The Bank of Ghana (BoG) has refuted reports that the country has lost US$8 billion in the last two years based on FinTechs and Money Transfer Operators (MTO) withholding inward remittances at the expense of the country’s foreign currency reserves.
The central bank described the report as misleading and not grounded on facts.
According to the BoG, the report suggested that the country lost US$ 5 billion in 2022, and US$3 billion in 2023.
“The purpose of this publication is to properly inform and educate our stakeholders and the public on the extent of involvement of FinTechs and MTOs in inward remittance services and to clarify inaccurate reports that have been shared in the media lately”, a statement signed by the BoG said.
Below is the full statement
Latest Stories
-
Kudus named Footballer of the Year for 2nd consecutive time at Ghana Football Awards
3 hours -
Winners from 2nd edition of JoyNews Impact Makers Awards
4 hours -
JoyNews Impact Makers Awards: Eunice Asiedua Agyepong emerges 2024 overall winner
5 hours -
Euro 2024: Havertz and Musiala score to take Germany to last 8
5 hours -
Photos from 2nd edition of JoyNews Impact Makers Awards
6 hours -
Heavy rains cause severe damage on Ho-Juapong road; motorists and travellers stranded
6 hours -
Ara Bella releases new single “Lose You” ahead of anticipated EP
7 hours -
Playback: JoyNews Impact Makers’ Awards 2024 underway at AICC
7 hours -
Staff of Koforidua SHTS confirmed dead in accident at Aseseeso
8 hours -
Euro 2024: Switzerland stun defending champions Italy to reach last 8
8 hours -
High Court blocks Daniel Ofori from enforcing Supreme Court impugned decision
8 hours -
Election 2024: NPP and Int’l Youth Democrat Union’s partnership set the tone for a resounding victory
8 hours -
Ocean Green Beach Resort CEO Benjamin Kwasi Gagba wins ‘Ghana’s Most Outstanding Personality’
9 hours -
Accra to host inaugural Green Film Festival
9 hours -
JoyNews Impact Makers Awards 2024 nominees unveiled [Full list]
9 hours