Director for Institute of Statistical, Social and Economic Research (ISSER), Prof Peter Quartey

The Institute of Statistical Social and Economic Research (ISSER) is advising the Bank of Ghana to assess the informal forex market and close all unregulated business activities affecting Ghana's exchange rate regime.

According to the institute, the Central Bank must deepen its efforts to reduce the dominance of the illegal forex operators on the market that drives exchange rate instability

In the institute's 2024 Mid-Year Budget Review, titled "A Critical Assessment of the 2024 Mid-Year Budget”, it urged the Bank of Ghana to collaborate with the security agencies to go after unregistered businesses within the financial sector

"Assess the size of the informal forex market and institute efforts to reduce its dominance and activities that drive exchange rate instability. The Bank of Ghana, in collaboration with law enforcement agencies, should clamp down on unregistered and unregulated businesses", ISSER stated in the review.

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