Ato Forson got it wrong – BoG denies printing GH¢22 billion on parliament's blindside

The Bank of Ghana has denied a claim by the Ranking member of the finance committee of parliament, Dr. Cassiel Ato Forson, that it printed GH¢22.04 billion to support the government’s budget without parliamentary approval.

In a statement issued on Tuesday, 26 July 2022, the central bank said Dr Forson’s claim could not be farther from the truth.

The bank observed that Dr Forson’s reaction was in response to the 2022 mid-year fiscal policy review which was presented to parliament by the Minister of Finance on Monday, 25 July 2022.

It explained: “In Appendix 2A of the Mid-Year Fiscal Policy Review document, under Financing, out of the total financing of GH¢28.12 billion, an amount of GH¢22.04 billion was captured under BoG”, adding: “This is the amount being referred to by the Ranking Member as BoG’s printing of currency to support the budget”.

The Bank of Ghana said it deemed it necessary to provide clarity on the issue and to set the records straight.

Read the full statement below: