The Governor of the Bank of Ghana (BoG), according to the Minority Spokesperson on Finance, Dr. Cassiel Ato Forson, has printed money for the country without getting permission from Parliament.
He claims that a crime that has to be addressed has been continued by the Central Bank. The Finance Minister and other government officials paid the Central Bank visits between January and June 2022, during which time they asked the BoG to print GH22 billion in notes, the man claimed. Without telling the Parliament or us as a whole, they minted GH22 billion in a new currency.”
Speaking to the media after Finance Minister Ken Ofori-Atta delivered the government’s mid-year budget and economic policy to Parliament, Ato Forson claimed that the country’s high inflation is due to the country’s new currency.
“Our savings are running out, and inflation is out of control, therefore I can feel sorry. Because when you generate new money out of nothing, inflation increases, and because it is new money, you will inevitably lose your reserves because there will be new spending. I won’t be shocked if this trend continues and we end the year with an inflation rate of almost 50% “He tensed up.
When the need to issue more notes arose, he pleaded with the Governor of the BoG to seek parliamentary approval rather than repeat the unlawful motion. “I want to urge the governor of the central bank that he has participated in severe criminality and the future, if he is asked to print money, he should first come before Parliament before he acts,” the speaker continued.
