Vice President, Dr Mahamudu Bawumia has lauded the Bank of Ghana for efforts made towards salvaging the domestic economy at a rather critical time when the country was on a brink.

He argues that the Central Bank took necessary measures which helped pull the economy back from the situation and therefore commends them for being responsible in putting the interest of the good citizens of Ghana first.

“I must salute and give particular recognition to the Bank of Ghana, which has come under unfair criticism for taking the necessary measures which helped pull the economy back from the brink. The central bank provided needed financing to the Government at that critical moment. What the Bank of Ghana did was very responsible, in putting the interest of the good citizens of Ghana first”

Dr Bawumia said this when he delivered a public lecture on February 7, 2024 where he delivered his vision for the country as flagbearer of the New Patriotic Party ahead of the 2024 elections.

He further pointed that available data shows that the financing provided to Government by the Bank of Ghana was temporary.

“The Bank of Ghana has provided zero financing to Government in five out of the last seven years (2017, 2018, 2019, 2021 and 2023). The Bank of Ghana financing to government in the COVID-19 year of 2020 and liquidity crisis year of 2022 was because of a domestic and global crisis (underperforming domestic revenue and no access to international capital markets),” Dr Bawumia explained.

MA/NOQ

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