• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Prof. Bokpin backs calls for BoG deficit financing

3 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
149
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Prof. Bokpin backs calls for BoG deficit financing

Economist and Finance Lecturer at the University of Ghana, Professor Godfred Bokpin, has supported calls for the Bank of Ghana to finance the government’s budget deficit.

Prof. Bokpin’s support for a budget deficit financing by the BoG, however, comes with a caveat that government will channel funds from the Central Bank into the productive sectors of the economy.

According to Prof. Bokpin, failure on the part of government to channel funds from the Central Bank into productive sectors of the economy will result in high inflation.

“I support calls for budget deficit financing by the BOG, but that is if it only goes to the productive sectors of the economy.

“But the problem is that, if you have a large government size that is largely inefficient, and for the Central Bank to print more money that will not go to the productive sectors of the economy, there will be a rise in inflationary pressures that will result in high inflation because excess injection of liquidity didn’t go into the productive sectors,” he remarked.

Prof. Bokpin made the assertion speaking to norvanreports at the stakeholder engagement on government‘s compliance to the Public Financial Management Laws, held by the Natural Resource Governance Institute (NRGI) and PFM Tax Africa.

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

Prof Ackah suggests GHS 100bn BoG-backed loans to Gov’t

Economist with the Institute of Statistical, Social and Economic Research (ISSER), Professor Charles Ackah, some weeks ago called for increased financing of government’s budget by the Bank of Ghana.

The call by Prof Ackah was on the back of some GHS 10.5bn financing of government’s budget during the Covid pandemic.

According to Prof. Ackah, budget financing by Central Banks is practiced in most countries, particularly developed countries.

Speaking in an interview, Prof Ackah expressed the view that government at the moment, lacks the fiscal space to increase spending to stimulate aggregate demand and ultimately economic growth.

According to him, government within the present economic circumstances needs to spend more and not be austere.

“All over the world, countries have realised that the orthodox policies instituted by the Bretton Wood Institutions to finance development are not working anymore and as such are calling on Central Banks to finance development.

 “Most developed countries are practicing quantitative easing to finance development and we should be doing the same.

“The government in this time needs to spend more to stimulate demand and spur economic growth to increase GDP and consequently reduce the country’s debt to GDP,” he remarked.

“At the moment government needs to create more fiscal space to spend and the Bank of Ghana must provide government with loans. If government can raise like GHS 100bn from the Central Bank to spend in critical areas of the economy without cutting expenditure, that will be very help for the economy,” he quipped.

Tags: Natural Resource Governance Institute (NRGI)PFM Tax AfricaProf. Bokpin backs calls for BoG deficit financing
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.