BoG Boards Must Remain Functional Despite New Gov’t – Finiance Minister
The Minister for Finance, Dr. Cassel Ato Forson, has called for the boards of the Bank of Ghana to remain functional despite changes in government, warning that frequent post-election disruptions are negatively affecting the operations of the central bank.
According to Dr. Forson, delays in reconstituting the Bank’s board after elections undermine effective governance and institutional continuity.
Speaking on the floor of Parliament, the Finance Minister stressed that the Bank of Ghana must be insulated from political transitions and allowed to operate without interruption.
“Regardless of a change in government, the central bank, being the centre of banking for Ghana, must continue to function until the government of the day is ready to reconstitute the board,” he said.
Dr. Forson revealed that he previously served on the Bank of Ghana’s board but stopped attending meetings following a change in government, believing his role was tied to representing the sitting Minister of Finance.
“I served for four years. When there was a change in government, I did not attend board meetings any longer because I felt that I was there to represent the Minister of Finance. It took seven months before the board was reconstituted, but the central bank must run beyond politics,” he noted.
Dr. Forson emphasised the need to provide the Bank of Ghana with the stability and institutional support required to effectively carry out its mandate, irrespective of political changes.
