The Information Minister, Kojo Oppong Nkrumah, has disclosed that the Governor of the Bank of Ghana, Dr. Ernest Addison, is scheduled to hold a meeting today with stakeholders to find ways of tackling the rapid depreciation of the cedi.
The meeting will include the government through the Economic Management Team, forex bureaus, and leaders of the country’s commercial banks, with the Bank of Ghana supervising.
“The Bank of Ghana will be meeting the Managing Director of some of the Banks and the heads of the forex bureau association to hold discussions aimed at ensuring that the supply of forex on the market is stabilized and the overpricing is halted so that, those who need forex for business get it without hindrances at the banking halls as against rates on the black market or some other quarters,” the Minister told the media over the weekend
“We will also be looking at long-lasting measures to ensure that the forex rate is stabilized in the country, even as we expect a lot more inflow of forex following the completion of the syndication of the COCOBOD transaction loan.” The Economic Management Team is also meeting to appraise itself on some of the recommendations as we get closer to the end of the year. On Thursday, “Cabinet itself will be meeting to receive what has gone through the EMT and updates from the IMF negotiations so that some decisions will be made and then update the country on the next step forward,” he added.