¢22.04 bn overdraft: Allow independent auditor to verify – Economist


An Economist at the University of Education Winneba, Department of Economics Education, Dr Isaac Doku has stated that the Bank of Ghana(BoG) must step aside for an independent auditor investigate its financial statement to prove whether allegations of printing GH¢22.04 billion is true or false.

It was alleged by the Minority Ranking Member on the Finance Committee in Parliament, Hon. Cassiel Ato Forson that Bank of Ghana has printed an amount of GH¢22.04 billion to finance Government’s budget without parliamentary approval.

His reaction was in response to the 2022 Mid-Year Fiscal Policy Review which was presented to Parliament by the Minister for Finance on Monday, July 25th 2022.

But in response, the BoG denied allegations that it has printed GH¢22.04 billion in new money to finance the 2022 budget without recourse to Parliament.

It said the amount being referred to represented claims on government, and not new currency printed to support the government’s budget.

In a press statement dated July 26, 2022, the central bank said it found it necessary to provide clarity to the matter that was first raised by the Ranking Member of the Finance Committee, Dr Cassiel Ato Forson.

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Speaking on Atinka TV‘s morning show, Ghana Nie with Ekourba Gyasi Simpremu, Dr Isaac Doku urged the public not to believe both sides until investigations are done.

“We have to check Bank of Ghana’s financial statement. If we check the definition of money, it will help us know whether the GH¢22.04 billion was printed or not,” he said.

Meanwhile, he said it will be a serious issue if the allegations were true.

“The Bank of Ghana has responded that it was some money that they were taking from Government. I hope what they are saying is true because it is a big issue” he said.

Ghana| Atinkonline.com| Porcia Oforiwaa Ofori


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