The Majority Leader in Ghana’s Parliament, Osei Kyei-Mensah Bonsu said that the situation in Sri Lanka got bad because the Central Bank could not support the economy.

Kyei-Mensah Bonsu said there is no part of the Constitution in Ghana that mandates the Bank of Ghana to report all its activities and transactions directly to Parliament.

He said the obligation of the Central Bank directly to Parliament was to present foreign exchange receipts to the House periodically, something the BoG had always complied to.

The Bank of Ghana posted significant losses of GH¢60.81 billion for the 2022 financial year as result of its decision to take a hit for the country by taking a 50 per cent haircut in the domestic debt exchange programme (DDEP).