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COVID-19: Ghana Government Supported By The Bank Of Ghana

Posted by Osei Agyemang
Finance Minister, Ken Ofori-Atta (left) and the Vice President, Alhaji Bawumia (right)

The Bank of Ghana (BoG) has discharged the principal tranche of GH¢5.5 billion of the GH¢10 billion crisis facility the government is trying to support the national reaction to battle the coronavirus infection (Covid-19. This was unveiled by the Minister of Finance, Mr Ken Ofori-Atta on Thursday 28th May, 2020.

The tranche of money was consistent with global strategy responses of central banks with enormous scope resource purchase to offer help to deal with the pandemic.

This borrowing by the legislature is under sub-section (6) of section 30 of the Bank of Ghana Act, 2002 (Act 612) in the novel coronavirus (COVID-) crisis.

Meanwhile, the Ranking Member on the Finance Committee, Mr Cassiel Ato Forson, has blamed the legislature for looking for the funds from the national bank just to utilize the cash to fund the upcoming election expenditures of the ruling New Patriotic Party (NPP).

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