At a sitting to look into foreign exchange receipts and payments of ending December 2012, the Governor of the BoG, Dr. Kofi Wampah and his two deputies, wrote to the Chairman of the Committee, Kwaku Agyeman Manu, to excuse them (the bank’s officials) from appearing because they were all attending “a very important meeting.Finance Minister, Seth Terkper and his deputies, who have direct oversight responsibility over the operations of the bank, were also said to be in “a serious meeting” at the Flagstaff House and could therefore not turn up for the sitting.Members of the Committee raised serious concerns about the reduction in the reserves from even though there were records of a rise in percentage of net receipts of 9.7 percent over the same period, “which means the total reserves should have seen a substantial increase.The Head of Treasury at the Bank of Ghana, Yaw Abalo, who represented the Governor, tried to dance around the question. When he was pinned further to the wall to furnish the committee with details of specific expenses from that amount, he said that the amount was used to pay government debts and also for the transaction of interbank markets..
Posted on: Wed, 09 Jul 2014 16:04:12 +0000
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