Skip to main content

AGI welcomes reversal of foreign exchange measures by Bank of Ghana

By: Fred Yaw Sarpong (Daily Express)

The Association of Ghana Industries (AGI) has welcome Bank of Ghana’s (BoG) reversal of the foreign exchange measures introduced in February this year.

According to AGI, it appreciates this bold decision which gives the indication that the Central Bank, has taken into account the recommendations made by stakeholders, Industry and the business community as a whole.

A statement signed by Mr. James Asare-Adjei, the President of the association said, “It is hopeful that this action will help boost business confidence and recovery of the cedi, while incentivizing forex transactions through the banks.”

AGI said the initiative should reassure the private sector and the general public that foreign exchange paid into our banks are welcome and will be secured.

The association urges the Central Bank to effectively supervise, monitor and support the financial institutions to ensure that the reversal of the foreign exchange measures is fully complied with.

“It is imperative for Government to also take steps to complement Bank of Ghana’s efforts towards achieving macro-economic stability,” said AGI.

The Association of Ghana Industries reiterates the urgent need to focus maximum attention on growing our exports, adopting import substitution strategies and promoting the patronage of Made-in-Ghana products to strengthen the cedi.


Popular posts from this blog

Deputy AG sues Facebooker over 'malicious' Ameri deal

The Deputy Attorney-General and Member of Parliament for Bolgatanga East, Mr Dominic Ayine has filed a defamation suit at an Accra High Court against a Facebook commentator, Evron Hughes.
In Mr Ayine’s statement of claim, sighted by Graphic Online, he accused Mr Hughes of defaming him in a post he authored and published on Facebook on December 21, 2015, titled “RE: AMERI TRANSACTION”.
According to the Deputy A-G, the “false and malicious” post has provoked “public disaffection” against him and exposed him to public ridicule and contempt.
Describing Mr Hughes as a “self-styled social media blogger and a social commentator”, Mr Ayine said the Facebook post had brought his hard-won reputation “as a respected politician, teacher and lawyer” into “hatred, ridicule, odium, discredit, contempt, opprobrium and reproach”.
The Deputy A-G said the “defamatory words” were authored with the sole intent to reduce him in the estimation of all right thinking Ghanaians, adding that he had received numerou…

Ghana’s Mining Stability Agreement: The Blame Game is on