|
Stop hoarding new Ghana coins – BoG
Accra, Jan 28, GNA – Dr Paul Acquah,
Governor of Bank of Ghana on Monday said the seemingly
shortage of coins in the system for daily transaction was
due to hoarding by the public.
Speaking at the first Monetary Policy Meeting (MPC) for the
year, he said: “The transition to a full adoption of the use
of coins has not been smooth as expected.”
The Governor said reports reaching the BoG indicated that
some members of the public were hoarding the coins either in
safes such as “pots” at homes and preferred carrying the
notes for day to day transactions.
Dr Acquah said before the end of 2007, the bank injected
sufficient quantities of the coins into the system but
expressed concern that its usage by the pubic was still at a
slow pace.
He said the Bank was running programmes such as commercials
to intensify education on the use of the coins and expressed
the hope that very soon the rate of adjustment would
improve.
Dr Acquah said at present, the old notes and coins had been
virtually withdrawn from circulation and that the market was
responding to the change.
There has been a public outcry in recent times that coins in
circulation were not enough and that commercial drivers and
retailers were rounding up rates and prices to their
advantage.
Media reports have indicated that commercial drivers at most
lorry stations were charging 25Gp instead of 22Gp due to
shortage of 1Gp coins in the system.
GNA
|
