The Bank of Ghana (BoG) has released the first tranche of GH¢5.5 billion of the GH¢10 billion emergency facility the government is seeking to support the national response to the fight the coronavirus disease (Covid-19, the Minister of Finance, Mr Ken Ofori-Atta, has disclosed.
The release, he said, was consistent with global policy responses of central banks with large scale asset purchases to provide support to manage the pandemic.
He made this known on Thursday [May 28, 2020] when he laid a report on the limit of borrowing of the government under sub-section (6) of section 30 of the Bank of Ghana Act, 2002 (Act 612) in the novel coronavirus (COVID-) emergency.
After the laying of the report, the Speaker referred it to the Finance Committee for consideration and report.
However, the Minority has expressed its readiness to resist the move by the government to borrow GH¢10 billion from the central bank, describing such borrowing as unprecedented.
The Ranking Member on the Finance Committee, Mr Cassiel Ato Forson, accused the government of seeking the funds from the central bank just to use the money to finance the elections expenditures of the New Patriotic Party (NPP).
Source: Daily Graphic
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