The Bank of Ghana (BoG) has debunked claims that it connived with government to conceal the true extent of government’s overdraft until the International Monetary Fund (IMF) exposed them.
The central bank noted that even though it had earlier given extensive explanation to why it had to fund specific government project over and above what was budgeted for, there are still claims in the media that it concealed that information until IMF came into the picture.
In a statement that reiterated the earlier explanation in a November 11, 2022 press release and also at the January 30, 2023 Monetary Policy Committee press conference, the BoG said “the indication in the media that the IMF came and uncovered the extent of the
overdraft is wholly inaccurate.”
Find the full press statement below:
