President John Dramani Mahama yesterday swore in Dr Johnson Pandit Kwesi Asiama and Dr Zakari Mumuni as Governor and Deputy respectively of the Bank of Ghana with a task to uphold responsible fiscal management.
The mistakes of the previous governments in the management of the economy, President Mahama said should provide a blueprint to the new men at the helm of affairs at the central bank to turn around the fortunes of the economy.
He held that during the "supposed" banking sector cleanup exercise undertaken by the previous government, thousands of jobs were lost and lives disrupted because "decisions were made with a narrow focus rather than considerations of the human impact".
According to him, the Bank of Ghana had the opportunity to salvage some institutions, to protect livelihoods while ensuring stability, but instead, an approach that ignored human consequences prevailed. "The test of your patriotism in this solemn duty of economic governance lies in learning from these missteps-recognising that policies must not only enforce regulations but also safeguard the futures that depend on them. "The lessons of the past remind us of the dangers of fiscal recklessness and the lasting harm it can inflict on an economy," President Mahama noted.
