An Economist at the Garden City University Dr.Francis Tandoh,says Ghanains poor handling of the cedi notes is part of the reasons why the Bank of Ghana prints new notes every year.
The Bank of Ghana spent more than GHc153 million in 2018 to print the country’s legal tender,the cedi.
The figure covers the actual cost of printing the legal tender,agency fees pain to the intermediary firm that supervised the printing process as well as what the central bank describes as other currency expenses.
Speaking to our colleague Nana Yaa Egudze in an exclusive interview,Dr. Tandoh says our handling of notes is what forces the apex bank into printing new notes.
He added that while the figures may seem huge,it is as a result of the cost of production and the security of the notes.