Business News of Monday, 15 June 2020Source: www.ghanaweb.comSeparate 2020 budget from coronavirus economic gaps – Terkper to govtSeth Terkper is a former Finance MinsterFinance Minister, Seth Terkper, is urging Parliament to re-examine the revised 2020 Budget and COVID-19 fiscal gaps that it approved to mitigate the effects of the pandemic. “It is not transparent to use COVID-19 to resurrect the proposed BOG deficit-financing which existed since the 1970s but was abolished. The IMF and other multilateral/bilateral loans and drawdown from the Stabilisation Fund now cover COVID costs,” Seth Terkper states. His final article, published below, uses the IMF’s Article IV (December 2019) and Rapid Credit Facility (RCF)/COVID (April 2020) Reports to show the original 2020 Budget gap (above fiscal deficit) and the gap relating to COVID19. His second point is that the government has met the projected COVID-19 costs, therefore, it is not credible to use the virus as the entire excuse for BOG’s deficit-financing.

Source: GhanaWeb June 15, 2020 10:41 UTC