Paapa Addison

I have been thinking a lot about the financial sector cleanup in relation to recent developments under the new administration, and I have questions: 1) By appointing the former deputy governor who was standing trial for his alleged role in the financial sector mess as governor, is the new administration suggesting the cleanup exercise, costing over 25 billion cedis, was unnecessary and a waste of resources? 2) What does the administration make of the 2015/16 asset quality reviews that showed many of the now defunct banks had toxic balance sheets? 3) Did the former deputy governor, now governor, fail to implement recommendations from the asset quality review? 4) Is the administration signaling plans to restore licenses for defunct banks or issue new ones? Will these banks be able to meet the new capital requirements? 5) The minority raises valid concerns about reputational risks in appointing someone who was facing trial for his alleged role in the banking sector mess. But, why was the case not fully prosecuted in all these years? PS: Petitioning the IMF seems futile as the IMF would likely say this issue falls within sovereign jurisdiction.