NPP Acknowledges Peaceful Protest, Condemns the Lack of Alternatives

In the wake of today's [October 3, 2023] Occupy Bank of Ghana (BoG) demonstrations led by the opposition National Democratic Congress (NDC), Richard Ahiagbah, the Director of Communications for the ruling New Patriotic Party (NPP), has commended the Ghana Police Service for their role in ensuring a peaceful protest. 

Mr. Ahiagbah expressed his views on the matter in a Twitter post, acknowledging the importance of peaceful demonstrations in a democratic society.

Ahiagbah stated, "While it is pointless to demonstrate against BoG at this time because the facts are evident, the Ghana Police Service has done a good job of shepherding a peaceful demonstration organized by an opposition that offers no alternatives. This is the sound of democracy, and ours is alive and well. Let's work together to deepen it."

The demonstrations organized by the NDC were aimed at addressing concerns related to the Bank of Ghana's policies and actions. Ahiagbah's recognition of the peaceful nature of the protest underscores the importance of free expression and democratic principles in Ghana.

He further highlighted that the Bank of Ghana's financial situation is not unique, drawing attention to other central banks worldwide that have faced substantial losses.

He cited examples such as the Reserve Bank of Australia (RBA), which recorded a 2022 book loss of 37 billion Australian dollars, and the Bank of England, where the UK Government is expected to cover a £150 billion bill to offset the bank's losses.

In addition, He referred to the Swiss National Bank (SNB), which reported a record preliminary loss of 132 billion francs for 2022, and the central bank of the Netherlands, which projected potential net interest losses of EUR 9 billion for the year 2023 through 2026 in a letter to the country's government in September 2022. 

He also noted that the US Federal Reserve (Fed) had faced challenges since autumn 2022, preventing it from remitting billion-dollar transfers to the US Treasury.

Mr. Ahiagbah underlined Ghana's resilience in the face of global economic challenges in 2022, emphasizing the country's determination to recover swiftly. He used the opportunity to convey his perspective on the NDC's role in governance, suggesting that they are not a viable option for Ghana due to their historical economic management.

"So, indulge me when I say the NDC is not an option for Ghana because whenever they are in power, they run the economy very badly", he added.

While it is pointless to demonstrate against BOG at this time because the facts are evident, the Ghana Police Service has done a good job of shepherding a peaceful demonstration organized by an opposition that offers no alternatives. This is the sound of democracy, and ours is…

— Richard Ahiagbah (@RAahiagbah) October 3, 2023