Dr. Ernest Addison, the governor of the Bank of Ghana, has assured that the central bank has enough cash on hand to maintain the economy's general stability until the start of the anticipated IMF program and other financing guarantees anticipated from stakeholders.

He asserts that efforts are being made to ensure that the central bank has some liquidity, notwithstanding the continuing economic difficulties that the entire globe and Ghana in particular are experiencing.

As everyone knows, we received the 750 million dollars from the AfriExim Bank, and on October 26, 2022, we will receive the 790 million dollars from the COCOBOD syndicated loan, providing some liquidity for the Central Bank.

“I am aware of the recent developments in terms of liquidity in the banking sector. As I said, I took note of the advice from Washington on the financial stability issue that there has to be targeted liquidity support to preserve financial stability without undermining the inflation control objectives. So, this is really the context we should have the discussion on all the complaints of we need liquidity and BoG not supplying liquidity."

Dr Ernest Addison further said he has held engagements with Chief Executive Officers of banks to assure them there is enough liquidity which will be provided to them.

“Yesterday I met the CEOs and I have assured them that we will provide the necessary liquidity to ensure that we don’t have a system of a liquidity problem. But we do that within the context of keeping inflation low”.

The Governor made this statement when the management of the Bank met with stakeholders within the foreign exchange market, including the Managing Directors of the universal banks in the country.

Also present at the meeting were the Association of Forex Bureau Operators to deliberate on measures to streamline, sanitise and provide clarity on the supply of forex in the country.