Dr. Pianim urged Ghanaians to cease blaming the BoG officials for the current economic challenges, emphasizing that their actions did not constitute fraud but rather stemmed from incompetence and mismanagement.
Speaking in an interview with an Accra-based broadcaster, Dr. Pianim stressed that calling for the governor's resignation would not provide a solution to the problems at hand.
He pointed out that should Dr. Addison resign, the responsibility would likely fall to the Minister of Finance, Ken Ofori-Atta, who is deeply entwined with the ongoing economic crises. Appointing someone inexperienced in navigating these challenges would not be a practical solution.
Dr. Pianim emphasized that the BoG did not commit any wrongdoing by failing to seek parliamentary approval before supporting the government's efforts to revive the struggling economy.
He noted that the suspension of the Fiscal Responsibility Act effectively signaled that the regulations governing fiscal matters could not be adhered to.
This suspension should have prompted a corresponding review of Article 36 of the Amendment BoG Act, which governs the central bank's role in emergencies.
According to Dr. Pianim, it is the responsibility of the Minister of Finance to report to parliament in such situations.
Parliament should have questioned the status of Article 36 of the Banking Act when the Fiscal Responsibility Act was suspended. Both acts are complementary, and their suspension should have been addressed concurrently.