play videoKwaku Kwarteng, Chairman, Finance Committee of Parliament
Finance Committee clarifies earlier reports on Ghana’s foreign reserve position
Net International Reserves declined to US$3.58 billion ending June 2022
Finance Minister to deliver 2022 mid-year budget review
The Chairman of Parliament’s Finance Committee has clarified recent reports that the country’s gross international reserves had declined from US$9 billion in December 2021 to US$3 billion ending
This come after the Committee had laid a report before the house for the approval of a loan facility between the Government of Ghana and AfreximBank for $750 million.
Providing further clarity on the earlier figure, Kwaku Kwarteng in a statement described the action as regrettable.
“Mr Speaker this was an error. It was an unfortunate oversight,” he stated.
“According to the Bank of Ghana, Gross International Reserves of the country was US$9.7 billion at the close of December 2021. This declined to US$7.6 billion at the close of June 2022,” the statement read.
“In terms of Net International Reserves, the country [Ghana] closed December 2021 with US$6.08 billion. This position declined to US$3.58 billion at the close of June 2022,” it added.
Meanwhile, Chairman of the Finance Committee also requested that the Clerk at the Table in parliament ensures the records are accordingly corrected.
