Minority Accuses BoG of Fraudulently Wiping off GH¢48 Billion in State Debt

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During the recent debate on the State of the Nation Address (SONA), the Minority in Parliament raised serious allegations against the management of the Bank of Ghana (BoG), accusing them of engaging in illicit actions related to the write-off of approximately GH¢48 billion in government debt. The caucus claims that these activities have resulted in the insolvency of the central bank.


Dr. Cassiel Ato Forson, the Minority Leader, stressed the importance of holding the BoG's management accountable for their actions. He stated, "The Bank of Ghana is now bankrupt and exists in name only. In 2022, the Central Bank reported a staggering loss of over GHȼ60.8 billion and a negative equity exceeding GHȼ55 billion."

Furthermore, Forson alleged, "The Governor of the Bank of Ghana and his two deputies unlawfully and excessively printed money to fund the government's inflated expenditures. Without parliamentary approval, they wrote off about GHȼ48.4 billion of government debt."

Related To This: BoG Charged With Plagiarism and Intellectual Property Theft

The Minority underscored the gravity of these accusations, urging the Ghanaian public not to overlook the issue and demanding accountability from the leadership of the Bank of Ghana. Forson concluded, "These are significant transgressions for which the Governor and his deputies must be held answerable, regardless of the time it may take."

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