Audio By Carbonatix
The Bank of Ghana (BoG) says its planned injection of dollars into the market is part a broader strategy to help stabilize the cedi.
The Central bank has come under serious criticism over its decision to sell some $120 million for the first quarter of this year.
Economists like Ishmael Yamson believes this strategy of releasing more dollars onto the market to halt the cedis stability is not sustainable and should be stopped.
But the Central Bank Dr. Abdul Nashiru disagrees. He believes this together with other measures, can help stabilize the cedi.
In a separate development, the Central Bank has disclosed it will no longer extend waivers to commercial banks to grant loans beyond a certain fraction of stated capital.
The move has been influenced by rising loan defaults, which could cripple some banks if this policy is not reviewed.
The Governor has also been speaking about plans to allow every Universal Banks to introduce, Islamic Banking products.
Latest Stories
-
How a new who declaration could change traditional medicine
1 hour -
Evidence shows Ghana needs an independent prosecutorial system – Prof H. Kwasi Prempeh
1 hour -
Selective justice is destroying trust in Ghana’s anti-corruption system – Prof H. Kwasi Prempeh
2 hours -
Politician Attorney General model is broken and no longer credible – Constitution Review Chair
2 hours -
Indonesians raise white flags as anger grows over slow flood aid
3 hours -
Why passport stamps may be a thing of the past
3 hours -
Pope Leo urges ‘courage’ to end Ukraine war in first Christmas address
3 hours -
Commentary on Noah Adamtey v Attorney General: A constitutional challenge to Office of Special Prosecutor
3 hours -
Ghana’s democratic debate is too insular and afraid of change – Constitution Review Chair
3 hours -
24/7 campaigning is a choice, not democracy – Constitution Review Chair
4 hours -
4 years is too short as Ghana lags behind global democratic standards – Constitution Review Chair
4 hours -
GOLDBOD CEO explains ‘Clear Typo’ in Foreign Reserves claim
6 hours -
Trump says US military struck ISIS terrorists in Nigeria
6 hours -
Asake ‘devastated’ after fan dies during Kenya concert
8 hours -
Players can only leave if replacements come in – Amorim
8 hours