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
-
8 cringe-worthy signs you’re the other woman or one of many
1 min -
Ho Technical University management denies knowledge of name-changing attempts
4 mins -
Global Cocoa Marketing Companies refuse to pay realistic Cocoa prices – CGCI
9 mins -
African Court delegation visits ECOWAS Court, strengthen cooperation
11 mins -
DVLA Management, Board embark on familiarisation tour of Volta, Oti
13 mins -
Is King Promise truly married or it’s just to promote a new song?
17 mins -
Today’s front pages: Wednesday, April 24, 2024
30 mins -
Shop attendant, 22, convicted for stealing over GH¢39k
38 mins -
African Games medalists cries over unpaid bonuses
42 mins -
The Plastic menace: Our environment, our survival
43 mins -
NDC petitions Speaker on missing BVDs at EC
47 mins -
Current dumsor not as bad as Mahama-era – Prof Stephen Adei
2 hours -
NDC officially out-doors Naana Jane as running mate today
3 hours -
SOEs should not compromise on ethical standards, accountability – Akufo-Addo
3 hours -
Man tells grieving wife she doesn’t need a mother’s day gift because she’s ‘no longer a mom’
4 hours