BoG only financed government in 2020 and 2022

Contrary to recent claims, the Bank of Ghana has strongly denied allegations that it provided financial support totaling GH¢80 billion to the government.

According to official data provided to Classfmonline.com, the central bank did not extend any financial assistance to the government during the years 2017, 2018, 2019 and 2021.

In the wake of the COVID-19 pandemic, the Bank of Ghana took a proactive step by facilitating a COVID-19 pandemic bond in 2020, contributing GH¢10 billion to support the government's efforts. This move aimed to address the economic challenges brought about by the pandemic.

Throughout the year 2021, there are no records indicating that the Bank of Ghana provided any form of financial support to the government, emphasising its commitment to financial transparency and responsibility.

In the subsequent year, 2022, the Bank of Ghana once again extended its support to the government. With a disbursement of GH¢37.9 billion, the bank played a crucial role in covering salary payments and managing government debt maturities.

This financial assistance became necessary due to the capital market's limited access to Ghana during that year.

The Bank of Ghana said it remains dedicated to upholding its role as an independent and responsible financial institution.

The bank stressed that its actions reflect its commitment to fostering a stable economic environment while maintaining transparency and accountability in its dealings with the government.