Tag Archives: BOG

The Bank of Ghana has sounded a strong warning to forex bureaus operating in the country, that any breach of the regulations under which they work will result in their closure or severe sanctions against them. The move is to stop all deliberate market practices that are fuelling the cedi’s fast depreciation, …

The NDC minority caucus in parliament has cautioned the Bank of Ghana(BOG) to yield to Parliamentary oversight in its dealings, particularly in relation to money printing to finance government spending. A statement issued by the minority leader, Haruna Iddrisu on Friday, August 19, 2022 said the fiscal dominance regime the …

A report by the Bank of Ghana (BoG) has found GH¢116 million in untraceable assets from failed microfinance and savings and loans in Ghana. The report states that 100 properties have been sent to the Economic and Organized Crime Office (EOCO) for investigation to determine their ownership status by the BoG through …

A new report published by the Bank of Ghana has revealed further details regarding the resolved microfinance companies and savings and loans institutions, with new information indicating most of these companies diverted funds into other ventures – thereby leading to their insolvency. In a collaborative effort by the Joint Receivers, Bank of Ghana and …

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has, at an emergency meeting held on Wednesday August 17, increased the Policy rate from 19 to 22 per cent. Governor of the BoG Dr Ernest Addison said recent developments in the foreign exchange market showed elevated demand pressures, reflecting among …

The Bank of Ghana (BoG) has called for calm as it has introduced measures to resolve the fall of the Cedi against the major trading currencies especially the Dollar. The central bank has identified five key reasons for the woes of the local currency. These are “The strength of the …

To help shore up the foreign exchange reserves of the Bank of Ghana, starting September 1st, the Bank of Ghana will purchase gold from gold mining companies in the country at world market prices but payment will be made in cedis. This was the agreement between the Economic Management Team, …

The Bank of Ghana has responded to allegations indicating it has printed an amount of GH¢22.04 billion to finance government’s budget without parliamentary approval. The assertion was made by the Deputy Ranking Member of Parliament’s Finance Committee, Dr. Cassiel Ato Forson when he addressed journalists outside the House on July 25. But the central …

The Bank of Ghana (BoG) has maintained the policy rate at 19%. Addressing the media on Monday, July 25, 2022, after the Monetary Policy Meeting, the Governor, Ernest Addison disclosed that one of the reasons for maintaining the rate among other things has to do with how inflation has persisted …

Banks have been directed to allow non-resident Ghanaians who have not yet registered for their Ghana Cards to use their passports for bank transactions till they obtain the cards. The Bank of Ghana served notice that effective July 1, 2022, the only acceptable ID for bank transactions will be the Ghana Card …