A levy on Bank of Ghana recapitalization has been reportedly planned by the government, however John Kumah, a deputy minister of finance, has denied this.
He asserted that such a strategy is not imminent and urged Ghanaians to treat the reports with contempt.
The Minister said in a social media post that the stories were nothing more than NDC (the opposing party) misinformation.
“Ignore this amusing NDC propaganda concerning the Bank of Ghana’s (BoG) demise. BoG is Strong! The NDC is hilarious! The Central Bank has not collapsed, so it is untrue that a recapitalization levy will be implemented for BoG, the man added.
The bank’s investments in marketable securities, fees and charges on all government payments, as well as income from non-marketable holdings of the bank, are its primary sources of income.
Such propaganda and pointless attacks on the central bank, Kumah continued, simply raise market volatility, cause panic selling of assets, and have the potential to start off a series of events that could jeopardize our nation’s overall economic stability.
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