PrimeNewsGhana

Full list of FX Development Committee members tasked to probe cedi depreciation

By Justice Kofi Bimpeh

The Finance Ministry last week inaugurated a committee to look into the causes of the depreciation of the cedi and propose solutions to the problem.

The establishment of the committee, named the FX Developments Committee, is a fulfillment of a promise made by the ministry last year to constitute a bi-partisan committee to look into the problem and help address it.

He said the committee will work to complement the efforts of the Bank of Ghana in curtailing the usual poor performance of the cedi against other major foreign currencies.“The formation of this committee is not to infringe on the independence of the central bank in its foreign exchange operations,” he said.

The Deputy Minister explained that the committee will also review the current forex regime, identify the inherent constraints in the system and offer workable alternatives by way of policies and programmes which potentially would reduce FX risks in the economy.

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“The committee is also to critically look at the role of automation and digitization as a critical enabler of FX reforms,” he stated.

The cedi last year depreciated by more than 12.7 percent, the worst performance since 2015 when the cedi depreciated by more than 14.6 percent.

The committee is chaired by Ken Ofori-Atta, Finance Minister with other members coming from multiple institutions.

Below is the full list of members on the 38-member committee.

Name         Designation Institution

Ken Ofori-Atta-Minister Finance Ministry

Owusu Afriyie-Akoto-Minister Ministry of Agric

Alan Kyerematen-Minister Trade and Industry Ministry

Dr. Maxwell Opoku-Afari-First Deputy Governor Bank of Ghana

Dr. Samuel Nii Noi Ashong-Senior Policy Advisor Ministry of Finance

Dr. Yaw Anum -Senior Technical Advisor Ministry of Finance

Evron Hughes -Technical Economic Advisor Office of the Vice President

Benjamin Komla Kpodo -Ho Central MP Parliament

Patrick Nomo -Chief Director Ministry of Finance

Samuel Arkhurst -Director, Tertiary and Debt Management MoF

Sampson Akligoh -Director, Financial Services Division MoF

Alhassan Iddrissu -Director, Economic Strategy and Research MoF

Steve Opata -Head of Financial Markets BoG

Kwasi Kwaning Bosompem -Ag. Controller and Accountant General CAGD

Joseph Boahen Aidoo -CEO Cocobod

Afua Asabea Asare -CEO Ghana Export Promotion Authority

Yofi Grant -CEO Ghana Investment Promotion Centre

Addae Antwi Boasiako -CEO Minerals Commission

K. Duker -Senior Advisor MoF

Senyo Hosi CEO -Chamber of Bulk Oil Distributors

Franklin Cudjoe -President IMANI Ghana

Abena Osei-Poku -Managing Director Barclays Bank Ghana

Kobla Nyaletey -Director, Head of Global Markets Barclays Bank Ghana

Adoteye Anum- Head, Financial Markets Standard Chartered Bank

Kojo Bannerman -Executive Director, Financial Market Sales Standard Chartered Bank

Theophilus Arthur-Mensah Policy and Research Analyst Association of Ghana Industries

Dr. Joseph Obeng -President Ghana Union of Traders Association

John Nyaaba- Treasurer Ghana Association of Bankers

Samuel Aidoo- Treasurer Fidelity Bank

Maame Efua-Bulley Head, Global Market Sales Stanbic Bank

Felix Hamidu -Executive Director D’afrique Ltd

A representative Forex Bureaux Association of Ghana

Bash Mohammed Abdul Razak -Principal Economic Advisor Ghana Extractive Industries

Franklin Eleblu -Chief Software Architect Ghana Fintech Chamber

Nkechi Akunyili -Country Treasurer, UBA Nigerian Banks in Ghana

A representative Makola Traders Association