Dr. Amoako Baah confirms that the Bank of Ghana is still financing the government.
The Minority Spokesperson on Finance, Dr. Cassiel Ato Forson, has affirmed that the Governor of the Bank of Ghana (BoG) has printed cash to help the public authority's financial plan without parliamentary endorsement.
As indicated by him, "Among January and June 2022, the Minister liable for Finance and the public authority went to the Central Bank, and they urged the BoG to print cash worth GH¢22 billion. They have printed GH¢22 billion new cash without the information on Parliament and without illuminating us all."
In any case, the Central Bank in an explanation gave on Tuesday, July 26, 2022, said Dr. Ato Forson's case is misleading.
"How much GH¢22.04 billion addresses net cases on government, and not new cash printed to help the public authority's financial plan," it said, taking note of that the net cases of GH¢22.04 billion involved the stocks and securities sold by banks, the country's distribution of unique drawing freedoms (SDRs) by the International Monetary Fund (IMF), drawdown of government offsets with the national bank and negative for the public authority inferable from closeout disappointments."
Addressing this, nonetheless, a previous Political Science speaker at the Kwame Nkrumah University of Science and Technology (KNUST), Dr. Richard Amoako Baah said Ato Forson's case is valid.
In a meeting on Neat FM's 'Me Man Nti' program, he said, "It's valid . . . the bank of Ghana is as yet supporting the public authority; don't be hoodwinked. The Bank of Ghana doesn't get stores . . . they are supporting the public authority and it isn't just in Ghana. At the point when things become troublesome the national bank prints cash to assist the public authority with paying inside obligations. Where did the Bank of Ghana get the cash? Makola? I can let you know that when things get more earnestly they will rehash it . . . "
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