The Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye, has descended on government for borrowing from the Bank of Ghana.
Bloomberg reported that the International Monetary Fund (IMF) is pushing the government to stop borrowing from its Bank of Ghana.
Prior to that, Minority Leader in Parliament, Cassiel Ato Forson, accused the Bank of Ghana for printing more than 55 billion to government in 2022.
In a tweet, Dr. Kwakye said it should not take IMF to direct government not to borrow from the Bank of Ghana.
“It should not take IMF to direct our government not to borrow from BoG”.
“BoG should refrain from breaching its own act by avoiding excess lending to government, as that fuels inflation and exchange rate depreciation”, he added.
The IMF wants government and Bank of Ghana to sign a commitment to zero financing.
The accord, market watchers, is a condition Ghana is required to meet in order to secure final approval for a $3 billion IMF bailout.
Latest Stories
-
‘It is exciting’ -Tennis star Katrina Adams poised for clinic in Ghana
15 minutes -
Nigeria: Five die as bomb explosion rocks Kano
33 minutes -
Volta’s decades of neglect must end – Council of State Member rallies MMDCEs to lead regional transformation
1 hour -
BoG justifies termination of a fraction of persons recruited in December 2024
1 hour -
UHAS hosts cancer care stakeholder engagement with American Cancer Society Support
1 hour -
Kennedy Agyapong urges fairness as he criticises NPP’s new internal election reforms
2 hours -
GRA set to introduce modified taxation programme
2 hours -
Israeli Ambassador writes: Why Iran’s nuclear ambition could no longer be Ignored
2 hours -
Ecobank–JoyNews Habitat Fair Day 2: A visual tour of Ghana’s premier home‑ownership event
3 hours -
“I’m so angry at myself” – Nicolas Jackson apologises after red card in Chelsea’s defeat to Flamengo
3 hours -
Israel-Iran Conflict: Geopolitical implications and what it means for Ghana
3 hours -
Ghana Boundary Commission assesses border security amid concerns over unapproved routes
3 hours -
Accra: Queenmother killed at naming ceremony in Gbawe
3 hours -
Security agencies donate GH¢1m to MahamaCares
3 hours -
NPP urged to prioritise reforms over early primaries – CDD Fellow cautions
3 hours