Minority Warns Against Inflation As Bank of Ghana Print Money To Finance Government Budget

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The Ranking Member of the Finance Committee, Mr Cassiel Ato Forson have warned the Bank Of Ghana Governor Dr Ernest Addison against continuing printing of money to sponsor the government budget.

He said, the Bank Of Ghana have printed GH5.5 billion for the government to finance its operations and even going to print more. This will lead to inflation and its against the law.

In a Statement, he said “I want to caution him that they should stop financing the Ministry of Finance against the law. We want to caution the Governor of the central bank that there are consequences to his action. If today, he is not questioned, tomorrow he will be questioned”,

The Ranking Member Of Finance Committee claims he will write to the Chairman of the Finance Committee to invite the Governor of the central bank to appear before parliament and give reason to his decision.

Mr Cassiel Ato Forson claims the governor disregarded the Act of Parliament and did things contrary to what the law so and it should not be allowed.

This all came about as on Friday, the Bank of Ghana, decided to support the budget of the government with GH¢10 billion against the economic shocks caused by the COVID-19 pandemic.

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