'Why is a board member doing PR?' - Ken Thompson on Adongo’s dollar withdrawal comments

Economist Kenneth Kwamina Thompson has raised concerns about Dr. Isaac Adongo. Dr. Adongo is a board member of the Bank of Ghana (BoG). Thompson questioned why he is publicly commenting on operational issues.

On May 17, during Newsfile, Thompson expressed his thoughts. He found Dr. Adongo’s remarks unusual and inappropriate for a board member.

Thompson said, “When I heard Dr. Isaac Adongo speaking about the over-the-counter dollar issue, I wondered why a board member would get involved.” He added that it is a public relations matter.

He emphasized that communication professionals should handle such issues. Board members should not engage in these discussions.

“There are many related issues,” he noted. “I wouldn’t have gotten involved at all as a board member.” He described Dr. Adongo's actions as rare and unprecedented.

His comments followed Dr. Adongo's announcement about restrictions on foreign currency access. In an interview with Evans Mensah on PM Express, Dr. Adongo explained the new policy direction.

He stated, “If you put your dollars in the bank account, it is okay.” However, he added that dollars can only be accessed for dollar-denominated transactions.

This announcement has sparked debate among critics. They are calling for clearer communication from the central bank.

Thompson believes such statements from board members create confusion about roles and weaken institutional discipline.