Banking consultant, Dr. Richmond Atuahene has called for the implementation of a new agricultural policy to address inflation.
He emphasised the need for Ghana to better utilise the agricultural value chain to help reduce food inflation.
According to Dr. Atuahene, tackling food inflation is crucial, as it must be addressed before overall inflation can be effectively reduced, both in the short and long term.
Dr. Atuahene also criticized the Bank of Ghana as a loss-making institution with excessive staffing.
In an interview on ABC in the Morning, he explained that the Minority’s concerns over the appointment of Dr. Johnson Asiamah as Governor stem from the previous government’s decision to overstaff the bank with family and friends.
He noted that the fear is that Dr. Asiamah’s appointment could lead to downsizing, resulting in these employees being laid off.
Dr. Atuahene has also called for the tracking, tracing, and capture of at least 95% of remittances entering the country, emphasizing that this could strengthen the national currency, the cedi.
He pointed out that, according to the former Governor of the Bank of Ghana, the country generated $5.1 billion in remittances in 2023. However, the Bank of Ghana’s official website only recorded $2.8 million.
