Thousands of people protested in Accra, the capital of Ghana, calling for the removal of the governor of the central bank for what they claim is poor economic management during the greatest debt crisis in a generation.
The protests are the most recent manifestation of anger about growing living expenses, unemployment, and suffering in one of West Africa’s major economies. Last month, similar multi-day protests erupted in the capital.
Under the watchful eye of riot police, the throng march crowds march the central bank’s headquarters while blasting reggae music from speakers and demanding the resignation of bank governor Ernest Addison and his two deputies. Many people wore red and black, which are traditional funeral colors.
“We want Addison out because he has shown us that he is not able to manage the Bank of Ghana,” said Emmanuel Quarcoo, a 29-year-old jobless man.
“How could the whole Bank of Ghana incur losses.?He questioned, “What are they selling?”
In July, Ghana’s central bank announced a record loss for 2022 of 60.8 billion cedis ($5.3 billion), primarily due to turning.
Ghana, a country producing cocoa, has agreed to a $3 billion, three-year credit package with the International Monetary Fund to aid with the issue. One of the requirements to get such funds is debt restructuring.
Having held the position since 2017, Addison has a two-year remaining on his contract. Last month, he predicted that stronger economic indicators would soon result in greater salaries and purchasing power.
However, a more stable currency rate, lower inflation, and solid growth have not yet aided individuals with difficulties.
“I attended today’s march because living expenses are exorbitant. “No one is purchasing our goods, and our children are suffering because we cannot afford to feed them,” said Happy Agbezudor, a 45-year-old dealer.
