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SPEECHES
SPEECH DELIVERED BY DR. ERNEST ADDISON, GOVERNOR, AT GRAPHIC BUSINESS/STANBIC BREAKFAST MEETING
As we all know, Ghana’s economy is import dependent, hence the existence of persistent foreign exchange demand pressures by importers. In addition to these huge demand pressures, the seasonal repatriation of profits and dividends foreign-owned companies reflects in significant outflow of resources out of the services and income accounts, exerting additional pressures on the local currency. As a matter of fact, these developments explain why the two consecutive years of trade surpluses have not fully translated into current account surpluses.