'Money Does Not Like Noise' - Prof Baah Boateng Reacts To Gabby Otchere-Darko's Tweet | Politics

Professor William Baah Boateng, the Head of Economics Department on the University of Ghana, has responded to information that over 700 million {dollars} is to hit the Central Bank's account to resolve the cedi depreciation.

A publication by The Chronicle newspaper dated twenty fourth October, 2022, quoted the cousin of President Nana Addo, Gabby Otchere-Darko to have revealed in a tweet final Friday that "$790 million is expected to hit the Bank of Ghana account and that should help improve the current turmoil in the forex market".

This cash, he hinted, will shore up Ghana's foreign money.

But to Professor William Baah Boateng, Gabby Otchere-Darko want to not have made such public announcement as a result of he'll create an issue for the Governor of the Bank of Ghana within the occasion that the cash does not arrive.

He emphasised; "Money does not like noise. When it happens this way, you put pressure on the Governor because if the money doesn't hit the Governor's account today or tomorrow and the cedi depreciates, everybody will blame the Governor."

"Yes [central bank] they can also have their weaknesses here and there but if I have to blame, I don't think that they will have 10 percent . . . the key issue actually comes from the fiscal side because if fiscal money is not backed by production, there is no way that it won't have an effect on your economy."

"You don't need to announce it...It doesn't help. I will repeat, money does not like noise!", he additional confused.