The governor of the Bank of Ghana (BoG) Dr.Abdul-Nashiru Issahaku has expressed optimism in the stability of the cedi as the year starts.
According to him, the local currency showed some level of stability in 2016, reducing some level of domestic inflationary pressures.
“The Ghana Cedi has remained broadly stable during the year and we are optimistic that the cumulative depreciation for the year will remain in the single digits,” he said.
“This stability in the Ghana Cedi has reduced the pass-through to domestic inflation, although inflation is still above target. We therefore need to sustain the macroeconomic stability to anchor expectations and to build shock absorbers in the face of continued volatility in the global economic and financial environments,” he said.
Enumerating some measures taken by the central bank to enhance transparency, Dr. Issahaku stated that the communication department was equipped to inform the investor community and Ghanaians on developments at the bank.
“The establishment of our new Communications Department, has assumed such a strategic role in our communication functions. As a department within the Bank, the goal is to proactively support the mandate of the Bank in ensuring price stability and ultimately contributing to economic growth,” he said.
“The work of the department is to promote monetary policy communication as well as economic development communication. I want to urge you to continue to work with them in seeking feedbacks on the various aspects of our operations,” he added.
He stated that in an effort to further promote effective public accountability the bank has also introduced a 24-hour Contact Centre.
“This offers the general public the opportunity to have complaints, questions and requests for information dealt with promptly,” he said adding that “we have the technical team that provides the backstopping function at all times”.
He was of the view that the platform would introduce an interactive voice response system overtime that would also have built-in financial education section for the public.
Source: Citifmonline.com
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I wish to advise BOG to publish truly transacted foreign exchange rates of all major currencies for both inter-bank & Forex Bureau for previous business day. The exchange rates on your website and that of other public agencies are woefully incorrect even as indicative rates. I suggest ISSER and Other economic Think Thanks should take this up.
You are an ndc idi1oot your propaganda will not work. WHAT'S the sense in insulting northerners if you are truly npp. YOU guys should stop all this tribal nonsensee. . it won't help Ghana
WHAT HAS HE BEING A NORTHNER GO TO DO WITH HIS COMPETENCE.I HOPE BAWUMIA IS READING IS FOLLOWING
Master, all we want is data for us to know what's happening in the economy. How have you been running your website all these days? Just put the relevant info on the website and the data posse will have something to chew on. I remember some MPC meeting deliberately left out data on our debt stock. That was how bad and partisan you become. I also am aware that some data put out may be considered confidential in order to stop a run on our currency but not the debt stock level. I think the governor ought to go but he has the status of an appeal Court judge implying that it would be very difficult to remove him quickly. Let some water pass under the bridge.w shall watch this space.
Typical NDC propaganda planted in the media to create the impression that these uless Bank of Ghana officials are on top of their jobs ; COMPLETE FULLS PARADISE !!!!!; -WHAT LOAD OF CESSIPIT STUFF ; we want people who can do the job by taking control of the banking sector to create jobs for the people ; this Dr Issahku is just playing the 'Uncle Tom' 'Massa' and attempting to lick the boots of Nana Addo to keep his job ; the man should be BOOOOOOTED OUT ASAP !!!!!! by Nana Addo ; what is this ***barred word*** about a coomunication department ; this an utter painting on the cracks; they have helped Jon Mahama still the monies from Bank of Ghana ; it was a propaganda unit set up by JOn Mahama to lie to the people in case they won the elections besides why do you need a communication department for WHAT !!!!!!!!; what crab and utter flat--ule-nce about techno gizmos for Ghanaians; these fanzy techno are for commercial not the Contral Bank because the Central Bank has a lot to do ; this uless Governor should revert to core mandate of the Bank and provide proper supervision and take control of the execessive money laudering and fraud in the system ; they should return to thir core duties to use the macro-economic tools to prudently control the economy and stop this eye service because if you need information about the economy the commercial have a whole department for this ; NANA ADDO SHOULD GET RID OF THIS INCOMPETENT NORTHNER PRONTO !!!!!!!!!WE DO NOT NEED THESE ULESS BANK OFFICERS WHO CANNOT DELIVER AND BRING IN PEOPLE WHO KNOW ABOUT FINANCE AND THE ECONOMY NOT THESE 'BOOK LONG' PARROTS WHO FULL GHANAIANS BY ACCUMULATING TONS OF PAPER QUALIFICATION AND ARE NOT FIT FOR PURPOSE OR SQUIARE PEGS IN ROUND HOLES !!!!!!!