Bank of Ghana lending to gov’t 'abnormal'

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Concerned 9 years ago

At the moment the country suffer a shortage of investment funds and of course households are struggling to make ends meet. Taxes will make these conditions even worse than they are at the moment.
Spending cuts will also hav ...
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At the moment the country suffer a shortage of investment funds and of course households are struggling to make ends meet. Taxes will make these conditions even worse than they are at the moment.
Spending cuts will also have a negative impact on investment and make Ghana more unattractive to foreign investors. No one is saying we don't need more resources. However, we have to look at the most obvious places
The leakages like spending on items not budgeted like the akonfem project, extraordinary amounts of judgement debts and the lack of clarity when it comes to the appraisal of our expenditure compared to budgets. We currently have a situation where budgeted items are not delivered and the unit cost of items more than 100% higher than previous years with inflation less than 20%.
All these factors are the results of corruption and until that is checked, the sacrifices which the IMF is proposing we make will be in vain and will only benefit the president and his cronies who scavenge like vultures trying to eat Ghana alive
CHARLES....Turkey 9 years ago

Increasing taxes is not going to help.The problem is that there are lot of holes in the tax revenue basket due to corruption. Also if few well directed and managed projects are funded it will be better than borrowing so much ...
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Increasing taxes is not going to help.The problem is that there are lot of holes in the tax revenue basket due to corruption. Also if few well directed and managed projects are funded it will be better than borrowing so much from BoG for 'unstructured projects'
Efo 9 years ago

This man is still in post, Oh my God help Ghana.

This man is still in post, Oh my God help Ghana.
Campaign Against Corruption 9 years ago

Parliament should pass a law to make the Bank of Ghana completely independent of the government and clearly delineate fiscal and monetary policy responsibilities of the government and the BOG respectively. The Central Bank Go ...
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Parliament should pass a law to make the Bank of Ghana completely independent of the government and clearly delineate fiscal and monetary policy responsibilities of the government and the BOG respectively. The Central Bank Governor should be able to refuse to lend to the government if he reckons it is inflationary and harmful to the economy. Good fiscal and monetary policy coordination been the Government and the BOG will go a long way to promote economic development, increase employment, douse inflation and mitigate the cascading downtrend of the cedi against major currencies.
Concerned 9 years ago

It will be difficult to refuse a request to lend to the government if the governor is appointed by that same government. Personally I don't believe in passing of more laws when the ones we already have are not being fully uti ...
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It will be difficult to refuse a request to lend to the government if the governor is appointed by that same government. Personally I don't believe in passing of more laws when the ones we already have are not being fully utilised. The impunity and the total disregard government have for the law will not be remedied with more laws. We just need an honest and strong leader to build those strong institutions we all talk about
ak 9 years ago

The govt. must practice what every Ghanaian does. If you do not have income, you do not incur costs on things you cannot afford to pay.

Simply cut down your over-bloated expenditure. Start by trimming down the size of the ...
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The govt. must practice what every Ghanaian does. If you do not have income, you do not incur costs on things you cannot afford to pay.

Simply cut down your over-bloated expenditure. Start by trimming down the size of the govt.
USMAN 9 years ago

Thanks to the useless university graduates at the BoG.

Thanks to the useless university graduates at the BoG.
NTIKUMA ANANSE 9 years ago

DR MANPAM IS SUCKED INTO THE DECEPTIVE WEB OF THIS CORRUPT AND INCOMPETENT NDC GOVERNMENT AND SHOULD BE SACKED. HE HAS GIVEN AWAY THE CENTRAL BANK'S INDEPENDENCE TO JOHN MAHAMA AND HIS NDC ON A SILVER PLATTER AND SHOULD BE HA ...
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DR MANPAM IS SUCKED INTO THE DECEPTIVE WEB OF THIS CORRUPT AND INCOMPETENT NDC GOVERNMENT AND SHOULD BE SACKED. HE HAS GIVEN AWAY THE CENTRAL BANK'S INDEPENDENCE TO JOHN MAHAMA AND HIS NDC ON A SILVER PLATTER AND SHOULD BE HAULED TO PARLIAMENT TO EXPLAIN AND RELIEVED OF HIS POSITION.
Armah 9 years ago

Enough taxes not being collected so govt respects to BoG for deification financing. Informal sector not paying taxes.

Enough taxes not being collected so govt respects to BoG for deification financing. Informal sector not paying taxes.
Hard Listeners 9 years ago

NDC commentators would not see this report nor comment on it. If they do expect to see excuses and shifting of blame to the NPP.

NDC commentators would not see this report nor comment on it. If they do expect to see excuses and shifting of blame to the NPP.
Ekow London 9 years ago

Central Bank lending to govt is the order of the day to plug deficits all over the world. Are these not the same rating agencies that signed off fraudulent Triple A products leading to the global financial collapse of 2007-20 ...
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Central Bank lending to govt is the order of the day to plug deficits all over the world. Are these not the same rating agencies that signed off fraudulent Triple A products leading to the global financial collapse of 2007-2008? Why trust them?
dani 9 years ago

WE CANT TRUST THE BANKSTERS THAT ARE RIPPING OFF GHANA BY CREATING INFLATIONS SO THEY CAN STEAL PEOPLE HOME ,LAND AND PROPERTY

WE CANT TRUST THE BANKSTERS THAT ARE RIPPING OFF GHANA BY CREATING INFLATIONS SO THEY CAN STEAL PEOPLE HOME ,LAND AND PROPERTY
DRUMBEAT 9 years ago

The BoG is printing money to finance gov't expenditure because the Mahama NDC gov't has looted the national purse into oblivion. E de be k3k3, hmmn, Ghana hasn't seen nothing yet under the incompetent, looting NDC gov't.

The BoG is printing money to finance gov't expenditure because the Mahama NDC gov't has looted the national purse into oblivion. E de be k3k3, hmmn, Ghana hasn't seen nothing yet under the incompetent, looting NDC gov't.
mr amin 9 years ago

what is happening to the cedi suit against BoG. secondly what is the benefit of increament in taxes n the cedi continues to fall in value. the value of the cedi is what matters not the quantity. BoG is a failed institution. m ...
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what is happening to the cedi suit against BoG. secondly what is the benefit of increament in taxes n the cedi continues to fall in value. the value of the cedi is what matters not the quantity. BoG is a failed institution. mismanege the cedi over the years.
kwasi 9 years ago

it is them and the banks in Ghana that are ripping us off

it is them and the banks in Ghana that are ripping us off

Bank of Ghana lending to gov’t 'abnormal'

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