IMF new Mission Chief meets Governor of BoG

On Wednesday, September 7, 2022, a two-member delegation led by the new IMF Mission Chief for Ghana, Stéphane Roudet, paid a courtesy call on the Governor of the Bank of Ghana, Dr. Ernest Addison, and the Bank’s Management. This follows the appointment of Stéphane Roudet as the new IMF Mission Chief for Ghana, effective September 1, 2022. The new Mission Chief was in Ghana to meet with various government institutions and other key stakeholders in preparation for Ghana’s Fund-supporte...[Read More]

Disclose to Parliament full terms of Afreximbank loan

Former Finance Minister Seth Terkper has asked current Finance Minister Ken Ofori-Atta to reveal the full terms and conditions of the $750 million Afreximbank loan to Parliament. He explained that the Public Finance Management Act requires full disclosures, so the government must comply. His remarks follow the disclosure that Afreximbank withheld approximately $37 million for interest payment obligations, a move that was not part of the agreement approved by Parliament. Mr Terkper told 3Business...[Read More]

BoG has no prosecutorial powers to chase culprits

A financial analyst, Michael Dawson has said that the Bank of Ghana (BoG) cannot be blamed for the inadequate prosecution of persons whose actions and inaction led to the banking failures. He explained that the central bank lacks the prosecutorial authority to pursue these individuals. In his view, the BoG has done its part by cleaning up the sector to ensure a robust banking and financial industry. Prosecution of the culprits is now the duty of the state prosecutors, not the BoG, he said, addin...[Read More]