Dr Ernest Addison, Governor of BoG

The Food and Beverages Association of Ghana has expressed displeasure over the Bank of Ghana’s decision not to support importers with foreign exchange to import non-critical goods into the country.

The Central Bank has withdrawn forex support to import rice, poultry, vegetable oil, pasta, fruit juice, toothpicks, and ceramic tiles among other non-critical goods.

The Bank of Ghana believes this will help reduce the constant depreciation of the Cedi.

Speaking to Starr News, the President of the Food and Beverages Association of Ghana, Samuel Aggrey said the latest move by the Bank of Ghana is not the best.

“The announcement made by the Bank of Ghana is not the best, we cannot even tell who is advising the government on such a policy. Because the very things that we seek to stop importing are something that we cannot raise enough for the country. Therefore, if we try to put a stop to it then we are going to make other people poorer and food scarcity will set in. With what they have said, come next year it will be very difficult for importers to bring in these products to substitute the shortage that may come in.”