Tag Archives: BoG

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 …

Ghana’s public debt stock remarkably shot up by ¢40.1 billion to ¢391.9 billion as of the end of March, 2022, the Summary of Economic and Financial Data by the Bank of Ghana has revealed. The increase in the debt is due largely to exchange rate fluctuation and to some extent …

The Monetary Policy Committee of the Bank of Ghana has increased the policy rate – the rate at which it lends to commercial banks – by 2.5% per cent to 17%. This is the first time since November 2018 that the rate has gone up so high. The decision is …

With barely five weeks to end the year, the Ghana cedi has come under intense pressure and is being classified among African currencies with the ‘Worst Spot Returns’. It’s now ranked 14th among 20 top African currencies tracked by Bloomberg.  It was actually the best performing currency in Africa in …

Ghana’s public debt stock hit ¢341.8 billion as of the end of September, 2021, the November ,2021 Bank of Ghana Summary of Economic and Financial Data has revealed. This is equivalent to 77.8% of Gross Domestic Product (GDP) and confirms concerns by analysts and economists that the country’s debt has …

  The Governor of the Bank of Ghana has announced that the GHC 1 and the GHC 2 commemorative notes would soon be phased out from the system.   According to the Central Bank, the poor handling of the notes, that is torn and soiled, make it expensive to print …

The Bank of Ghana is ready to begin the pilot phase for the first digital currency known as the ‘e-cedi’ by September this year. Also known as the Central Bank Digital Currency, it is expected to operate in a sandbox in the interim before introducing to the general public as …

The Bank of Ghana (BoG) has released the list of regulated companies approved to operate as electronic money issuers and payment service providers for business transactions in the country. They include five dedicated electronic money issuers and 21 payment service providers. This follows the passage of the Payment Systems and …