By Antonio Dey | HGPTV Nightly Newsroom
While the government continues to defend its decision to inject US$100 million into the local banking system in response to rising concerns over foreign currency shortages, at least one accountant and corporate attorney is now calling for a comprehensive foreign currency audit to ensure transparency and accountability.
The government has maintained that the injection was necessary to stabilize the exchange rate, meet importer demands, and restore market confidence amid growing pressure from the private sector.
However, Christopher Ram—says the situation warrants independent verification of how foreign currency is circulating, held, and allocated within commercial banks and central reserves.
“A public audit of forex inflows and outflows, as well as the recipients of these injections, is the only way to reassure the business community and citizens that this move was made in good faith and is achieving its purpose,” the attorney asserted.
The call for an audit comes as businesses continue reporting challenges accessing USD, with concerns that the shortage affects imports, pricing, and investor confidence.
The Ministry of Finance is expected to release further details on the impact of the currency injection in the coming days.
