Banking and Finance – Page 2

Interest payments in Ghana have overtaken money generated in the domestic economy by 24.4 percent in Q1

June 15, 2021 by Ikay

Interest payment on debt, together with compensation of government employees has overtaken money generated in the domestic economy by 24.4 percent in the first quarter of the year, the Central Bank’s first quarter statistical bulletin data has revealed. According to the data, the country generated GH¢12.5 billion from the domestic economy as of first quarter … Read more

Sub-20% interest rates needed for businesses to be competitive – GUTA

June 3, 2021 by Ikay

President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng says until interest rates on loans drop below the 20 percent mark, the recent reduction in the monetary policy rate will not make much difference. The Monetary Policy Committee (MPC) of the Bank of Ghana, for the first time since March 2020, reduced … Read more