By Godwill Arthur-Mensah / Elsie Appiah-Osei, GNA
Accra, July 15, GNA—The New Patriotic Party Minority Caucus in Parliament on Wednesday, walked out of a scheduled briefing with the Governor of the Bank of Ghana (BoG), citing a decision by leadership to bar media coverage and demanding clarity on a $2.2 billion drop in Ghana’s gross international reserves.
Addressing the press at the Parliament House, Mr Kojo Oppong Nkrumah, the Ranking Member on the Economic and Development Committee of Parliament, said, “The caucus submitted three questions to the Governor on the use of the country’s foreign exchange reserves to support the cedi.”
He said the questions were the source of forex, and where the foreign exchange being used for market intervention was coming from.
He said the other question was: “The Framework currently being used for forex market intervention and the amount injected. How much has been injected into the market?
Mr Oppong Nkrumah, also the New Patriotic Party (NPP) Member of Parliament (MP) for Ofoase/Ayirebi, cited data from the National Petroleum Corporation report for May 2026, which allegedly stated that as at the end of Quarter One 2026, gross international reserves stood at $14.2 billion.
“The minority’s own checks show the figure had dropped to $12 billion as at the end of June 2026. We want the Governor, or we are asking you to confirm whether you used the $2 billion for market interventions. That’s a simple question,” the MP said.
He stressed that “That’s why we wanted you to be in the chamber to enable you to report accurately.”
The MP further referenced the Governor’s written response on the Order Paper, which stated that “Since August 2024 they have not undertaken direct market interventions, as their forex operations do not draw on the central bank reserves. Instead, the majority of the forex intermediation has been executed on the domestic gold purchase programme.”
“Why is it that the Majority is preventing the Governor from saying this to the entire country? Is it because the Governor is here to admit on record that it is because of the Domestic Gold Purchase Programme, that they can mobilise these forex resources?” the MP asked.
Mr Oppong Nkrumah noted that the media had covered similar Committees of the Whole sessions in the past, including appearances by the Electoral Commission and the Governor in 2025.
“Today, as we advertise the practice of an open Parliament, why do you want to close questions that have been advertised and answers advertised to the public? What is it that they are afraid of that now they don’t want you to cover?”
He stated that because of the decision not to allow the media to cover, the Minority had also suspended its participation, adding that leadership would continue to engage to have the session open to the media.
“This is the House of accountability. This is the people’s house. This is where the people are here for the answers to all these questions,” he stated.
Meanwhile, Mr Mahama Ayariga, the Majority Leader, explained that the decision was not intended to prevent the media from accessing information from the engagement.
He said it was standard parliamentary practice for heads of state institutions to appear before the Committee of the Whole, to answer questions without media coverage.
The Committee of the Whole is a parliamentary procedure where the entire body of all MPs meets as a single Committee to deliberate or receive briefings on matters of urgent national importance.
While formal parliamentary Sittings are typically open to the public and the media, the Committee of the Whole meeting is often held in camera (behind closed doors) when matters of state security, sensitive economy, or confidential reports are being discussed.
GNA
Edited by Christabel Addo
Reporters: Godwill Arthur-Mensah
Email: godwill.arthur-mensah.org.gh
Elsie Appiah-Osei [email protected]