NDC MPs Suspend September 5 Demonstration Against Bank Of Ghana Bosses

• The Minority in Parliament has suspended its September 5 protest against the Bank of Ghana
• Police had secured an injunction against the Minority’s protest because of security concerns
• Minority leader Cassiel Ato Forson said the protest will be held after court issues are decided

The Minority in Parliament suspended its planned protest against the Bank of Ghana governor and deputies.

The suspension comes after police secured an injunction against the September 5, 2023 demonstration.

The police had raised security concerns and asked the court to temporarily stop the protest.

The Minority's plan was to converge in front of Parliament House and then march through some principal streets in Accra including Osu cemetery, Makola-Rawlings Park, Opera Square and end at the Bank of Ghana.

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Minority Leader Dr Cassiel Ato Forson has assured their supporters that the protest will be held after the ruling of the court is delivered.

Its goal is for the Bank of Ghana governor, Ernest Addison, and his deputies to resign.

The Minority initially said it would not change the route for their protest against the Bank of Ghana.

Bawku Central MP Mahama Ayariga said the NDC MPs had the democratic right to use the desired route.

Losses due to Domestic Debt Exchange Programme

The BoG grabbed headlines after it disclosed in its 2022 annual financial report that it lost GH¢55.12 billion due to haircuts that its investments suffered under the controversial Domestic Debt Exchange Programme (DDEP).

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BoG said its holdings of marketable and non-marketable instruments were exchanged for lower-yielding instruments under the DDEP.

The central bank governor said in the 2022 report that he was working to ensure equity was restored to a positive path by the end of 2027.

Meanwhile, YEN.com.gh reported that the BoG will no longer lend money to the government in its bid to avoid a repeat of the loss that happened in 2022.

The central bank said the zero-financing policy is also part of a grand plan to recoup some GH¢60.8 billion it lost in 2022.

Source: YEN.com.gh