It should not take IMF to direct government not to borrow from BoG – IEA Research Director

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The Director of Research at the (IEA), , has descended on the government for borrowing from the .

Bloomberg reported that the () is pushing the government to stop borrowing from its .

Prior to that, Minority Leader in , Cassiel , accused the of printing more than 55 billion to the government in 2022.

In a tweet, Dr Kwakye said it should not take to direct the government not to borrow from the Bank of Ghana.

“It should not take IMF to direct our government not to borrow from BoG”.

“BoG should refrain from breaching its own act by avoiding excess lending to the government, as that fuels inflation and exchange rate depreciation”, he added.  

The IMF wants government and the Bank of Ghana to sign a commitment to zero financing.

The accord, market watchers, is a condition Ghana is required to meet in order to secure final approval for a $3 billion IMF bailout.

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