In a resounding display of frustration, Accra's streets were inundated with passionate Ghanaians on Tuesday, united in their demand for the removal of central bank governor Ernest Addison. Their voices echoed through the city, expressing deep discontent over his alleged mismanagement of the economy during an unprecedented debt crisis, deemed the worst in a generation.
Amidst the backdrop of soaring living costs, widespread unemployment, and economic hardships in West Africa's powerhouse, these protests painted a vivid picture of a nation's struggle.
The demonstrators, under the vigilant gaze of riot police, marched defiantly to the central bank's headquarters. Reggae music blared from speakers, amplifying their cries for Addison and his deputies to step down, symbolized by the sea of red and black attire worn by participants in mourning for their country's plight.
Emmanuel Quarcoo, a 29-year-old jobseeker, articulated the sentiments of many: "Addison must go because he has proven incapable of managing the Bank of Ghana.
How can such colossal losses occur? What is the Bank of Ghana even selling?" The central bank's staggering reported loss of 60.8 billion cedi ($5.3 billion) in 2022, largely due to debt restructuring, further fueled the citizens' ire. Ghana, renowned for its gold, oil, and cocoa production, found itself compelled to enter a $3 billion, three-year loan program with the International Monetary Fund (IMF) as part of the crisis response, contingent on debt restructuring.
These protests not only reverberate with the cries of disillusioned Ghanaians but also underscore a nation's collective call for accountability in the face of daunting economic challenges.