Business News of Saturday, 4 January 2020Source: Myjoyonline.comIntroduction of GH¢100, GH¢200 banknotes not ‘ambush’ – BoG reacts to Mahama’s commentFile photoThe Bank of Ghana has said the introduction of the new higher denomination banknotes it issued recently was the result of a well-thought-out currency reform programme. The central is reacting to a comment by former President John Mahama that the introduction of the new notes was done on the blind side of Ghanaians. “The deadweight burden of carrying large sums of money for economic transactions was returning, with the phenomenon of carrying currency in plastic bags. As is the normal practice in all jurisdictions, Central Banks undertake periodic reviews of the structure of existing currencies. Read Bank of Ghana’s justification for issuing the new notes in the statement below.

Source: GhanaWeb January 04, 2020 00:22 UTC