Banks Wrote-Off ¢5.9Bn As Bad Debt In 2022
Banks operating in Ghana wrote-off about ¢5.9 billion as bad debt in December 2022. According to the Domestic Money Banks Income Statement, this is about 184.2% increase over the previous….
Tag: BoG
Bonds Constituted 76.4% Of Banks Investments In 2022
Securities or long-term debt instruments or bonds were the largest components of banks’ investment portfolios in 2022. This is despite the Domestic Debt Exchange Programme. According to the Bank of….
Cedi Losses Some Stability; $1 Equals ¢12.90
The recent gains by the Ghana cedi has come to a halt as the local currency lost some stability to the US dollar today February 20, 2023. At the forex….
Inflation Likely To Peak In Quarter 1, 2023 – BoG Affirms Position
The Bank of Ghana has reiterated that inflation is likely to peak in the first quarter of 2023 and gradually ease thereafter. However, headline inflation is projected to remain above….
Central Banking In Crisis: How BoG Steadied Economic Ship To Calm Waters
FOR those old enough to remember Ghana’s economic crisis of 1982/3, the country’s closest to those ugly times came last year. In 2022 when revenue growth flattened and the borrowing….
Cedi Continues Rise Against Dollar; Gained 0.81% Last Week
The Ghana cedi continued to rise steadily against the US dollar amidst the Bank of Ghana’s tight foreign exchange intervention. Last week, the local currency gained about 2.31% in value….
BoG Must Be Blamed For High Inflation – Professor Williams Peprah
US-based Associate Professor of Finance at Andrews University in Michigan USA, Williams Kwasi Peprah, has accused the Bank of Ghana for high inflation in the country. The Bank of Ghana….
Bog Cannot Justify Scale Of Lending To Government – IEA Director Of Research
The Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye, has stated that the Bank of Ghana’s justification of its financing of government budget in 2022….
BoG Justifies Financing Of Government’s 2022 Budget With ¢44.5Bn
The Bank of Ghana (BoG) has justified financing of the government’s 2022 budget with about ¢44.5 billion. According to the Central Bank, its net claims on the government increased by….
Demand For Dollars Ease; Bog Sold Only $9.2m On Spot Market
Demand for dollars continued to ease as the Bank of Ghana sold only $9.2 million on the spot market last week (January 30 – February 3, 2023). Analysts and Market….