Ghana Police Outline Route For Minority Protest Against Bank Of Ghana: Major Roads To Be Blocked

• Ghana Police Service has outlined the route for the Minority's demonstration against the Bank Of Ghana
• The Minority will not be allowed to picket at the Bank of Ghana Headquarters
• The Ghana Police Service has also announced that some roads will be blocked to accommodate the protestors

The Minority will not get its wish to picket at the Bank of Ghana headquarters on Tuesday, October 3, 2023.

Police have outlined the route for the protest, which does not include the central bank building.

Protesters are expected to converge at the Kwame Nkrumah Circle and go through Adabraka to Ridge, then the National Theatre to the High Court Complex.

The closest they are expected to get to the Bank of Ghana is the Traffic Light U-Turn at the National Lottery Authority, and then they will head back towards Independence Square.

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The police service assured it had enough officers to ensure peace and security throughout the picketing period.

Some roads will also be blocked during the demonstration, including the road from Independence Square in front of the National Lottery Authority towards the Old Parliament Traffic.

The protest had been postponed several times due to a disagreement over the route, as the Minority had wished to picket at the central bank’s headquarters.

The Minority demanded the resignation of the governor of the Bank of Ghana and his deputies after it recorded losses of GH¢60.81 in the 2022 fiscal year and the use of over $250 million to construct a new headquarters.

Losses due to Domestic Debt Exchange Programme

The BoG 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.

BoG also said it 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 added that 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