Minority accuses BoG of illegally writing off GH¢48bn govt debt

The Minority in Parliament has accused the management of the Bank of Ghana (BoG) of engaging in illegal activities by allegedly writing off approximately GH¢48 billion of government debt.

According to the caucus, these actions have resulted in the insolvency of the central bank.

During the final debate on the State of the Nation Address (SONA) on Monday, the Minority Leader, Dr. Cassiel Ato Forson, called for accountability from the Bank of Ghana’s management.

“The Bank of Ghana is now bankrupt and exists merely in name. In 2022, the Central Bank recorded a colossal loss of over GHS60.8 billion and a negative equity of over GHS55 billion.

“The Governor of the Bank of Ghana and his two deputies illegally and excessively printed money to finance the government’s over-bloated expenditures. Mr Speaker, the Governor of the Bank of Ghana and his two deputies, without recourse to Parliament, wrote off about GHS 48.4 billion of government debt.”

“These are the cardinal sins for which the Governor and his two deputies must be held accountable, however long it takes,” he asserted.

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