{"id":194444,"date":"2024-06-28T13:13:46","date_gmt":"2024-06-28T13:13:46","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/06\/28\/you-have-21-days-to-clarify-under-reporting-of-remittances-dr-atuahene-to-bog\/"},"modified":"2024-06-28T13:13:46","modified_gmt":"2024-06-28T13:13:46","slug":"you-have-21-days-to-clarify-under-reporting-of-remittances-dr-atuahene-to-bog","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/06\/28\/you-have-21-days-to-clarify-under-reporting-of-remittances-dr-atuahene-to-bog\/","title":{"rendered":"You have 21 days to clarify under-reporting of remittances \u2013 Dr Atuahene to BoG \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Banking Consultant Dr Richmond Atuahene has given the Bank of Ghana 21 days to clarify the significant gap between its data on remittance inflows to Ghana and the figures tracked by the World Bank.<\/p>\n<p>According to Dr Atuahene, the central bank has been under-reporting total receipts from remittances, allowing some FinTech and other payment platforms to withhold significant forex to the detriment of the state.<\/p>\n<p>In the space of remittances, available data from the World Bank and the Bank of Ghana have contrasted each other. While the World Bank tracked a total of\u00a0about\u00a0<strong>$20.7 billion<\/strong>\u00a0as remittances inflow to Ghana from 2018 to 2022, the Auditor General\u2019s\u00a0\u00a0reports\u00a0on the Bank of Ghana\u2019s consolidated statements of foreign exchange receipts and payments within the same period tracked and accounted for only $9.5 billion, leaving a gap of some\u00a0<strong>$11.2 billion<\/strong>.https:\/\/datawrapper.dwcdn.net\/yQ8Jj\/1\/<\/p>\n<p>Responding to the Bank of Ghana\u2019s rejoinder on FinTech and remittances, Dr Atuahene stated that the central bank was under-reporting cash flows from remittances.<\/p>\n<p>He demanded that the bank provide data within 21-days to explain why the World Bank figures are relatively higher than those captured in the Audited General\u2019s forex report.<\/p>\n<p>\u201cI\u2019m giving them 21 days because I have more data and I\u2019m going to reveal it, because you cannot challenge the World Bank data, which I have confirmed,\u201d he lamented.<\/p>\n<p>\u201cYou are under-reporting, and this under-reporting comes because of the role of the FinTech,\u201d Dr Atuahene stressed while speaking on the\u00a0<strong>AM Show\u00a0<\/strong>on the\u00a0<strong>JoyNews channel\u00a0<\/strong>on June 26, 2024.<\/p>\n<p>Atuahene argued that the apex bank\u2019s rejoinder was baseless and failed to address the widening gap between remittance receipts it captured and those reported by the World Bank.<\/p>\n<p>\u201cSo I\u2019m giving them 21 days, let them retract it and let them get the data and the facts right. Other than that, I\u2019ll continue to release the data and explain the data to the public,\u201d he demanded.<\/p>\n<p><!-- CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Banking Consultant Dr Richmond Atuahene has given the Bank of Ghana 21 days to clarify the significant gap between its data on remittance inflows to Ghana and the figures tracked by the World Bank. According to Dr Atuahene, the central bank has been under-reporting total receipts from remittances, allowing some FinTech and other payment platforms [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":194445,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-194444","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>You have 21 days to clarify under-reporting of remittances \u2013 Dr Atuahene to BoG \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/06\/28\/you-have-21-days-to-clarify-under-reporting-of-remittances-dr-atuahene-to-bog\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"You have 21 days to clarify under-reporting of remittances \u2013 Dr Atuahene to BoG \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Banking Consultant Dr Richmond Atuahene has given the Bank of Ghana 21 days to clarify the significant gap between its data on remittance inflows to Ghana and the figures tracked by the World Bank. 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