The BoG has continued to live to its standard and assure the general public that the Bank will never compromise on this by ensuring that they perform their counterparts roles professionally in all the currency management matters- both internationally and locally. This assurance is in wake of the social media post regarding a $20m cash shipment to the Liberia.
To explain the situation the BoG explained that it had been in a currency transfer agreement with the Central Bank of Liberia since the year 2004. Imported currency exporting from BoG to Liberia is transported to Monrovia through the Central Bank of Liberia where BoG gets the foreign currency in its behalf.
The central bank volunteered a response after coming across a news item that was making the rounds of ‘social’ media which it described as containing “fake news” that was meant to ‘misinform and disinform the public on the transit of non-circulated currency out of the country. The BoG explained that these uncircirculated banknotes are part of this accord with Liberia that has been in existence for some time.
Once all logistical arrangements which include flights have been arranged the banknotes will then have to be re-exported to the Central Bank of Liberia, this has to be according to the protocol. The BoG pointed out as well that it is always communicated with all the pertinent stakeholders on the entry and exit of these consignments strictly following the administrative and security protocols.
The BoG said it was disappointed for a lawmaker to circulate a sensitive procedural and administrative clearance letter between it and another sovereign country and without informing the public create the impression that the Bank of Ghana has done something wrong. The central bank also pointed out that currency management is a critical operation with serious security considerations and thus the public should not engage in reckless fashioning over the issue.
The current working partnership between the Bank of Ghana and the Central Bank of Liberia, the BoG also noted, was evidence of the confidence both countries have in each other, and this is indication of the friendship that exist between the two neighboring countries of Ghana and Liberia.
SOURCE: https://dew360.net
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