Ghanaian opposition calls for resignation of central bank governor

Ghana’s main opposition party, the National Democratic Congress (NDC) has given a three-week ultimatum to the central bank governor and his deputy to resign.

NDC accuses Ernest Addison of recklessness and mismanaging the bank – with the bank accused of illegally printing money and spending over $8.6m on travel expenses.

A recent annual report of the central bank indicated it recorded about $5.4bn in losses last year.

The bank has denied the NDC allegations and attributed the losses to a domestic debt restructuring deal that was part of the conditions for securing a bailout from the International Monetary Fund, local media reported.

Ghana is currently trying to navigate its way out of its worst economic crisis in a generation.

The country’s inflation hit a record 54% in December last year.

This May the country secured a $3bn IMF bailout programme to address the economic crisis.