BoG Governor to be summoned by Parliament

A member of the Minority in Parliament, John Jinapor, has served notice that the Governor of the Bank of Ghana, Dr Ernest Addison, will be hauled to the House to answer for the release of funds to the government.

According to the Member of Parliament for Yapei-Kusawgu Constituency, the Bank released GH¢22 billion to the government for spending in excess of the GH¢10 billion approved in the House.

“If you check the budget appendix, the Bank of Ghana has released GH¢22 billion to President Akufo-Addo more than 100 percent of what this House approved.

“But let me serve notice to the Governor of the Bank of Ghana that whether he likes it or not, we shall haul him here and ensure that he is held liable for these infractions.”

The former Deputy Minister for Power was contributing to discussions on the 2021 budget on the floor of the House on Thursday, March 18.

He accused the president of borrowing excessively on the Eurobond market.

According to him, the total borrowing by three of President Nana Addo Dankwa Akufo-Addo’s predecessors amounted to $4.5 billion.

But the president has, within a spate of four years, according to the National Democratic Congress (NDC) MP, borrowed a total of $13 billion from the Eurobond market.

Mr Jinapor said upon all that, there is nothing to show for as the economy performed abysmally in the first term of the president.

He questioned some of the figures, particularly on the debt to GDP ratio, saying they have been cooked by the government.

“What we are seeing defies logic, it defies economics, and it cannot stand the test of time.”