Source: newsthemegh.com
In contrast to recent assertions, the Bank of Ghana has vehemently refuted claims that it gave the government financial support reaching GHS 80 billion.
During the years 2017, 2018, and 2019, the central bank did not provide any financial aid to the government, according to official statistics provided to Classfmonline.com.
The Bank of Ghana took preemptive action following the COVID-19 pandemic by facilitating a COVID-19 pandemic bond in 2020 and contributing GHS 10 billion to aid the government’s initiatives. This action was taken to solve the financial difficulties the pandemic had caused.
There are no documents that show the Bank of Ghana sent the government any money at any point in 2021, demonstrating the bank’s dedication to fiscal restraint and transparency.
The Bank of Ghana once again provided financial assistance to the government in 2022. The bank was instrumental in managing government debt maturities and paying salary payments with a disbursement of GHS 37.9 billion. Due to Ghana’s restricted access to the capital market during that year, this financial aid became imperative.
The Bank of Ghana declared that it remained committed to upholding its position as a trustworthy and independent financial institution.
The bank emphasized that its actions are a reflection of its dedication to promoting economic stability and upholding accountability and transparency in its interactions with the government.