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Add alleged ¢22bn printed by BoG to current debt stock – Minority to government

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The Minority in Parliament has demanded that the alleged ¢22 billion printed by the Central Bank be added to the current debt stock of the country.

Currently standing at ¢393 billion, Ranking Member on the Finance Committee, Dr Cassiel Ato Forson says adding that to the debt stock will shoot it over 90%.

According to Mr Forson, conversations he has heard suggest that the government seeks to categorise the amount as an overdraft.

“This 22 billion is not part of the debt. So the debt number that they have reported of 393 billion excludes the 22 billion,” he said in Parliament today.

He insisted in that “even if it is an overdraft, why is it not part of the public debt.”

But the Deputy Finance Minister, John Kumah has defended his side’s decision.

The Ejisu legislator claims the amount given to the government by the Central Bank does not necessarily mean fresh cash has been printed.

Meanwhile, Dr. Ato Forson claimed that the statement offered nothing and that Ghanaians including MPs and the Speaker are suffering.

On Monday, he accused the Bank of Ghana of printing fresh currency notes between January and June 2022.

The information, according to Dr Forson, is hidden on page 97 of Appendix 2(a) of the Mid-year budget under the section on Bank of Ghana.