Banks are ready to channel funds into strategic areas that would accelerate economic growth and ensure a quicker recovery from the scourge of COVID-19 but government must create a more stimulus to attract such funding from commercial banks, the Deputy CEO of the Ghana Association of Bankers, John Awuah has said. Speaking as part of the first plenary of the...
Parliament has approved the financing agreement between the Government of Ghana and the International Development Association (IDA) of the World Bank for an amount of $250 million for the establishment of a National Development Bank. The World Bank Board of Executive Directors had earlier on October 29, 2020, approved the US$250 million facility to support the establishment of the Bank...
The October 2020 inflation rate was 10.1 percent, 0.3 percentage point lower than what was recorded last month, the Ghana Statistical Service (GSS) has announced on Wednesday, November 11. According to the GSS, the month-on-month inflation between September 2020 and October 2020 was 0.2 percent. This contrasts with the negative month-on-month inflation that was observed in the previous two months. However, this...
Stakeholders in Ghana’s banking sector are advocating for more support from various sectors of the economy to tackle money laundering in Ghana. This menace, which has resulted in Ghana’s current position on the European Union’s grey list, can limit many transactions with other countries if not checked. The Financial Action Task Force (FATF), the initiative set up to tackle money laundering...
