Chairman of Parliament’s Finance Committee, Isaac Adongo, has launched a fierce defence of Dr. Johnson Asiama, challenging Minority members to publicly acknowledge what he says is the Governor’s success in stabilising Ghana’s economy after inheriting a financial crisis.
Speaking on TV3’s Hot Issues on Sunday, May 10, 2026, the Bolgatanga Central MP said the current leadership of the Bank of Ghana had restored credibility to monetary policy and anchored inflation expectations after what he described as years of economic mismanagement under the previous administration.
“I am asking him and his colleagues to hold a press conference tomorrow to congratulate Dr. Asiama for cleaning their mess and setting the economy on a sound path,” Adongo declared.
He argued that the current economic stability being witnessed under the Central Bank Governor was once considered impossible.
“At the time we came, monetary policy credibility was gone to the wind. Today, there is monetary policy credibility. Inflation is anchored and inflation expectations are fully anchored,” he said.
Adongo’s comments come in response to concerns raised by former Finance Minister Dr Mohammed Amin Adam, who recently petitioned the International Monetary Fund over the Bank of Ghana’s worsening negative equity position captured in its 2025 audited financial statements.
In his petition to the IMF under Ghana’s Extended Credit Facility programme, Amin Adam warned that the Central Bank’s financial situation could pose serious risks to Ghana’s macroeconomic stability and fiscal outlook.
He cited figures showing that the Bank of Ghana’s negative equity position rose sharply from GH¢61.32 billion in 2024 to GH¢96.28 billion in 2025, while the group’s losses increased from GH¢58.62 billion to GH¢93.82 billion within the same period.
But Adongo dismissed the concerns as politically motivated, accusing the former Finance Minister of conveniently ignoring the economic burden inherited from the previous government.
“Honourable Mohammed Amin belongs to a political party, he must remain relevant in his political party and if it means sidestepping technical knowledge to do political propaganda, I cannot begrudge him,” he stated.
The outspoken MP further accused former economic managers of imposing a staggering GH¢91 billion fiscal burden on the country through the banking sector cleanup exercise and the Central Bank’s financial losses.
“The GH¢30 billion spent collapsing Ghanaian banks plus the GH¢61 billion they left behind amounts to GH¢91 billion fiscal cost on the state, and he conveniently forgot about that,” Adongo charged.
