Ghana
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
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
Ghana issues banknote with QR code
New ¢5 note with 2D barcode to help educate the public on the numerous security features; bank to celebrate sixtieth birthday in August
Bank of Ghana improves communications strategy
A new 24-hour contact centre will allow queries from members of the public to be answered at all hours; the central bank encourages feedback on its communications
Ghana drafts first electronic payment regulation
New regulation will apply to banks and other financial institutions wanting to provide electronic money services; draft to be passed to parliament after a period of consultation
Parliament keeps door open to monetary financing in Ghana
Parliament approves bill that removes government representative from central bank board, but government would still be able to borrow from central bank to finance deficit; IMF to discuss implications
Measures needed to keep married women in wage sector in Sub-Saharan Africa, paper finds
Working paper examines gender gap in labour markets in Burkina Faso, Ghana, Mauritius, Rwanda and Zambia; finds education opens opportunities, but they can diminish after marriage
Ghanaian deputy becomes new governor
One of two deputy governors of the Bank of Ghana takes over top role; Abdul-Nashiru Issahaku joined bank in July 2013 after working for several international agencies
Ghana governor steps down four months early
Bank of Ghana governor has stepped down over four months early; retirement date due to “long outstanding leave days”, central bank says
Central banks face weight of expectations in sub-Saharan Africa
The art of central banking has changed dramatically in frontier markets. Monetary policy, financial regulation, capital flows and exchange rate are now centre stage, writes Louis Kasekende
West African countries take stock of ‘capacity building project’
The West African Monetary Institute is hiring an external consultant to review the $2 million project, as it works towards establishing second monetary union in region
Ghana requests IMF bailout to bridge fiscal deficit
IMF deputy director will send a team to Accra early next month to initiate discussions; Ghanaian cedi is world's worst performer so far this year
Questions mount over Bank of Ghana's involvement in airlift of $3m football bonus
Experts say central bank must have been aware of $3m government operation that breached forex controls imposed by the bank in February
Bank of Ghana admits monetising government debt
Central bank offers relief as investor flight drives sovereign bond yields to spike; ‘printing money to finance the deficit' will cause inflation and currency depreciation, Fitch warns
Bank of Ghana hikes rates and tightens forex controls in bid to defend currency
Central bank raises interest rates by 200bp to 18% at emergency meeting; follows yesterday's decree that all domestic transactions must be denominated in local cedi
Bank of Ghana brings forward rate decision as falling currency feeds inflation
The central bank's monetary policy committee will meet tomorrow instead of February 19 following further weakening of the cedi; analysts expect rate increase of at least 100 basis points