Prof. Isaac Boadi, Executive Director of the Institute of Economic Research and Public Policy (IERPP) and the Dean, Faculty of Accounting and Finance, has called for an enhanced harmonious relationship between the Bank of Ghana (BoG) and the Ministry of Finance (MoF). His assertion is based on the recent simultaneousContinue Reading
The average lending rate of 28.6% for secured loans by banks in Quarter four (Q4) 2024 was the lowest across all the lending institutions, the Bank of Ghana has revealed. This is compared with 28.8% in Q4 2023. This was followed by the Finance and Leasing companies with an averageContinue Reading
President John Dramani Mahama has nominated Dr. Johnson Asiamah to serve as Governor of the Bank of Ghana pending approval by the Council of State. Dr Asiamah’s nomination follows the receipt and acceptance of a formal request by current Governor, Dr. Ernest Addison, to proceed on leave leading to hisContinue Reading
The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison will from Monday February 3, 2025 proceed on a terminal leave as he prepares for retirement. Authentic Ghanaian cuisine recipes Information from the Central Bank confirms that Dr. Addison who has served as Governor since April 2017 is embarkingContinue Reading
Ghana’s gold reserves have skyrocketed by 56%. Data released by the Bank of Ghana shows that the country’s gold reserves rose from 19.5 tonnes in 2023 to a robust 30.5 tonnes in 2024 estimated in value at $2.7 billion. This strategic accumulation of gold follows the Bank of Ghana’s GoldContinue Reading
Ghana’s gross international reserves increased by $US1.101 billion in December 2024 to hit US$8.982 billion. This is equivalent to 4.0 months of import cover. According to data from the Bank of Ghana, the country’s reserves stood at $6.31 billion in January 2024 but dropped to $5.99 billion in March 2024.Continue Reading
Ghana’s total public debt fell by GH¢24.1 billion month-on-month to GH¢761.0 billion in November 2024, the Bank of Ghana has disclosed in its January 2025 Summary of Financial and Economic Data. This was a result of external debt restructuring which has trimmed Ghana’s external debt component. In dollar terms, theContinue Reading
The Ghana cedi lost 2.4% in value to the US dollar in the first month of 2025. This is compared to a depreciation of 1.3% during the same period last year. According to the Bank of Ghana, the local currency traded at a rate of GH¢15.06 to the American greenbackContinue Reading
The Ghana cedi lost 0.48% to the dollar last week, increasing its year-to-date loss to 1.27% with just 13 days into 2025. Cedi loses grounds against dollar, but records gain against pound; one dollar equals GH¢15.85 The local currency closed closing at a mid-rate of GH¢15.68 to one American greenback.Continue Reading
The Bank of Ghana (BoG) has cautioned authorized foreign exchange (FX) brokers against breaching the Ghana Interbank FX Market Conduct Rules. It warns that violations will attract severe penalties, including potential revocation of authorisation. This comes as the central bank authorizes 15 brokers to operate in the interbank forex marketContinue Reading