No Decision To Close All Foreign Deposit Accounts -BOG

The Bank of Ghana’s attention has been drawn to media reports being attributed to the Bank that it is planning on closing all foreign deposit accounts and has instructed that a 2% per annum charge be levied on all foreign deposit accounts in the banks.

The general public and all stakeholders are assured that the Bank of Ghana has not taken any such decision.

The recent policy measures taken by the Bank are intended to make Cedi assets more attractive to hold. It has been observed that the measures are beginning to have the desired effect on the Cedi.

The Bank of Ghana therefore wishes to assure the general public and all stakeholders that it is committed to ensuring the stability of the Cedi.

End

June 8, 2012