Economist Dr. Adu Owusu Sarkodie has urged the Financial institution of Ghana (BoG) to undertake a much less punitive method to its de-dollarisation technique. He has appealed for enhanced public and enterprise sensitisation.
Talking on PM Specific Enterprise Version, Dr. Sarkodie cautioned that aggressive enforcement could alienate companies and most people, doubtlessly undermining the very coverage the central financial institution is striving to ascertain.
As a substitute, he referred to as for a extra persuasive and academic technique that helps stakeholders respect the advantages of lowering the financial system’s over-reliance on overseas foreign money.
“We have to shift the narrative from punitive enforcement to knowledgeable engagement,” Dr. Sarkodie remarked. “By deepening sensitisation efforts, companies will higher perceive the rationale behind de-dollarisation and usually tend to assist it”, he mentioned.
He emphasised the significance of public assist within the financial transition, urging Ghanaians to again the Financial institution of Ghana’s directives.
This, Dr. Sarkodie believes, is not going to solely foster a extra resilient home foreign money but additionally engender higher belief inside the financial system.
His feedback come amid intensified efforts by the Financial institution of Ghana to clamp down on dollarisation.
In mid-July, Governor of the Financial institution of Ghana, Dr. Johnson Pandit Asiama introduced a stepped-up enforcement of legal-tender legal guidelines concentrating on sectors the place pricing in foreign currency have develop into normalized and inspired companies to bill in cedis, reinvest regionally, and deepen the financial ecosystem’s energy.
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