Ghana’s total public debt stock, which stood at GH¢110 billion at the end of August, increased to GH¢112.4 billion at the end of September 2016, representing 67.4 percent of Gross Domestic Product (GDP). Per the aforementioned figures, the country incurred a debt of over GH¢2 billion from August to September 2016. Out of the total … Read more
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has reduced the policy rate by 50 basis point to 25.5 percent after holding it at 26 percent for months. The policy rate, which is the rate at which the central bank lends money to commercial banks, before its reduction, had remained at 26 … Read more
Some bankers have warned any move by Government to cap interest rates in Ghana will end in a disaster. Banking consultant and Principal Consultant at Osei Tutu II Centre for Executive Education & Research Nana Otuo Acheampong told host of Business Today, Vivian Kai Lokko that ‘It will be a disaster if we decide to … Read more
The Monetary Policy Committee (MPC) of the Bank of Ghana will next week Monday, announce its policy rate for commercial banks in the country. The announcement will conclude the MPC’s 73rd regular meeting which starts this Friday, November 14. For the fourth consecutive time this year, the MPC kept the policy rate unchanged at 26 … Read more
The governor of the Bank of Ghana (BoG) Dr. Abdul Nashir Issahaku has described as worrying the country’s current average lending rate which is hovering around 33 percent. According to the Dr. Issahaku, the central bank was committed to bringing down lending rates by tightening monetary policy. Speaking to Citi Business News, Dr. Issahaku said … Read more