Ernest Addison

BoG Governor Addison Asks Banks To Innovate And Be Creative In Conducting Business
07 Aug

BoG Governor Addison Asks Banks To Innovate And Be Creative In Conducting Business

wontumionlineBusiness, ,
Governor of the Bank of Ghana (BoG) Dr Ernest Addison has asked banks and other financial institutions to innovate and be creative in the conduct of business. He says this will enable the banks to grasp the ongoing adjustments in the Ghanaian economy. He stated that the Domestic Debt Exchange Programme (DDEP) affected the profitability and solvency of banks in 2022, but the performance of banks during the first half of 2023 looks promising. “The Bank of Ghana has also granted some temporary regulatory reliefs to dampen the impact of the debt restructuring and these, together with the expected operationalization…
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Exports Hit US$2.8bn In First 2 Months Of 2023
28 Mar

Exports Hit US$2.8bn In First 2 Months Of 2023

wontumionlineBusiness,
The Bank of Ghana has said despite the mixed performance in the prices of Ghana’s major commodities, the trade balance improved in the first two months of 2023 mainly on the back of higher export volumes. “In the first two months, total exports expanded by 11.2 per cent year-on-year to US$2.8 billion, driven mainly by higher gold, cocoa, and other export receipts”, Governor Ernest Addison said in a statement at the central bank’s recent Monetary Policy Committee meeting. The value of gold exports amounted to US$1.1 billion, representing an increase of 35.8 per cent, driven mainly by a 38.5 per cent increase in export…
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BoG Funded Govt To Save Economy – Addison
13 Feb

BoG Funded Govt To Save Economy – Addison

wontumionlineBusiness,
Ernest Addison, the Governor of the Bank of Ghana (BoG), has defended the central bank’s decision to finance government’s expenditure last year. According to Dr. Addison, Ghana’s economy would have destabilised had the BoG not intervened. “We need to remember where we are coming from at the beginning of 2022 when we lost access to the capital market,” said Dr. Addison at the SIGA annual stakeholder meeting in Kwahu Abetifi. “This is a government that had access to the capital market for at least $3 billion each year, but we started 2022 with the downgrading of the economy and, therefore,…
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