- The Bank of Ghana says it would soon replace the GHC1 and GHC2 notes with their respective coin
- Ghanaians do not seem to agree with the government's decision to do so
- According to most people YEN.com.gh interacted with, the coins will expose and embarrass them during offering time in church
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On Monday, September 27, the Bank Of Ghana announced that the GHC1 and GHC2 notes currently in circulation would soon be phased out of the system.
According to the BoG, both denominations will be replaced by their respective coins and the notes completely out of use.
YEN.com.gh hit the streets to find out from Ghanaians what they thought of the decision of the government.
A woman who traded in plastic containers at the Madina market said the GHc 1 and 2 notes helped and are of great importance to people because it is the most useful denomination during church offering.
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According to her, phasing out of the notes to be replaced by their respective coins will really be a problem, since the coins will make a lot of noise to expose and embarrass them.
The woman said phasing out of the notes will come as a problem with children because they will end up misplacing the money or swallowing it.
Another person who shared his concerns said the notes do not last in the system as most people do not handle the money properly.
He further explained that when these same notes are given to passengers they reject them saying they are either torn or too dirty and weak.
He added that the only problem will be in the coins making noise in offering bowls but he was quick to say that will not be an issue if that is what you can pay.
Another middle-aged woman who was engaged by the YEN team said unlike the notes, the coins could easily get missing when it falls.
According to her, the notes were easy to locate when it falls and would not roll into where it cannot be found.
A bus driver at the Madina station said the coins will not be of help as most passengers reject the coins when they give them as balance.
He said the government should reconsider its decision to phase out the notes as it doesn't look right for coins to be turned in for the day's sales.
Watch the video of the interview below;
Ghana had a resilient economy before COVID struck
Away from BoG, the Minister of Finance, Ken Ofori-Atta has stated that even before the coronavirus pandemic struck, Ghana already had a resilient economy.
According to him, the government built a resilient economy before the country was hit by the deadly Covid-19 pandemic.
Speaking in an interview with CNN’s Richard Quest and reported by Starrnews, he said the country went through headwinds just to build a resilient economy.
“Ghana went through the headwinds and built a resilient economy which grew at an average 6% in the three consecutive years prior to the pandemic,” he said.
He added that amidst the pandemic, the Ghanaian economy has leapt to become a hub for investment in the region.
Ofori-Atta boasted about the fact that some important organisations had decided to settle in Ghana due to its stable economy.