Tag Archives: BoG

The Information Minister, Kojo Oppong Nkrumah   has said some dollars will be injected into the economy soon to halt the sharp depreciation of the Ghanaian Cedi. Kojo Oppong Nkrumah said about $2 billion will hit the government’s account shortly. For the breakdown, he said $750 million is expected from …

The Ghana cedi has hit the ¢10 mark as it traded at ¢10.01 in the retail market yesterday August 18th, 2022. At the same time, the cedi went for ¢10 to a euro.   The cedi’s situation has become a major worry to businesses and household consumers, as its continuous …

The Ministry of Finance has dismissed social media reports that Databank and Black Star Brokerage – linked to Finance Minister, Ken Ofori-Atta and the Minister of State at the Finance Ministry, Charles Adu Boahen were handpicked by the Finance Ministry and the Bank of Ghana to act as Bond Market …

The Bank of Ghana has increased the policy rate by 300 basis points to 22%, after an Emergency Monetary Policy Committee meeting today, August 17th, 2022. The move is part of measures to address the risks to the inflation outlook. However, cost of borrowing is expected to go up significantly, …

The Bank of Ghana has given strong indication that the recently approved $750 million Afriexim loan facility by Parliament once disbursed, among other measures, will boost the foreign exchange position of the country and help restore confidence in the cedi. The additional measures include the cocoa syndication loan which is …

The cedi lost 19.2% in value to the US dollar in almost seven months of 2022. According to the Summary of Economic and Financial Data by the Bank of Ghana, the local currency went for ¢7.43 to the American ‘greenback’ on the interbank market as of July 22nd, 2022. It …

The Bank of Ghana (BoG) has indicated that it will appeal a Court of Appeal ruling directing the central bank to reverse the revocation of the license of Savings and Loans Company UniCredit in 2019 . The Bank of Ghana said it has instructed its lawyers to appeal the decision …

Customers of banks who are yet to update their records with the Ghana Card have less than 20 days to do so or else they risk not being able to engage in any financial transaction through their accounts. Some banks including Stanbic, have started sending messages to their customers reminding …

A legal practitioner has petitioned the Attorney-General (A-G) to prosecute the Governor of the Bank of Ghana (BoG) and other top officials of the bank over the sharp fall in the value of the Ghana cedi. Dr John E. Baiden is urging the A-G to go behind the BoG over …

The Bank of Ghana (BoG) has raised the policy rate by 200 basis points to 19 percent at the Monetary Policy Committee (MPC) meeting held on Monday May 23, 2022. According to BoG, the decision to increase policy rate is due to upside inflation outlook, the effects of the pandemic …