Dr. Cassiel Ato Forson, a former deputy Finance Minister, has alleged that government through the Bank of Ghana (BoG) has printed an amount of GH¢22 billion in new currency notes without Parliamentary approval.
According to him, the new notes were printed between January and June 2022 on the orders of the government acting through Finance Minister, Ken Ofori-Atta.
Dr. Forson said this important information is hidden on page 97 of Appendix 2a of the Mid-year budget under the section on Bank of Ghana.
“They have printed GH¢22 billion fresh money without the knowledge of Parliament and without informing all of us,” he said while addressing the press on Monday.
He stressed that the act is illegal and against the Bank of Ghana Act.
Linking the rise of Ghana's inflation to the GH¢22 billion printed, the Ranking Member on the Finance Committee of Parliament noted that, “if this trend continues I won’t be surprised that we will end the year with inflation of about 50 per cent.
“I am saddened, no wonder inflation is galloping, no wonder that our reserves position is dwindling. Because when you create new money out of the thin air, what happens is that inflation will go up and obviously because it is new money, you will end up losing your reserves because there would be new consumption.
“I want to urge the Governor of the central bank that he has engaged in gross illegality and in future if he is asked to print money, he should first come to Parliament before he acts,” Dr. Cassiel Ato Forson stressed.
Source: ghanaweb.com
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Even their intellectuals never cease exposing their ignorance and limited knowledge whenever they speak, they shun reading, and if they struggle to read, they lack understanding...so weak dumb a party full of blockheaded and unintelligent propagandists. Never again!
NDC as usual don't read as the Vice President said sometime ago is true by this episode.
Bank of Ghana has denied this statement from Ato Forson. I want the government and the BoG take this lies by the MP seriously and bring him to the parliament privileges committee and also file a writ of summons against him in the law court. Fiifi Kwetey did the same thing by telling the whole world that the NPP government by president Kufour and the BoG have sold the Gold reserves of the bank which turned out to lies. During his vetting as a minister he said it is a political talk and did not know what came over him to make such pronouncement. They want to come to power so any lie which will cause the disaffection for NPP has to be told.
Ato forson, tell us. How can someone present a document with information emanating from that person only for you to say he the presenter have hidden something in the very document he presented to you. If the person don't want you to see something, will he put in the document in the first place? At times politics makes some people to lose their senses. If the NPP is struggling, the NDC cannot be the alternative either. You forget you have classmates from primary one to graduate level who sat in the same class with you and you weren't more intelligent than them so think before speaking, don't speak before thinking. Ghanaians are getting fed up with these NPP/ NDC toys. If the finance minister had kept exgratia for MP's in that document without commenting on it, you would have kept quiet because you stand to benefit. You people have made us to know you too much
BALDHEADED FUNNY FACE LIAR IS SO WRONG LIAR LIAR. AS NDC ALWAYS DO IS TO RUN TO MEDIA AND LIE, LIE, LIE AS ALWAYS.