The Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has expressed confidence that the central bank\u2019s annual remittance targets will be achieved for the year 2025.<\/p>\n
Speaking at the 126th Monetary Policy Committee (MPC) press conference, Dr Asiama noted that banks had reported a noticeable decline in remittance inflows.<\/p>\n
\u201cPreviously, these inflows played a significant role in supporting import financing, which in turn facilitated active interbank trading. During that period, the central bank\u2019s intervention in the market was minimal. However, with the recent reduction in inflows, the dynamics have shifted,\u201d he said.<\/p>\n
He assured that the BoG has implemented measures to address the situation and that banks are beginning to record positive results.<\/p>\n
\u201cWe are actively addressing this issue. About a month ago, we introduced a series of measures aimed at restoring remittance inflows, and we are beginning to see encouraging outcomes.<\/p>\n
\u201cSome Money Transfer Operators (MTOs) have started rerouting flows back into the country, which is a positive development. Our objective remains to strengthen interbank market activity and enhance liquidity,\u201d Dr Asiama explained.<\/p>\n