Bank of Ghana reviews forex rules

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mike 9 years ago

ghana is poor country so don't make all these silly rules it won't work don't compare yrself to uk isa or germany and the rest we are poor so we just have to learn how to do things

ghana is poor country so don't make all these silly rules it won't work don't compare yrself to uk isa or germany and the rest we are poor so we just have to learn how to do things
ADJOA WANGARA 9 years ago

THE WHOLE NONSENSE KOFI WAMPAH IS TRYING TO READ THERE IS NO NEWS AND BESIDES MAKES NO SENSE.

WHY AM I SAYING THAT? THE BANKS WILL STILL NOT SELL FOREIGN MONEY TO ORDINARY GHANAIAN BUSINESS PEOPLE. BLACK MARKET WILL THERE ...
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THE WHOLE NONSENSE KOFI WAMPAH IS TRYING TO READ THERE IS NO NEWS AND BESIDES MAKES NO SENSE.

WHY AM I SAYING THAT? THE BANKS WILL STILL NOT SELL FOREIGN MONEY TO ORDINARY GHANAIAN BUSINESS PEOPLE. BLACK MARKET WILL THEREFORE CONTINUE TO OPERATE TO THE DETRIMENT OF THE ECONOMY AND BESIDES THOSE AT THE TOP WILL CONTINUE TO STEAL MONEY BY PAYING BAD JUDGEMENT DPBTS.

THEY WILL PLANT DEAD TREES AND MAKE GUINEA FOWL PUOLTRY FARMS THAT WILL NEVER EXIST AGAIN ONLY TO STEAL AND SHARE.
Senior Wisdom 9 years ago

Putting a limit on withdrawals was a really bad move which every body knew would be counter productive. If people are remitting home they should be encouraged as it is a vey importance source of foreign exchange to most devel ...
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Putting a limit on withdrawals was a really bad move which every body knew would be counter productive. If people are remitting home they should be encouraged as it is a vey importance source of foreign exchange to most developing country. The only impact was to push people either to stop sending money home from abroad and those who did rather patronized the black market. I think it was a really bad move and made zero impact on helping the cedi improve it's image
The Mask 9 years ago

Rape cases are on the increase in Ghana. Judges and WAJU of the Ghana police force must do more to protect our society. Some people have become so notorious of raping and getting away with it. Many believe that it is a weapon ...
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Rape cases are on the increase in Ghana. Judges and WAJU of the Ghana police force must do more to protect our society. Some people have become so notorious of raping and getting away with it. Many believe that it is a weapon capable of scarring individuals to the very soul and seize the least opportunity to use it; using it on the families of their political or business competitors. Not even those at the higher echelons of our society must get away with it. It is said that a man paid a student to rape the daughter of his business and political competitor.

The number of court houses and judges in Ghana are inadequate especially in the Eastern Region of Ghana. The population has ballooned and changes have to be made. The same can be said of the number of police officers and the number of penitentiaries. On a visit to a number of court houses around the country I found the Ghana flag and the Ghana Coat of Arms (Seal) absent. This must change.
oj Oklahoma City 9 years ago

Imf/world bank conditions

Imf/world bank conditions
pataku 9 years ago

it is very good strategy to stabilize the currency very good thinking.

it is very good strategy to stabilize the currency very good thinking.
GURUNDA 9 years ago

EVERYBODY KNOWS KESSBEN IS A HARD WORKING MAN AND LEGITIMATELY EARNED HIS MONEY. DONT PUNISH HIM BCOS HE IS AN ASHANTI. NON AKANS WONT BE IN POWER FOR EVER.

EVERYBODY KNOWS KESSBEN IS A HARD WORKING MAN AND LEGITIMATELY EARNED HIS MONEY. DONT PUNISH HIM BCOS HE IS AN ASHANTI. NON AKANS WONT BE IN POWER FOR EVER.
John 9 years ago

You NDC steal money. If u we're working like him crisis would not have occurred.foolish people .thanks

You NDC steal money. If u we're working like him crisis would not have occurred.foolish people .thanks
Ringo 9 years ago

Doing trial and error with the economy

Doing trial and error with the economy
Meh 9 years ago

They are already backing out of the NDC home grown policies which they claim they will present to IMF. NDC is confused, incompetent and clueless.

They are already backing out of the NDC home grown policies which they claim they will present to IMF. NDC is confused, incompetent and clueless.
edem 9 years ago

if you are not airheads then you are something more bizarre!! wampah and his bunch of idiots - ndc!! these rules were there before you introduced your stupid rules and the situation has worsened and you are going back to your ...
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if you are not airheads then you are something more bizarre!! wampah and his bunch of idiots - ndc!! these rules were there before you introduced your stupid rules and the situation has worsened and you are going back to your vomit!!! wise Bawumia told you and gave you useful advice BUT that slobbering poach ofosu kwakye insulted him.Now you see the wisdom in Bawumia's advice? you go to hell and remain there for your miserable life wampah. you are an animal and a really really stupid buffoon! the situation is out of hands and you want to do what? the horses left long before you went to bolt the stable gate. ABOA! you and that fool called mahama!
Nana Ayisi 9 years ago

So if Wampah and his team fails to read into other countries failure by implementing similar directives, why the president don't fire him. what the heal is he still doing at BOG.....OH MY GHANA. is like the whole country is w ...
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So if Wampah and his team fails to read into other countries failure by implementing similar directives, why the president don't fire him. what the heal is he still doing at BOG.....OH MY GHANA. is like the whole country is wondering like headless chicken. It doesnt work like that "WAMPAH" take it from me. go back to your books.....
WARD GDX - WE THE PEOPLE 9 years ago

Those knee jerk senseless reactive rules worsened the free fall of the cedi.

Those knee jerk senseless reactive rules worsened the free fall of the cedi.
NAN 9 years ago

I TOLD U SO IT DID NOT WORK,AND WHAT U JUST DID IS NOT ECONOMY BUILDING.

I TOLD U SO IT DID NOT WORK,AND WHAT U JUST DID IS NOT ECONOMY BUILDING.
Akadu Mensema 9 years ago

So who will save their dollars with the banks? Idiotic policies!

So who will save their dollars with the banks? Idiotic policies!
Wofa Koo 9 years ago

Smart move, dollars are not physically allowed to be used on Ghana market. The use should be immediately banned and enforced. All dollar transactions should be done through banks. Ghana is not yet the 51st State of USA.

Smart move, dollars are not physically allowed to be used on Ghana market. The use should be immediately banned and enforced. All dollar transactions should be done through banks. Ghana is not yet the 51st State of USA.
NEZER 9 years ago

Good to know that these restrictions have been removed.The cardinal principle in handling any economy is that you don't mess with capital. It has wings and it will flee in a moment without notice if it feels threatened in any ...
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Good to know that these restrictions have been removed.The cardinal principle in handling any economy is that you don't mess with capital. It has wings and it will flee in a moment without notice if it feels threatened in any way. The Central Bank did an irreparable damage to the confidence of investors by restricting the amount of their own money they could take out from the bank. Only the most foolish-headed person will think of depositing his/her dollars with the Banks in Ghana, knowing that the money could be restricted or even confiscated without notice. Ours is an economy heavily dependent on outside resources and foreign-generated currencies. You don't scare off these resources by enacting draconian measures overnight.
MENSAH. 9 years ago

Your contribution makes a whole lots of sense.

I support that more than:
1,000000000000000000000000000000000000%

Your contribution makes a whole lots of sense.

I support that more than:
1,000000000000000000000000000000000000%
MOISHA 9 years ago

YOU WONDER WHERE THEY WERE SCHOOLED ALL THEY KNOW IS TO STEAL AND MESS UP THE ECONDMY

YOU WONDER WHERE THEY WERE SCHOOLED ALL THEY KNOW IS TO STEAL AND MESS UP THE ECONDMY
Odasanibi 9 years ago

I agree that the Cedi should be the currency to do business with in the country. It will help drive down the demand for dollars over time.

I agree that the Cedi should be the currency to do business with in the country. It will help drive down the demand for dollars over time.
Kwaku Gloenawo 9 years ago

This si a good opportunity for Mahama to sack him so the state does not incur any costs when you want to remove him out of contract. He has messed up the currency so much there is no hope of recovery. No amount of dollar inje ...
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This si a good opportunity for Mahama to sack him so the state does not incur any costs when you want to remove him out of contract. He has messed up the currency so much there is no hope of recovery. No amount of dollar injection will remedy the mess and somebody must be responsible (at least it will appease some who lost money).
OTCHERE DARKO 9 years ago

Let demand and supply freely control foreign currency market in Ghana, BoG.

Let demand and supply freely control foreign currency market in Ghana, BoG.
Peter Donkor 9 years ago

BOG should consider limiting the number of currency dealers in the country to few credible licensed dealers. Many of the present forex outlets flaut the currency regulations without any consequence. They hadly render correct ...
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BOG should consider limiting the number of currency dealers in the country to few credible licensed dealers. Many of the present forex outlets flaut the currency regulations without any consequence. They hadly render correct account to the BOG. Many of them dont issue receipts for transactions and operate just like the black market dealers. Sit up and come out with effective regulations to curb the abuse in the free for all currency market.
fred 9 years ago

Listen to dr bawumia's advice and do what he says not what fosu Kwaakye says. Where the substantive ministers? Why is this country being run by junior ministers?

Listen to dr bawumia's advice and do what he says not what fosu Kwaakye says. Where the substantive ministers? Why is this country being run by junior ministers?
The Governor Must Resign 9 years ago

This man is confused and is totally out of ideas. His experiments and ignorance have cost both banks and customers millions in losses.

If he had any decency and self respect he would resign, but then this wont happen in Gh ...
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This man is confused and is totally out of ideas. His experiments and ignorance have cost both banks and customers millions in losses.

If he had any decency and self respect he would resign, but then this wont happen in Ghana.
Chris 9 years ago

Mahama is either confused or very very ignorant indeed. When will he realise that these Wampah and types are useless human beings holding positions. Does Mahama know the irreversible damage these foolish people have caused th ...
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Mahama is either confused or very very ignorant indeed. When will he realise that these Wampah and types are useless human beings holding positions. Does Mahama know the irreversible damage these foolish people have caused the economy? I really lost confidence and interest in this stupid Mahama government. How can a human being be so naive and stupid people believe he is a president. A secondary school leaver can do better than Mahama, Tekper, Thompson and the other coat wearing Mahama economic team.
ADAMU 9 years ago

THESE FOOLISH WICKED GHANAIAN FUCKING LEADERS DO NOT PAY DUTY ON THEIR IMPORTS.

THEY GET FREE FUEL ALLOCATIONS. THEY HAVE FREE HOUSING AND UTILITIES AND MANY OTHER FREEBIES WHICH ARE PASSED ON TO THE ORDINARY GHANAIAN TAX ...
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THESE FOOLISH WICKED GHANAIAN FUCKING LEADERS DO NOT PAY DUTY ON THEIR IMPORTS.

THEY GET FREE FUEL ALLOCATIONS. THEY HAVE FREE HOUSING AND UTILITIES AND MANY OTHER FREEBIES WHICH ARE PASSED ON TO THE ORDINARY GHANAIAN TAXPAYER.

SO ANYBODY LIKE RAWLINGS SAYING HE IS FEELING THE ECONOMIC CRUNCH REALLY
DOES NOT KNOW WHAT HE'S TALKING
ABOUT.

GHANAIANS SERIOUSLY HAVE TO GET RID OF THESE DIRTY CORRUPT LEADERS AND THEIR MANY HENCHMEN FROM OUR MIDST.
Kwapps 9 years ago

This tells us the sort of people running this country, is it any wonder we find ourselves in this mess. But the canker doesn't stop there, such mismanagement can be found in every ministry. What a laughing stock we have becom ...
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This tells us the sort of people running this country, is it any wonder we find ourselves in this mess. But the canker doesn't stop there, such mismanagement can be found in every ministry. What a laughing stock we have become!
Phille 9 years ago

This is where the economy comes tumbling! The currency has taken an overly absurd nosedive. Ghanaians must sit up and wise-up!

This is where the economy comes tumbling! The currency has taken an overly absurd nosedive. Ghanaians must sit up and wise-up!
ADAMU 9 years ago

CUSTOM DUTIES HOME DELIVERY VALUES ARE CHARGED IN EURO, US DOLLARS AND BRITISH POUNDS STERLING, PLUS MANY OTHER TAXES/VAT BEFORE THEY'RE CONVERTED TO CEDIS.

WAMPAH CLEARLY DOES NOT PAY ALL OF THESE SO HE'S COMPLETELY OBLIV ...
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CUSTOM DUTIES HOME DELIVERY VALUES ARE CHARGED IN EURO, US DOLLARS AND BRITISH POUNDS STERLING, PLUS MANY OTHER TAXES/VAT BEFORE THEY'RE CONVERTED TO CEDIS.

WAMPAH CLEARLY DOES NOT PAY ALL OF THESE SO HE'S COMPLETELY OBLIVIOUS TO WHAT OTHER GHANAIANS GO THROUGH WITH THESE "KILLER" IMPORT DUTIES PAYMENTS AT GHANA'S PORTS.

WAMPAH IS EITHER OBLIVIOUS TO THESE EXPLOITATIVE TAXES, OR HE DOES NOT CARE BECAUSE HE IS INSULATED/EXEMPT FROM SUCH DAYLIGHT ROBBERY OF GHANAIANS BY THEIR LEADERSHIP.

THIS IMMORALITY HAS BEEN GOING ON AT GHANA'S PORTS FOR YEARS, GHANA'S FUCKING LEADERS DO NOT FUCKING CARE BECAUSE IT DOES NOT AFFECT THEM.

THESE HIGH "KILLER" DUTIES AT GHANA'S PORTS ARE PASSED ON TO ORDINARY GHANAIANS BY IMPORTERS AND TRADERS, AND THE NATION IS PAYING BACK DEARLY TO TOGO'S FREE PORTS.
joseph 9 years ago

so we have been vindicated. We told incompetent ndc governor this would not work but thry didn't listen.

so we have been vindicated. We told incompetent ndc governor this would not work but thry didn't listen.
isaac 9 years ago

my suggestion towards saving the strength of the cedis is this. alot of foreingn exchange transaction goes on between the embassies in the country. with immediate effect for instance if the British High commission is charging ...
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my suggestion towards saving the strength of the cedis is this. alot of foreingn exchange transaction goes on between the embassies in the country. with immediate effect for instance if the British High commission is charging say 1500 ghana cedis for entry visa, let us as a country charge the same in uk. let us also take the money in local currency there.i hope this will reduce the balance of trade and the high depreciation of our local currency.0207714255
VERDICT 9 years ago

The Mahama NDC gov't has been a joke, continues to be a joke and would be a joke. Just waiting to vote the Mahama NDC gov't out.

The Mahama NDC gov't has been a joke, continues to be a joke and would be a joke. Just waiting to vote the Mahama NDC gov't out.
Teacher Noah 9 years ago

I find it difficult to believe why officials in Ghana preach one thing and do the other. My struggling brother shipped a vehicle to me from Europe. The clearing agent gave me the duty to be paid when i presented him with my b ...
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I find it difficult to believe why officials in Ghana preach one thing and do the other. My struggling brother shipped a vehicle to me from Europe. The clearing agent gave me the duty to be paid when i presented him with my bill of lading. Upon the arrival of the vehicle last week, the same clearing agent gave me a different amount to be paid as duty. When challenged, the clearing agent asked me to question the Ghana customs who charge everything in dollars and convert it into cedis. This country has lost it's economic sovereignty and as such officials must openly declare the dollar as the state's medium of exchange.
Campaign Against Corruption 9 years ago

If the threshold for transfer abroad is USD50,000 without initial documentation, why was the government allowed to uplift USD3million to Brazil overnight? Are there separate laws for the people and another set of laws for th ...
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If the threshold for transfer abroad is USD50,000 without initial documentation, why was the government allowed to uplift USD3million to Brazil overnight? Are there separate laws for the people and another set of laws for the government and its officials?
jubidu 9 years ago

so why do you work your charges for imported goods in the country in dollars,before converting to cedis?

so why do you work your charges for imported goods in the country in dollars,before converting to cedis?
jubidu 9 years ago

stop charging the duties at the ports in dollars

stop charging the duties at the ports in dollars
koby 9 years ago

TOO LITTLE TOO LATE

TOO LITTLE TOO LATE
Lord Tennison 9 years ago

Any percentage depreciation of the GHC translates into some value lost in GHC-denominated investments. Uniliver has already expressed concern about this.
Should the holders of these investments fold their hands and not do no ...
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Any percentage depreciation of the GHC translates into some value lost in GHC-denominated investments. Uniliver has already expressed concern about this.
Should the holders of these investments fold their hands and not do nothing?
Is it not prudent to allow currency swaps to protect the value of one's investment without being involved in the import/export business?
Cannot Ghanaians diversify their currency portfolios to reduce risk?
As i commented at the onset of those scraped BOGUS policies,the problem is not about DOLLARIZATION of our economy or the operations of foreign accounts.
The GHC is depreciating because of:
(a)Scarcity of USD(reduced export earnings)
(b)The huge import bill
(c)Inflation(government over-expenditure and subsidies withdrawal)
(d)Growth of the US economy and a strengthening USD.
Conditioning the ownership of foreign accounts on import/export and foreign high commissions/embassies transactions will nurture Cow Lane and lead to revenue loss.
If i were you,i would liberalize the foreign exchange market and concentrate on supervision.
It should be easy for anybody to go to the Forex market at any time to swap GHC for any foreign currency.

Bank of Ghana reviews forex rules

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