‘We are not ready for change’, Frank Bannor reacts to exchange rate issues

The Economist and Head of research of the Danquah Institute, Frank Bannor has expressed that attitude of citizens forms part of the depriving state of the country’s exchange rate system.

His comment follows a question on the dollorization system in Ghana.

He also stressed that the forex bureau plays major role in the exchange rate issues.

“The average Ghanaian is not ready for the change he it she calls for,” he noted.

He added that a way to help tackle our forext system is to “empower the forex Bureau to only mop up excess dollar in the economy.”

He was speaking at the ABC News Economic Symposium on Thursday, 25th July, 2024 in Kumasi.

The symposium is the first in a series to be held this year by ABC News, looking at the behavior’s of the Ghanaian economy.

Speakers at the maiden event discussed the performance of the Ghanaian economy under the theme “’State of the Ghanaian Economy.”

Also speaking was David Amoateng, the president of the Traders’ Advocacy Group (TAG), together with other prominent figures.

Ishaq Kyei-Brobbery, Finance and Management Expert, Lecturer, Kumasi Technical University, Dr. George Domfe, Development Economist, Snr Research Felow, Centre for Social Policy Studies, University of Ghana, Legon, and Prof. Isaac Boadi, Dean, Faculty of Accounting and Finance, UPSA.

Serving as the Guest of Honour was the Hon. Simon Osei-Mensah, the Ashanti Regional Minister.