The
Minority in Parliament is demanding the immediate withdrawal of the new
denominations of the Ghana Cedi introduced by the Bank of Ghana (BoG).
A
member of the Finance Committee, Benjamin Komla Kpodo, in
questioning the timing for the issuance of new notes, insisting
BoG withdraws it for further consultations.
“We
do not have any law, asking them to come specifically to the house to
seek permission to do so but they should have mentioned this to us [and]
let’s talk about it,” he stated.
The Bank of Ghana on Friday, November 29, 2019, announced the introduction of the GH₵100 and GH₵200 notes which are expected to be in circulation next week
At
a news conference in Accra today the Bank of Ghana Governor Dr Ernest
Addison said the new notes will address “the significant increase in the
demand for higher denomination banknote and increased cost of
printing.”
Speaking
to JoyNews Kwesi Parker-Wilson, Mr. Kpodo was of the view that the
introduction of the new denominations will only increase the rate of
inflation in the country’s economy.
He added that “even if we are to introduce it, it shouldn’t be beyond GH₵100.”
