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Dr. Cassiel Ato Forson, the minority finance spokeswoman, has claimed that the governor of the Bank of Ghana (BoG) has produced money for the country without getting permission from Parliament.
He claims that the Central Bank has supported a crime that has to be addressed.
He said “Between January and June 2022, the Minister responsible for Finance and the government went to the Central Bank, and they encouraged the BoG to print money worth GH¢22 billion. They have printed GH¢22 billion fresh money without the knowledge of Parliament and without informing all of us.”
“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. If this trend continues, I won’t be surprised that we will end the year with inflation of about 50 percent,” he stressed.
He added: “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.”
Source:NKONKONSA.com
