Bank of Ghana
Ghana holds first Financial Stability Council meeting
Council was established after central bank confronted crisis in commercial lenders
Ghana to maintain flexible exchange rate, says Addison
Governor confirms he stands by flexible exchange rate despite recent volatility
Bank of Ghana slashes further 100bp from policy rate
Action follows similar move in 2018, as inflation declines into the target range
People: Nellie Liang withdraws from Fed nomination; World Bank chief resigns
Trump nominee had played a key role in setting up the Fed’s stress tests; Kim was due to leave World Bank presidency in July 2022; further appointments in UK, Vietnam and Ghana
Ghana's central bank closes two banks and plans to recapitalise five more
Three banks to merge as financial sector reform effort continues
Ghana’s Addison blames predecessors for banking system weaknesses
New governor closed seven banks in 12 months in banking system clean up
West African single currency plans move towards lift-off
Ecowas community launches competition for design of new currency aimed at strengthening trade and growth within the region
Ghana’s central bank ramps up cyber effort
Central bank launches new directive and security operations centre
Ghanaian governor accuses failed banks of malpractice
Ernest Addison says some banks used “pretence” and shareholders took large sums
Ghana under pressure from Fed hikes – governor Addison
US policy normalisation sends Ghana’s inflation into double figures while the currency falters
Bank of Ghana cuts rates as economy stabilises
Central bank lowers interest rates to 17% as inflation moderates to the middle of the target
Ghana’s Addison warns banks on price of not innovating
Emerging fintechs have the power to displace traditional banks, Ghanaian governor says, as new payment system goes live
IMF says Ghana should change law to prevent monetary financing
Directors commend recent progress in reducing inflation but call for stronger safeguards
Bank of Ghana looks for ‘smooth’ transition to higher capital requirements
Central bank more than triples capital requirements for all banks to $90 million, and asks banks to comply by the end of the year
BoE to provide ‘tailored’ assistance to African counterparts
UK central bank to share expertise with counterparts in South Africa, Sierra Leone and Ghana, as part of wider initiative to support African economies
Bank of Ghana slashes rates as inflation moves towards target
Central bank continues an easing cycle that began in 2016, citing a “significant moderation in price pressures”
Bank of Ghana places troubled UniBank under administration
Central bank says it has made several attempts to save the mid-sized lender since 2016, but claims lack of co-operation from management and false information led to failure
People: Banque de France deputies named
Sylvie Goulard and Denis Beau take positions at Banque de France; second deputy governor at Bank of Ghana vacates post; Bolivian central bank’s board gets new vice-chair; and more
Bank of Ghana pauses policy easing on inflation worries
Central bank holds interest rates at 21% to see if external pressures will prove persistent; improvement in export prices will provide country with buffer against shocks
Ghanaian central bank closes two commercial banks
IMF staff called for action in February over problems at some commercial banks
People: IMF official appointed Bank of Ghana deputy; new communications chief for BoE
Former IMF official appointed first deputy at Bank of Ghana; BoE forecasting chief moves into new communications role; and more
Ghanaian president nominates economist as governor
Ernest Addison is a lead regional economist at the African Development Bank
Ghanaian governor resigns after one year in office
Recent IMF staff report praises the central bank, but says Ghana faces challenges
Bank of Ghana starts to unwind tight monetary policy
Central bank slashes interest rates to 23.5% in largest cut since 2010; inflation shows signs of improvement but certain risks still loom over prices