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The Bank of Ghana has asked Daasebre Akuamoah Agyapong II, the Omanhene of the Kwahu Traditional Area, to resign as chairman of the Agricultural Development Bank (ADB) Board. The directive came after allegations of misbehaviour concerning a transaction for GH¢2 million were deemed to be false. In a letter to Agyapong II, the central bank … Read more
Advertisement A report, produced by the Office of the Chief Economist for the Africa Region of the World Bank dated June 2024 has affirmed policy effectiveness of the Bank of Ghana in controlling inflation. The Country Policy and Institutional Assessment (CPIA) Africa report, which focused on reforms across policy areas in Sub- Saharan Africa noted … Read more
Advertisement Sustaining macroeconomic stability requires the Bank of Ghana (BoG) to continue to ensure that the BoG keeps an eye on inflation, Governor Dr Ernest Addison has said. When inflation declines to comfortable levels and interest rates begin to decline, demand and supply for small and medium-scale enterprises (SME) loans will pick up and be … Read more
Advertisement The Bank of Ghana (BoG) has stepped up efforts to bring inflation under control, eliminate monetary financing of budget, and rebuild foreign currency buffers, Governor Dr Ernest Addison has said. He said the central bank is also taking steps to implement comprehensive strategy to ensure rebuilding of capital buffers of financial institutions’ post-Domestic Debt … Read more
Yields on Treasury bills (T-bills) witnessed a downward trend in the latest auction, as the government fell short of its target this week by some GHS232.7 million. The latest data from the Bank of Ghana shows that investors displayed reduced interest in T-bills during the latest money market auction – submitting bids totalling GH¢4.48 billion … Read more
The Bank of Ghana has notified financial institutions to abide by the Banks and Specialised Deposit-Taking Institutions Act, 2016 as well as the Fit and Proper Persons Criteria. Under the laws persons who were directly implicated in the 2017–2019 financial sector clean-up and all previous directors of failed banks are barred from holding key positions … Read more
Advertisement The Bank of Ghana (BoG) has reminded the general public that persons who have been directly implicated in the 2017-2019 Financial Sector clean-up, and all previous directors of failed banks and Specialised Deposit-taking Institutions (SDIs) since the enactment of Banks and Specialised DepositTaking Institutions Act, 2016 (Act 930) do not qualify to hold key … Read more
Director of Communications at the Bank of Ghana (BoG) Bernard Otabil, Advertisement Central banks all over the world are registering negative equity and this does not mean they fold up and cease operations, the Director of Communications of the Bank of Ghana, Mr. Bernard Otabil, has said. He says that in the case of Ghana’s … Read more
Advertisement The Director of Communications of the Bank of Ghana, Mr. Bernard Otabil, said that as a matter of public interest, central banks all over the world have registered losses in their quest to achieve their price stability mandate. His comment comes after the Member of Parliament (MP) for Bawku Central, Mr. Mahama Ayariga, on … Read more
Advertisement The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye says that calls for review of the Bank of Ghana (BoG) Act are meant to safeguard the central bank’s independence while ensuring its accountability. To him, an independent, transparent and accountable Bank of Ghana is an absolute necessity. “IEA’s recent … Read more