No Definite Decision To Print Additional Unit Of Currency

No definite decision has been taken to print additional units of currency for Ghana, Mr. Kwesi Bekoe Amissah-Arthur, Governor of the Bank of Ghana said yesterday.

He explained that any decision to print new currency will be subjected to the approval of the Board of Directors of Bank of Ghana, which is yet to be inaugurated.

The Governor was speaking to journalists after being sworn-into office by President John Evans Atta Mills at the Castle, Osu.

He denied that the cedi will soon be out of use, but hinted the possibility of printing new units of the currency.

Mr. Amissah-Arthur, succeeded Dr. Paul Acquah, and resumed work on last Thursday, October 1.

Mr. Amissah Arthur, an Economist, and a former Deputy Minister for Finance, has already met staff of the Bank.

He admitted challenges within the nation's banking sector, but said his team is ready to strategise and overcome them.

Mr. Amissah-Arthur said areas that need to be tackled are the rising base rate against the prime rate and how to stabilise inflation to facilitate business growth.

He referred to a recent audit of banks in Nigeria, and said the Central Bank will not undertake any wholesale audit but will carry out the exercise when necessary.

Mr. Amissah-Arthur expressed confidence in the team of technocrats instituted for the monetary sector.

Source: GNA