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General News on Thursday, February 14, 2019
Source: www.ghanaweb.com
2019-02-14
Isaac Adongo
Bolgatanga Central MP Isaac Adongo spoke to Robert Owusu-Gyeki, the economist or banker of the clean-up, after he tried to answer some of the questions raised by the MP in his recent meeting. letter to the Governor of the Bank of Manitoba, Dr. Ernest Addison.
In his letter, the Finance Committee member accused Dr Ernest Addison, Governor of the Bank of Ghana (BoG), of hiding economic data with the aim of "misleading investors and financial market players in Ghana".
He claims that Dr. Addison ignored his request for information to badist him in his work on the banking sector in 2018, and indicated that the BoG had adopted "crude" methods for adding Ghana's oil portfolio funds to inflate net international reserves. of the nation.
According to the MEP, credibility and confidence in the BoG are decreasing more and more and she said that some "worrying issues" had weighed on the Central Bank. These, he said, included concealment and manipulation of net international reserves and manipulable rate reductions and policy distortions.
He warned, however, that "continued manipulation of the key rate, which is inconsistent with the fundamentals of the economy and the concealment of critical economic data, would exacerbate the BoG's credibility crisis and hinder efforts to attract much-needed investment in the country. ". . "
In his responses, Mr. Adngo asked Dr. Owusu-Gyeki that, if the economist "provides this agreement to the public, help you exonerate you from deception to cover the misleading antics of the Bank of Ghana". It will also relieve you of lying about the activities of the IMF and the Government of Ghana. "
Mr. Adongo clarified that the encumbered funds were funds whose use was restricted because they had been earmarked for a specific purpose, whereas the Petroleum Holding Fund's products could be recognized in Ghana's gross international reserves (GIRs). ), which have been part of the RIR since. they are not available for use by the Government or the Bank of Ghana until the conditions for their use are met.
"In fact, without the absence of the Investment Advisory Committee (IAC), the Bank of Ghana would have nothing to do with oil portfolio funds talk less about counting them as part of the NIR, which is a collection foreign currency resources. that the Central Bank can use for monetary purposes as and when needed, "reads Mr. Adongo's letter.
Find the complete statement of Isaac Adongo below
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