
The Majority Leader in Parliament, Osei Kyei-Mensah-Bonsu, has taken a swipe at the Minority in Parliament over their allegations regarding the activities of the Bank of Ghana (BoG).
In an interview on Accra-based Oman FM, he pointed out that BoG is not required to report directly to Parliament, and therefore criticized the Minority’s approach while encouraging them to refrain from turning every issue into a political war.
“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,” he said.
It would be required that the Minority, led by its leader, 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 was a direct violation of the Bank of Ghana Act, and called for the Governor of the BoG to appear before Parliament to provide explanations.
BoG mandate
Mr Kyei-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 said the BoG had 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 a 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.