BoG stops supply of dollars for importation of rice, poultry, vegetable oil, toothpicks, other items

The Bank of Ghana (BoG) will henceforth cease the supply of forex to importers of foods including rice and poultry, among others.

It can be recalled that President Akufo-Addo in his address to the nation on Sunday, October 30, announced that government will take steps to reduce the country’s dependence on imported goods.

The items mentioned in that address included rice, poultry, vegetable oil, toothpicks, pasta, fruit juice, bottled water, and ceramic tiles.

“...we will review the standards required for imports into the country, prioritise the imports, as well as review the management of our foreign exchange reserves, in relation to imports of products such as rice, poultry, vegetable oil, tooth picks, pasta, fruit juice, bottled water and ceramic tiles, and others which, with intensified government support and that of the banking sector, can be manufactured and produced in sufficient quantities in Ghana.

“Government will, in May 2023, that is six (6) months from now, review the situation. We must, as a matter of urgent national security, reduce our dependence on imported goods, and enhance our self-reliance, as demanded by our overarching goal of creating a Ghana Beyond Aid,” President Akufo-Addo said in his address to the nation on the economy.

Today, Gabby Otchere-Darko, a staunch member of the ruling New Patriotic Party (NPP) and close to the seat of government has disclosed that the government is going ahead with the announcement by the President.

According to him, the Bank of Ghana (BoG) will no longer provide forex for importers to bring into the country foreign foods including rice.

“In line with the President's directive issued at his recent "Fellow Ghanaians", BoG says from today it "will no longer provide fx support for the imports of rice, poultry, vegetable oil, toothpicks, pasta, fruit juice, bottled water, ceramic tiles, and other non-critical goods,” Gabby Otchere-Darko shared on Twitter on Thursday.