May 24, 2024

The Majority Leader, Osei-Kyei-Mensah Bonsu, has taken a swipe at the Minority in Parliament over their claims regarding the operations of Bank of Ghana

The Minority, led by Dr. Cassiel Ato Forson, had raised concerns over the substantial amounts of money printed by the Central Bank in 2021 and 2022 to fund government operations.

They argued that this action is a direct violation of the Bank of Ghana Act and called for the Governor of the BoG to appear before Parliament to provide explanations.

However, the Majority Leader has come forward in defense of the BoG, pointing out that it’s not obligated to report directly to Parliament.

He criticized the Minority’s approach and urged against turning every matter into a political battle.

“The Bank of Ghana Governor does not directly report to Parliament. We should not make everything about NPP and NDC. Ato Forson should have known better because he has held the position of deputy minister of finance before and knows the operations of the Bank of Ghana,” emphasized Mensah Bonsu in an interview with Oman FM.

Mensah Bonsu further clarified that, except for reporting foreign exchange receipts, the Bank of Ghana is not legally required to submit daily activity reports to Parliament. He highlighted that the BoG has consistently adhered to the provision of reporting foreign exchange receipts as mandated by law.

The Majority Leader questioned the understanding of Dr. Ato Forson, a former Deputy Finance Minister, regarding the BoG’s reporting structure, considering his prior role in the erstwhile John Dramani Mahama administration.

He indicated that the intricacies of the Central Bank’s operations should be well-known to someone who had served in a finance-related capacity asserting that issues of this nature should not be politicized.

 

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