Prime News Ghana

BoG to hold crunch meeting today over Covid-19's impact

By Justice Kofi Bimpeh
Bank of Ghana
Bank of Ghana

The Monetary Policy Committee of the Bank of Ghana, BoG is expected to begin a crunch meeting from today, March 18 to review developments in the country.

Top on the agenda of the meeting is to come up with interventions to reduce the impact of the Covid-19 on the economy and the banking sector.

Bank of Ghana in an earlier communication noted that the measures will be aimed at mitigating the impact of Covid-19 on the financial sector and the Ghanaian economy.

They are views that the Bank of Ghana may look at a policy rate cut from the current 16% to help increase growth in the economy

The meeting will also be expected to explore other monetary measures that will ensure business confidence and growth are not affected by the Covid-19.

READ ALSO : BoG maintains policy rate at 16% for the sixth time

The Monetary Policy Committee of the Bank of Ghana is also expected to end their meeting on Friday and announce their interventions on Monday.

More foreigners denied entry into Ghana over Covid-19

Travellers from ten different countries seeking to enter Ghana were turned away yesterday at the Kotoka International Airport.

The action of the airport authorities is in line with the government's travel advisory issued on Sunday banning travels from epic centres of Covid-19.

The directive became necessary after all cases recorded in Ghana were imported from foreign countries.

The travel advisory strongly discourages all travels until further notice.

"All travels at this stage is strongly discouraged until further notice, second any traveller except for Ghanaian citizens and persons with Ghana resident permit who within the last 14 days have been to a country that has recorded at least 200 cases of Covid-19 will not be permitted into the Ghanaian jurisdiction. Airlines are instructed not to allow such persons to embark on any trip, border posts are not to allow such people into the jurisdiction."