{"id":1158934,"date":"2022-07-26T10:00:19","date_gmt":"2022-07-26T10:00:19","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/07\/26\/bog-has-printed-%c2%a222b-without-parliamentary-approval-ato-forson-alleges\/"},"modified":"2022-07-26T10:00:19","modified_gmt":"2022-07-26T10:00:19","slug":"bog-has-printed-%c2%a222b-without-parliamentary-approval-ato-forson-alleges","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/07\/26\/bog-has-printed-%c2%a222b-without-parliamentary-approval-ato-forson-alleges\/","title":{"rendered":"BoG has printed \u00a222b without parliamentary approval \u2013 Ato Forson alleges"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/07\/maxresdefault-34-1024x576.jpg\" \/><\/p>\n<div>\n<p><div class=\"youtube-embed\" data-video_id=\"JSucWq1M8nM\"><iframe loading=\"lazy\" title=\"Government has convinced BoG to print GHS 22 billion without approval \u2013 Dr Ato Forson\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/JSucWq1M8nM?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/p>\n<p>Former Deputy Finance Minister,\u00a0Dr.\u00a0Cassiel Ato Forson has accused the government of encouraging the Bank of Ghana to print an amount of GH\u00a222 billion without Parliamentary approval.<\/p>\n<p>According to him, the fresh currency notes were printed between January and June 2022.<\/p>\n<p>The information, according to Dr Forson, is hidden on page 97 of Appendix 2a of the Mid-year budget under the section on Bank of Ghana.<\/p>\n<p>\u201cThey have printed GH\u00a222 billion fresh money without the knowledge of Parliament and without informing all of us,\u201d he said while addressing the press on Monday.<\/p>\n<p><!-- \/22191989129,1002554\/MGL\/mgl_ado_atunwa_300x250 --><\/p>\n<p>The Ranking Member\u00a0on the\u00a0Finance Committee\u00a0of Parliament said the act is illegal and against the Bank of Ghana Act.<\/p>\n<p>He indicated that the printing of the currencies has contributed to the rise in inflation, adding that \u201cif this trend continues I won\u2019t be surprised that we will end the year with inflation of about 50 percent.\u201d<\/p>\n<p>\u201cI am saddened, no wonder inflation is galloping, no wonder that our reserves position is dwindling. Because when you create new money out of the thin air, what happens is that inflation will go up and obviously because it is new money, you will end up losing your reserves because there would be new consumption,\u201d he said.<\/p>\n<p>As a result, he urged the Minister to return and deliver a new mid-year budget since the omission of the GH\u00a222 billion cedis is pervasive and scandalous.<\/p>\n<p>He also had a word for the Governor of the Bank of Ghana.<\/p>\n<p>\u201cI want to urge the Governor of the central bank that he has engaged in gross illegality and in future if he is asked to print money, he should first come to Parliament before he acts.\u201d<\/p>\n<p><strong>READ ALSO:<\/strong><\/p>\n<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"wLnm-P1vIz0\"><iframe loading=\"lazy\" title=\"Minority describes statement as \u2018empty\u2019 \u2013 Adom TV News (25-7-22)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/wLnm-P1vIz0?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Former Deputy Finance Minister,\u00a0Dr.\u00a0Cassiel Ato Forson has accused the government of encouraging the Bank of Ghana to print an amount of GH\u00a222 billion without Parliamentary approval. According to him, the fresh currency notes were printed between January and June 2022. The information, according to Dr Forson, is hidden on page 97 of Appendix 2a of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1158936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[21427,8685,3808,4072,1084,4073,2101,21428],"class_list":["post-1158934","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-22b","tag-alleges","tag-approval","tag-ato","tag-bog","tag-forson","tag-parliamentary","tag-printed"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1158934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1158934"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1158934\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1158934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1158934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1158934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}