazed that the  government, whose borrowing has landed the country in trouble, is still asking Ghanaians from whom it borrowed money to adjust their lives while they (the government) continue to live in their luxuries.

Meanwhile another blatant allegation against the central bank of Ghana, was made by Cassiel Ato Forson, the newly appointed leader of the minority caucus in parliament, accusing the Governor of the Bank of Ghana, Dr. Ernest Addison for breaching the regulations guiding the work of the central bank.

Ghana’s High Inflation Is As A Result of Failed Financial Governance

Mr. Cassiel Ato Forson is of the view that the hikes in Ghana’s inflation is attributable to failed financial governance.

In a tweet post, Mr. Forson attributed the high inflation in the country and hikes in the Monetary Policy Rate to the actions and inactions of the central bank.

Dr.Ato Forson
Dr. Cassiel Ato Forson, Leader of the Minority caucus in Ghana’s Parliament

“Inflation is @54.1% and MPR now @28%. We are here largely because BoG has so far printed over ¢50 bn in one year & depleted net intl reserves to record low as of end- Dec.2022.

“BoG’s governor continues to breach Section 30(2) and 30(7) of BoG (Amendment) Act, 2016 (Act 918). Those destroying livelihoods of Ghanaians will soon be held to account!”

Cassiel Forson

This is coming after the Monetary Policy Committee of the central bank increased its monetary policy rate on Monday, January 30th, 2023.

This, the bank said is aimed at to moderating liquidity in the system to underpin macroeconomic adjustments taking place to drive inflation on a downward path.

Prof. Lord Mensah, an economist and Associate Professor, also at the Department of Finance, in the University of Ghana Business School, in this regard, advised that government stops depending solely on Monetary Policy Rate as an inflation targeting tool.

The economist, thinks to reduce inflation, the government should give attention to fiscal discipline – government spending.

“…If we spend in a prudent way, it will have a way of controlling our inflation.”

Prof. Lord Mensah

READ ALSO: BoG Discloses Its Plans of Implementing eCash, Speaks On Its Significance To Stakeholders

Tags: Bank of GhanaDDEPDr. Ernest AddisoninflationProf. Bopkin
Please login to join discussion
Previous Post

Prof Gatsi Calls for a Change in Act 930 to Accommodate Ethical Banking and Financial inclusion

Next Post

Sweden Should ‘Act Differently’ To Join NATO – Hungary’s Foreign Minister

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

Debby Reveals Professionalism Fuels Female Musicians
Entertainment

Debby Reveals Professionalism Fuels Female Musicians

July 9, 2025
Mass Jail Sentences Deepen Tunisia’s Political Crisis
Africa

Mass Jail Sentences Deepen Tunisia’s Political Crisis

July 9, 2025
Mustapha Gbande, Party, President.
General News

Every NDC Member Is Better Off Today – Gbande

July 9, 2025
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
Asia

Mass Casualty Incidents Besmirch Gaza’s Aid Struggle

July 9, 2025
GoldBod CEO Champions Value Addition in Mining
Extractives/Energy

Ghana Poised to Reap Big from Soaring Gold Prices

July 9, 2025
Hon. Haruna Iddrisu, Ghana's Minister for Education
General News

Ghana Moves to Overhaul Scholarship Regime with New Bill

July 9, 2025
Debby Reveals Professionalism Fuels Female Musicians
Entertainment

Debby Reveals Professionalism Fuels Female Musicians

by Esther Korantemaa OffeiJuly 9, 2025
Mass Jail Sentences Deepen Tunisia’s Political Crisis
Africa

Mass Jail Sentences Deepen Tunisia’s Political Crisis

by Lawrence AnkutseJuly 9, 2025
Mustapha Gbande, Party, President.
General News

Every NDC Member Is Better Off Today – Gbande

by Silas Kafui AssemJuly 9, 2025
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
Asia

Mass Casualty Incidents Besmirch Gaza’s Aid Struggle

by Comfort AmpomaaJuly 9, 2025
GoldBod CEO Champions Value Addition in Mining
Extractives/Energy

Ghana Poised to Reap Big from Soaring Gold Prices

by Prince AgyapongJuly 9, 2025
Hon. Haruna Iddrisu, Ghana's Minister for Education
General News

Ghana Moves to Overhaul Scholarship Regime with New Bill

by Evans Junior OwuJuly 9, 2025
Debby Reveals Professionalism Fuels Female Musicians
Mass Jail Sentences Deepen Tunisia’s Political Crisis
Mustapha Gbande, Party, President.
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
GoldBod CEO Champions Value Addition in Mining
Hon. Haruna Iddrisu, Ghana's Minister for Education
[/vc_row_inner]

Recent News

  • Debby Reveals Professionalism Fuels Female Musicians
  • Mass Jail Sentences Deepen Tunisia’s Political Crisis
  • Every NDC Member Is Better Off Today – Gbande
  • Mass Casualty Incidents Besmirch Gaza’s Aid Struggle
  • Ghana Poised to Reap Big from Soaring Gold Prices
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.