President of the Creative Arts Council, Mark Okraku Mantey thinks there is tangible reason for the introduction of GHS100 and GHS200 banknotes by the central bank.
He believes there is a valued reason for the launch of the notes and Ghanaians should not berate them for the new banknotes.
Okraku Mantey, who doubles as the CEO of Slip Music and Programmes Manager at Hitz 103 9 FM, said it seems people have negative comments about anything positive which happens in this country.
Joining Rex Omar, Ernest Adu Kumi, Noble and Da Don for discussion about the new banknotes on Daybreak Hitz on Monday, Okraku Mantey pleaded with Ghanaians to give authorities benefits of the doubt, somethings.
Although the Bank of Ghana (BoG) has said it is taking steps toward digitization, he said the introduction of Ghs200 and Ghs100 is step on the right direction.
According to him, at this point in time, many of the Ghanaian population are illiterates therefore until the Free Senior High School students graduate, the digitization will be problematic.
The Governor of the central bank announced the introduction of the new notes at a press conference in Accra on Friday, 29 November 2019 with the explanation that the move is aimed at addressing the deadweight burden on the economy from the past inflation and cedi depreciation.
Speaking at the introduction of the new notes, Dr Ernest Addison urged the public not to misinterpret the introduction of the high-value notes to mean a shift from the central bank’s policy of pursuing a cashless society.
Meanwhile, the introduction of the notes has been greeted with mixed reactions — some analysts arguing that it could cause a rise in inflation while other economists hold a contrary view.