{"id":1159141,"date":"2022-07-26T13:10:24","date_gmt":"2022-07-26T13:10:24","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/07\/26\/government-has-printed-gh%c2%a222b-worth-of-new-cedis-without-parliamentary-approval-ato-forson-alleges-politics\/"},"modified":"2022-07-26T13:10:24","modified_gmt":"2022-07-26T13:10:24","slug":"government-has-printed-gh%c2%a222b-worth-of-new-cedis-without-parliamentary-approval-ato-forson-alleges-politics","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/07\/26\/government-has-printed-gh%c2%a222b-worth-of-new-cedis-without-parliamentary-approval-ato-forson-alleges-politics\/","title":{"rendered":"Government Has Printed GH\u00a222b Worth Of New Cedis Without Parliamentary Approval \u2013 Ato Forson Alleges | Politics"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Dr.\u00a0Cassiel Ato Forson, a former deputy Finance Minister, has alleged that government through the\u00a0Bank of Ghana\u00a0(BoG) has printed an amount of GH\u00a222 billion in new currency notes without Parliamentary approval.<\/p>\n<p>According to him, the new notes were printed between January and June 2022 on the orders of the government acting through Finance Minister,\u00a0Ken Ofori-Atta.<\/p>\n<p>Dr. Forson said this important information is hidden on page 97 of Appendix 2a of the Mid-year budget under the section on\u00a0Bank 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>He stressed that the act is illegal and against the\u00a0Bank of Ghana\u00a0Act.<\/p>\n<p>Linking the rise of Ghana&#8217;s inflation to the GH\u00a222 billion printed, the Ranking Member on the Finance Committee of Parliament noted that, \u201cif this trend continues I won\u2019t be surprised that we will end the year with inflation of about 50 per cent.<\/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.<\/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 Dr.\u00a0Cassiel Ato Forson\u00a0stressed.<\/p>\n<p>\u00a0<\/p>\n<h3><strong\/><\/h3>\n<p><span class=\"peace_black_text_4\">Source: ghanaweb.com<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<table width=\"100%\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"clear:both\">\n<tr>\n<td><span class=\"peace_red_text_1\">Disclaimer<\/span>: <span class=\"peace_ash_text_1\">Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of . Please report any inappropriate  to us, and we will evaluate it as a matter of priority.<\/span><\/td>\n<\/tr>\n<\/table>\n<p>Featured Video\n<\/p>\n<p><div class=\"youtube-embed\" data-video_id=\"wB2-NHndouE\"><iframe loading=\"lazy\" title=\"Our Fight Against Sim Card Registration Is Unending- Hon. Ras Mubarak Cautions Gov&#039;t\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/wB2-NHndouE?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dr.\u00a0Cassiel Ato Forson, a former deputy Finance Minister, has alleged that government through the\u00a0Bank of Ghana\u00a0(BoG) has printed an amount of GH\u00a222 billion in new currency notes without Parliamentary approval. According to him, the new notes were printed between January and June 2022 on the orders of the government acting through Finance Minister,\u00a0Ken Ofori-Atta. Dr. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1157154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[187],"tags":[8685,3808,4072,1457,4073,21453,1090,2101,1753,21428,4941],"class_list":["post-1159141","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics","tag-alleges","tag-approval","tag-ato","tag-cedis","tag-forson","tag-gh22b","tag-government","tag-parliamentary","tag-politics","tag-printed","tag-worth"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1159141","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=1159141"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1159141\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1159141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1159141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1159141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}