Government has printed GH¢22b worth of new cedis without parliamentary endorsement – Ato Forson charges

Ken Ofori-Atta presents Mid-Year spending plan

Ato Forson blames government for printing cash without endorsement

Ato Forson blames BoG for taking part in an unlawful demonstration

 

Ranking Member of Parliament’s Finance Committee, Dr. Cassiel Ato Forson

 

Dr. Cassiel Ato Forson, a previous representative Finance Minister, has claimed that administration through the Bank of Ghana (BoG) has printed a measure of GH¢22 billion in new money notes without Parliamentary endorsement.

As indicated by him, the new notes were printed among January and June 2022 on the sets of the public authority acting through Finance Minister, Ken Ofori-Atta.

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Dr. Forson said this significant data is concealed on page 97 of Appendix 2a of the Mid-year financial plan under the segment on Bank of Ghana.

“They have printed GH¢22 billion new cash without the information on Parliament and without illuminating us all,” he said while tending to the press on Monday.

He focused on that the demonstration is unlawful and against the Bank of Ghana Act.

Connecting the ascent of Ghana’s expansion to the GH¢22 billion printed, the Ranking Member on the Finance Committee of Parliament noticed that, “on the off chance that this pattern proceeds with I won’t be astonished that we will end the year with expansion of around 50%.

“I’m disheartened, no big surprise expansion is dashing, no big surprise that our stores position is lessening. Since when you make new cash out of the meager air, what happens is that expansion will go up and clearly on the grounds that it is new cash, you will wind up losing your stores since there would be new utilization.

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“I need to encourage the Governor of the national bank that he has taken part in gross wrongdoing and in future assuming he is approached to print cash, he ought to initially come to Parliament before he acts,” Dr. Cassiel Ato Forson focused.

Government has printed GH¢22b worth of new cedis without parliamentary endorsement - Ato Forson charges
Government has printed GH¢22b worth of new cedis without parliamentary endorsement – Ato Forson charges

GH¢22 billion worth of new cedis printed without parliamentary endorsement – Ato Forson charges

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