Home Economy BoG Overdraft Was Appropriate And Needed To Keep The Government’s Operations Running – Analyst

BoG Overdraft Was Appropriate And Needed To Keep The Government’s Operations Running – Analyst

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BoG Overdraft Was Appropriate And Needed To Keep The Government's Operations Running - Analyst

Dr Amos Anim, a financial analyst, has praised the Bank of Ghana for providing funding to keep the government apparatus operational.

According to Dr Amos Anim, the BoG overdraft will go a long way toward assisting the nation as the government looks for a program under the auspices of the International Monetary Fund (IMF).

Paying salaries would have been challenging if not for the Bank of Ghana’s (BoG) overdraft to the Ministry of Finance.

Dr Anim continued by saying that the government needs money to ensure the payment of salaries because it is paying debts.

He believed that without the overdraft, even members of parliament would not have been able to receive their salaries.

“Nobody would have received salaries without BOG overdraft, including Parliament,”

You can probably guess what would happen in this nation if government employees weren’t paid their wages. The BoG overdraft has made sure that there won’t be any unrest. the smooth operation of the machinery of government

“As everyone is aware, it has been difficult to carry out the budget for the year. Revenue has fallen short of expectations, which has made financing difficult. As shown in the mid-year budget review, central bank overdraft has helped to close the financing gap in the absence of access to the international capital market and given the limited domestic financing.

Isaac Adongo, the member of parliament for Bolgatanga Central, made these remarks during a press conference where he accused the Bank of Ghana of financing

“Hon. Adongo is a parliamentarian who serves on the Finance Committee. He shouldn’t be saying this, in my opinion. He is aware of the situation and is aware of it. He is aware of the problems because he is on the Finance Committee.

“Hon. Adongo is aware that he wouldn’t get paid without BoG overdraft.”

“We expect our esteemed MPs to be patriotic and to support programs that will advance the welfare of the Ghanaian people.

Parliament is currently in session. I have no doubt that the Ministry of Finance will discuss the overdraft with Parliament at the appropriate time.

Vesta Daily
Author: Vesta Daily

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