Home Finance Over draft from BoG is not printing of money Dr. Kumah Schools...

Over draft from BoG is not printing of money Dr. Kumah Schools Dr. Ato Forson

Deputy Finance Minister

Deputy Finance Minister Dr. John Ampotuah Kumah has schooled his former colleague Deputy Minister Dr. Ato Cassiel Forson Baah on section thirty (30) of the Bank of Ghana Act that allows Central Government and Bank of Ghana (BoG) to operate on over draft basis within the laws of the country.
According to him within the BoG balance sheet they can give an overdraft to the government as a loan which can be paid within specified period and this is not the first time any government has done that.

Finance Minister middle

“When he was a Deputy Minister, BoG supported the government of Ghana on the same arrangement within the Bank of Ghana Act, what has changed that today we are told that the new economics from NDC is that when Bank of Ghana gives money to government is call printing of money. I am surprised, this is not economics and they have to come again. It just show their incompetence and lack of appreciation of situation, we are within the laws”.
“At a press conference on Tuesday, July 26, 2022 the former Deputy Minister made some baseless claims that Bank of Ghana has printed twenty two billion cedis ( GHc 22b); first of all the statement is false and not true, there is no foundation to that claim and he want Ghanaians to treat that with the contempt it deserves”.

Dr. John Ampotuah Kumah

He said it is not true that the finance minister has hidden information on that as purpoted by Mr. Ato Forson. It’s a public document and given out there for everybody to read, how did he pick this document went through page 97 and said that the information there has been hidden; what is the meaning of that we in the finance ministry gave you a document and you found out that there is an information about 22 billion and your position is that it is hidden?. It shows you clearly that the NDC’s problem is their dislike for reading”.
He emphasized that there is no basis for the hiding of any information, “nobody should impugn the integrity of the finance ministry and finance Minister of this government”.
“For your information, we have given them, it is his responsibility and that of every Ghanaian to read and understand it and the content in it, if you read it and find information there we have not hidden it from you”.
Kwaku Sakyi-Danso/Ecowasnews.com

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