Chartered economist Dr. Worlanyo Mensah has warned that the widespread rejection of Ghana’s smaller legal coins, particularly the 10 and 20 pesewa coins, is creating artificial inflation in the economy.
Speaking on Atinka TV’s Ghana Nie show hosted by Nana Yaw Fianko, Dr. Mensah attributed the problem to both the general attitude of Ghanaians and inadequate sensitization by policymakers, including the Finance Ministry and the Bank of Ghana.
He explained that in countries like the United States, small denominations continue to circulate, helping to stabilize prices and control inflation.
“Once we reject the 10 and 20 pesewa coins, we create artificial inflation because prices of goods and services are forced to rise,” he said, noting that items like sachet water could cost 30 pesewas but are being sold for 50 pesewas due to the coin shortage.
Dr. Mensah called for a strong public education campaign, urging the Ministry of Finance, the National Commission for Civic Education (NCCE), and other agencies to collaborate in sensitizing Ghanaians on the importance of using all legal denominations to avoid further economic strain.
Ghana|Atinkaonline.com|Ebenezer Madugu