The current note regime places significant deadweight burden on the economy. This comes in several forms such as the high transaction costs at the cashiers, general inconvenience and high risks involved in carrying loads of currency for transaction purposes, increasing difficulties in maintaining bookkeeping and statistical records ....... click for full text...
Technical Guidelines on the Re-denomination of the Cedi
In accordance with Section 41 (4) of the Bank of Ghana Act 2002, (Act 612), the Bank of Ghana hereby announces for the information of Banks, rural banks, savings and loans companies, other financial institutions and the general public the following guidelines on the implications of the re-denomination of the cedi......... read more...
The Ghana Cedi witnessed some degree of oscillation when it rose last Monday, stabilized on Tuesday, rose again on Wednesday, fell on Thursday and closed trading on Friday with yet another gain.
The Bank of Ghana announces for the information of all banks, Non Bank Financial Institutions and the general public that as part of measures to improve the current credit delivery system in the country, the Collateral Registry established under the Borrowers and Lenders Act 2008 (Act 773) has been set up by the Bank of Ghana.
The Ghana Statistical Service has confirmed the economy may be much bigger than it is presently estimated. Gross Domestic Product (GDP), which measures the total value of goods and services produced, is presently estimated at about $22 billion.
The Bank of Ghana has confirmed a further stabilization of the economy this year and given the assurance that adequate space will be created for businesses to plan.
The Re-denomination of the Cedi
