Prime News Ghana

Today's Ghana Business, Banking and Economic news

Gov't writes off half of GH¢77 billion owed to Bank of Ghana

Ghana’s government has written off half of the 77.6 billion cedis ($7 billion) it owed to the central bank and replaced the remainder with a lower yielding, 15-year bond, three sources with direct knowledge of the transaction told Reuters.

BoG reiterates commitment to flexible FX regime

The Bank of Ghana (BoG) remains committed to maintaining a managed floating exchange rate regime with minimal interventions by the central bank, its Governor Dr. Ernest Addison has said – noting that it represents the most ideal framework for the domestic economy’s growth and stability needs at this stage of its development.

BoG raises policy rate to 30%

The Monetary Policy Committee of the Bank of Ghana on Monday increased the policy rate by 50 basis points to 30 per cent, citing risks to inflation.  

Ghana set to hold rates on inflation expectations, budget

Ghana’s central bank is poised to look past a recent quickening in inflation and keep interest rates on hold on expectations that it’s likely to be short-lived, a pause that would give policymakers time to evaluate the impact of Finance Minister Ken Ofori-Atta’s mid-tern budget review.