BoG Releases Ghc 5.5 Billion to Support Fight Against Covid-19
The Finance Minister says the release was consistent with global policy responses of central banks
Jonas Danquah 
The Bank of Ghana (BoG) has released GH¢5.5 billion, of the GH¢10 billion emergency facility, earmarked to augment national efforts in the response against the covid-19 pandemic.
The Minister of Finance, Mr Ken Ofori-Atta disclosed this, when presenting before parliament a report on government’s decision to trigger section 30 (6) of the Bank of Ghana Act.
According to the minister, the release was consistent with global policy responses of central banks with large scale asset purchases to provide support to manage the pandemic.
However, the Minority in parliament have said, the money being taken from the BoG may be used for something other than its intended purpose.
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According to the the Ranking Member on Parliament’s Finance Committee, Cassiel Ato Forson, BoG’s GH¢10 billion emergency facility will be used by the Akufo-Addo government “to finance election promises particularly the election year expenditures. We think that this is avoidable, a waste and it should not be allowed.”
The minority said they will resist any attempt by the government to use the GH¢10 billion from the central bank to finance election promises.
