\n
A banking consultant, Dr. Richmond Atuahene has challenged the\u00a0Bank of Ghana\u00a0to explain why there is a significant difference between its reported remittance inflows to Ghana and the figures provided by the World Bank.<\/p>\n
Dr. Atuahene believes that the\u00a0Bank of Ghana\u00a0has been under-reporting remittance receipts, leading to potential revenue loss for the state.<\/p>\n
He has therefore given the\u00a0Bank of Ghana\u00a021 days to provide data to clarify the discrepancies.<\/p>\n
Dr. Atuahene claims to have additional data supporting his challenge to the\u00a0Bank of Ghana\u00a0and argues that the under-reporting of remittances is due to the role of FinTech and other payment platforms.<\/p>\n
\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 in a myjoyonline.com report.<\/p>\n
\u201cYou are under-reporting, and this under-reporting comes because of the role of FinTech,\u201d Dr. Atuahene suggested.<\/p>\n
He added that the BoG\u2019s explanation for the differences in its report and that of the World Bank is baseless and does not address the widening gap between remittance receipts it captured and those of the World Bank.<\/p>\n
\u201cSo, I\u2019m giving them 21 days, let them retract it and get the data and the facts right. Otherwise, I will continue to release the data and explain the data to the public,\u201d he demanded.<\/p>\n
Meanwhile, the World Bank data shows a total of $20.7 billion in remittance inflows to Ghana from 2018 to 2022, while the\u00a0Bank of Ghana\u2019s reports only accounted for $9.5 billion during the same period, leaving a gap of approximately $11.2 billion.<\/p>\n
EAN\/MA<\/p>\n
Source:\u00a0<\/strong>www.ghanaweb.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
A banking consultant, Dr. Richmond Atuahene has challenged the\u00a0Bank of Ghana\u00a0to explain why there is a significant difference between its reported remittance inflows to Ghana and the figures provided by the World Bank. Dr. Atuahene believes that the\u00a0Bank of Ghana\u00a0has been under-reporting remittance receipts, leading to potential revenue loss for the state. He has therefore […]<\/p>\n","protected":false},"author":1,"featured_media":194567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-194566","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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