- According to Osei Kyei-Mensah-Bonsu, the majority leader in the legislature, the Bank of Ghana (BoG) is not required to provide a direct report to Parliament.
- In response to the Minority’s request that the BoG account to Parliament for the 60 billion in announced losses, Mr. Kyei-Mensah-Bonsu criticized the Minority’s strategy and warned against turning every issue into a political fight.
- Concerns were voiced by the Minority, chaired by Dr. Cassiel Ato Forson, over the central bank’s planned money printing for government spending in 2021 and 2022.
- They contend that this behavior is a clear breach of the Bank of Ghana Act and have requested that the governor of the BoG appear before Parliament to explain.
- The governor of the Bank of Ghana does not directly report to the legislature. We shouldn’t focus just on the NPP and NDC. As a former deputy minister of finance who is familiar with the workings of the Bank of Ghana, Ato Forson ought to have known better, according to Mr. Kyei-Mensah-Bonsu, who made this statement in a Monday radio interview with Accra’s Oman FM.
- According to him, the BoG has regularly complied with the legal need to record foreign exchange receipts. He then questioned the comprehension of Dr. Ato Forson, a former deputy finance minister, about the BoG’s reporting system.
- He said that someone with experience in the banking industry should be familiar with the intricate workings of the central bank and that such matters shouldn’t be politicized.
- He also added that the Bank of Ghana is not constitutionally compelled to provide daily activity reports to Parliament except from reporting on foreign exchange receipts.
