{"id":1252610,"date":"2022-11-17T12:18:37","date_gmt":"2022-11-17T12:18:37","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/11\/17\/bog-directs-banks-to-withdraw-foreign-exchange-support-for-importation-of-rice-vegetable-oils-others\/"},"modified":"2022-11-17T12:18:37","modified_gmt":"2022-11-17T12:18:37","slug":"bog-directs-banks-to-withdraw-foreign-exchange-support-for-importation-of-rice-vegetable-oils-others","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/11\/17\/bog-directs-banks-to-withdraw-foreign-exchange-support-for-importation-of-rice-vegetable-oils-others\/","title":{"rendered":"BoG directs banks to withdraw foreign exchange support for importation of rice, vegetable oils, others"},"content":{"rendered":"

<\/p>\n

Dr. Ernest Addison<\/p>\n

\n

The Bank of Ghana has directed banks to withdraw foreign exchange support to customers for the importation of certain non-critical or essential goods.<\/p>\n

Joy Business however understands that the withdrawal of the FX support for the importation of these non-essential goods took effect in the past three weeks.<\/p>\n

The goods affected include rice, poultry, vegetable oils, toothpicks, pasta, fruit juice, bottled water and ceramic tiles.<\/p>\n

An electronic message from the Bank of Ghana to the banks cited by Joy Business read \u201cin accordance with the President [Akufo-Addo] directive issued at his recent address to the nation on the Ghanaian economy, on Sunday 30th<\/sup> October, 2022, the Bank of Ghana will no longer provide FX support for the imports of rice, poultry, vegetable oils, toothpicks, pasta, fruit juice, bottled water, ceramic tiles and other non-critical goods\u201d.<\/p>\n

\u201cPlease be advised and act accordingly\u201d, it pointed out.<\/p>\n

This move will be seen by many as a policy that will help reduce the country\u2019s exposure to imports.<\/p>\n

This will subsequently reduce the high demand for US dollars and other major foreign currencies, and consequently slowdown the rapid depreciation of the cedi.<\/p>\n

DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Dr. Ernest Addison The Bank of Ghana has directed banks to withdraw foreign exchange support to customers for the importation of certain non-critical or essential goods. Joy Business however understands that the withdrawal of the FX support for the importation of these non-essential goods took effect in the past three weeks. The goods affected include […]<\/p>\n","protected":false},"author":1,"featured_media":1186729,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[1274,1084,720,1418,663,4948,27039,1313,115,5219,4286],"class_list":["post-1252610","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-banks","tag-bog","tag-directs","tag-exchange","tag-foreign","tag-importation","tag-oils","tag-rice","tag-support","tag-vegetable","tag-withdraw"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1252610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1252610"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1252610\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1252610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1252610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1252610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}