11
Aug
In a strategic move to safeguard the economy’s stability, the Bank of Ghana (BoG) stepped in as a loss absorber during the recent domestic debt exchange programme (DDEP), absorbing substantial impairment losses. This proactive measure ensured the country’s qualification for the IMF programme, even as it faced challenges stemming from the quantitative easing programme during the peak of COVID-19 pandemic and interest rate changes. However, concerns remain as the central bank strategises to restore its balance sheet and reinforce credibility while maintaining its commitment to policy solvency. Serving as a safety net during the DDEP, the Bank of Ghana tactically absorbed major haircut losses…