The economy on my mind. A couple of months ago before the government made its infamous annoucement regarding foreign currency deposit in the country, you had $1000 in the bank.Your bank quickly converted your $ to Ghc and deposited Ghc2500 in your account. Fast forward today, you have a debt to settle,so you go to your bank to transfer $1000 abroad. Your bank manager tells you there is not enough money in your account for the transaction, so you need to top up in the most friendly voice, worse still he makes you feel he is doing you a favour. You ask, how much more to enable this transaction, he tells you need and additional Ghc 280. Will you save at this bank again? Will you in the future save any money in the cedi currency? How are we going to encourage savings in this country which will enable the banks to encourage lending to the business community? Economics 101, where are the Phd.s in this country to rescue us from the abyss?
Posted on: Thu, 24 Apr 2014 08:04:03 +0000
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