Bank of Ghana

The Finance Committee and the Central Bank have released different figures purporting to be the current level the country’s reserves as US$3.0 billion and US$7.6 billion respectively.

The local currency has depreciated by about 18.89% to the dollar on the interbank market and 26% on the retail market.

The Monetary Policy Committee, (MPC) will from this week begin to review the health of the economy and also announce a new policy rate for the next couple of months. …

According to the Central Bank agriculture has broader implications on the economy, including price stability, exchange rate stability and generation export revenues from the sector.

The government spent about ¢10.6 billion to pay interest on loans in the first quarter of this year, with a chunk being used to service domestic debt.

The linkage of Ghana cards to bank accounts is a government initiative to weed out fraudsters from the banking sector.

Ghana’s policy rate of 19% is the second highest in Sub-Saharan Africa after Angola, Fitch Solutions tracking of 20 countries in the region has revealed.

According to the latest Monetary Policy report by the Bank of Ghana, the bad debt is made up of loan losses, depreciation, among others.

They believe the Bank of Ghana’s measures put in place to curb the consistent rise in inflation are either not working or the situation is not being diagnosed properly. Both, …

Ghana’s balance of payment deficit has more than doubled for the first quarter of 2022