{"id":18779,"date":"2025-09-16T00:01:09","date_gmt":"2025-09-16T00:01:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/18779\/"},"modified":"2025-09-16T00:01:09","modified_gmt":"2025-09-16T00:01:09","slug":"economist-calls-for-oversight-body-to-close-forex-rate-gaps","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/18779\/","title":{"rendered":"Economist calls for oversight body to close forex rate gaps"},"content":{"rendered":"<p class=\"article-image\"><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/Economist-calls-for-oversight-body-to-close-forex-rate-gaps-2000773?gallery=1\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/il\/wp-content\/uploads\/2025\/09\/77855090.295.jpg\" alt=\"Prof. Godfred Bokpin is an economist\" title=\"Prof. Godfred Bokpin is an economist\" width=\"295\" height=\"162\" \/> <\/a>Prof. Godfred Bokpin is an economist<\/p>\n<p id=\"article-123\">Economist, Professor Godfred Bokpin has called for the establishment of an oversight committee to monitor interbank foreign exchange rates and those on the black market.<\/p>\n<p>He argued that the persistent disparities between official and parallel market rates are a major contributor to the instability currently affecting the foreign exchange market.<\/p>\n<p>His remarks follow the recent depreciation of the cedi, which had shown signs of stability during the early months of the year.<\/p>\n<p>Bokpin said; \u201cWhat we need now is an oversight committee that will track interventions in the foreign exchange market and bring transparency to how the cedi is being managed.&#8221;<\/p>\n<p><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/IMF-backs-BoG-s-tough-forex-rules-to-strengthen-cedi-2000694\" target=\"_blank\" rel=\"nofollow noopener\">IMF backs BoG\u2019s &#8216;tough&#8217; forex rules to strengthen cedi<\/a> <\/p>\n<p>He noted that \u201cSuch a body, properly constituted, will also help restore confidence and protect exporters who are losing competitiveness because of these gaps.\u201d<\/p>\n<p>On the constitution of the committee, the economist proposed that the committee should include representatives of government, the Bank of Ghana (BoG), exporters, importers and independent economists.<\/p>\n<p>While noting that this may not be an easy feat, a phased approach, including enforcing existing laws, tightening oversight and keeping policy signals consistent, will be needed.<\/p>\n<p>\u201cWithout these, the black market will continue to thrive,\u201d he cautioned.<\/p>\n<p>Prof Bokpin explained that these measures are necessary to cushion exporters against the swings in the market.<\/p>\n<p>\u201cWhen the cedi appreciates sharply and then depreciates within a short period, companies cannot plan. Exporters, in particular, are exposed because they earn in foreign currency but spend in cedis, and the sudden swings erode their margins.<\/p>\n<p>\u201cThis is about protecting exporters, safeguarding jobs, and creating the predictability that businesses need to survive,\u201d he emphasised.<\/p>\n<p>SSD\/SA<\/p>\n<p>Watch the latest edition of BizTech below:<\/p>\n","protected":false},"excerpt":{"rendered":"Prof. Godfred Bokpin is an economist Economist, Professor Godfred Bokpin has called for the establishment of an oversight&hellip;\n","protected":false},"author":2,"featured_media":12372,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-18779","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/18779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=18779"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/18779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/12372"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=18779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=18779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=18779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}