Governor of the Bank of Ghana, Dr.
Johnson Asiama, has sounded the alarm on the persistent dollarisation of Ghana's economy, describing it as a threat to the long-term strength of the local currency.
Dr.
Asiama warned that the trend continues to undermine the Cedi, despite recent signs of stability while wpeaking at the Graphic Business/Stanbic Bank Breakfast Meeting held in Accra on Tuesday, July 15. "We are still grappling with a deep-rooted culture of dollarisation. "Too many businesses continue to price in dollars, in real estate, education, and luxury retail, despite transacting entirely within Ghana. "This practice not only violates legal tender laws but also undermines confidence in the Cedi," he stated.
