AfriPulse
On October 18, 2025, 9:27 AM
Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has renewed his call for stronger action to reduce the use of foreign currencies, especially the US dollar, in local transactions.
He described dollarisation as one of Ghana’s most persistent economic problems and warned that it continues to weaken the effectiveness of the country’s monetary policy.
Speaking at the IMF/World Bank Governor Talk Series in Washington, D.C., Dr. Asiama expressed concern about the long-standing trend of using foreign currency in domestic trade.
“Dollarisation is something I’ve seen throughout my 30 years in central banking. It’s a problem we are committed to tackling,” he said.
He stressed that one of his key priorities as Governor is to promote the Ghana cedi as the sole legal tender in all local transactions.
“What can we do to make the cedi the only currency used for trade in Ghana?” he asked.
As part of efforts to boost public confidence in the cedi, Dr. Asiama announced an upcoming event of Cedi at 60, which will be held on October 28 to mark the 60th anniversary of Ghana’s national currency.
He said the celebration will serve as both a symbolic milestone and a launchpad for renewed efforts to promote exclusive use of the cedi.
“When we use our local currency in all transactions, it improves the impact of our monetary policies. Solving this issue is something I want to be remembered for,” he stated.
The Cedi at 60 event will showcase the evolution of Ghana’s currency and is expected to encourage Ghanaians to fully embrace the cedi as the country’s sole medium of exchange.
Source: TheGhanaReport | Read the Full Story…
