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BoG withdraws foreign exchange support for importation of rice, vegetable oils, others

November 17, 2022
Reading Time: 2 mins read
Restrict black market operators in Ghana to stabilise the Cedi

The Bank of Ghana has withdrawn foreign exchange support to customers for the importation of certain non-critical or essential goods.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 rice, poultry, vegetable oils, toothpicks, pasta, fruit juice, bottled water and ceramic tiles.

An electronic message from the Bank of Ghana to the banks cited by Joy Business read “in accordance with the President [Akufo-Addo] directive issued at his recent address to the nation on the Ghanaian economy, on Sunday 30th 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”.

“Please be advised and act accordingly”, it pointed out.

The Bank of Ghana has withdrawn foreign exchange support to customers for the importation of certain non-critical or essential goods.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 rice, poultry, vegetable oils, toothpicks, pasta, fruit juice, bottled water and ceramic tiles.

An electronic message from the Bank of Ghana to the banks cited by Joy Business read “in accordance with the President [Akufo-Addo] directive issued at his recent address to the nation on the Ghanaian economy, on Sunday 30th 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”.

“Please be advised and act accordingly”, it pointed out.

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