Economy

BoG to stabilize Ghana cedi in 2016

The Bank of Ghana says it is putting in place measures that will ensure that the Ghana cedi does not come under serious pressure again come next year .  

It is believed that the current stability the Ghana cedis is enjoying will be tested, come January next year, when businesses start demanding more dollars to fund imports and to restock.

But speaking at a news conference today, the Governor, Dr. Kofi Wampah said he has what it takes to sustain the cedi's current stability throughout next year.

He explained the country is looking at export repatriation of foreign currency into the banking system.

"That is one of the important things we will be doing. Very soon you will be hearing some of the measures we will put in place to ensure that when you export you bring the funds back to Ghana."

Meanwhile the bank said the  cedi  has depreciated by some 15 percent from January  to September this year. 

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