Ghana’s Addison blames predecessors for banking system weaknesses
New governor closed seven banks in 12 months in banking system clean up
The governor of the Bank of Ghana says he “inherited” a financial system in distress when he assumed the role in March 2017.
Speaking in Accra on December 1, Ernest Addison blamed his predecessors for the state of the banking system.
“Our predecessors continued to provide liquidity support to these weak failing banks, without addressing the underlying problems that led to the illiquidity and insolvency of these institutions,” the governor said. He didn’t name any specific individuals.
Addis
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