Banks Beg For Dollars

Bank of Ghana’s recent directive to commercial banks to keep nine percent of their reserves with it in order to address the ‘dollarization’ of the economy has succeeded in ridding the latter’s coffers of dollars. Most dollar account holders have withdrawn their dollars from banks to stop monthly deductions. An expert told CITY & BUSINESS GUIDE that people who withdrew their dollars from the banks had invested them with savings and loans companies while others were allegedly keeping theirs at home.