A forensic chartered accountant, Mr Awuni Akyereba, has chastised the Bank of Ghana over its decision not to provide FX support for some food items imported into the country.
As part of measures to stabilize the cedi against the dollar, the Central Bank has announced its decision to withdraw its FX support for some food items imported into the country.
Speaking with Kwesi Parker-Wilson on Oyerepa Breakfast Time, Mr Awuni described the BOG’s directive as “ridiculous”.
“If you study our economy well, the cause of the depreciation of the cedi, and you listen to the directive from the Bank of Ghana, you will see that the directive is ridiculous.” He said.
He explained that most business people do get their dollars from the banks.
“The BoG has said it, but that is not where most of the traders get their dollars for importations. They have other means on the market that are expensive. Things would not be purchased at a higher cost if BoG provided a dollar at a lower rate.”
According to him, this directive will not solve the problem but could even worsen it.
Source: oyerepafmonline.com
