Stability Fund

10 Oct

Government To Invest $500M As Seed Capital In Ghana Financial Stability Fund

wontumionlineBusinessGAT, GFSF, Stability Fund

Government has announced that it will invest $500 million as seed capital into the Ghana Financial Stability Fund (GFSF) expected to take off before the end of October 2023. This was captured in the Operational Document of the Ghana Financial Stability Fund released by Finance Ministry on October 9, 2023. According to the Finance Ministry, the government will provide financing support to the Fund in line with the resources envisaged by the Extended Credit Facility (ECF) macro-framework baseline, and intends to deploy these resources in phases to address the recapitalization efforts of the financial sector. How will the GFSF be…

11 May

Banking Industry To Face Crisis If Government Fails To Secure $1.5Bn Stability Fund By July – US-Based Economist

wontumionlineBusinessBanks, Dr. Sa-ad Iddrisu, Stability Fund

Economist at Louisiana Economic Development in the USA, Dr. Sa-ad Iddrisu, has revealed a looming banking crisis in Ghana if the government is unable to get the $1.5 billion dollar Stability Fund by July 2023. According to him, if government is not able to get the funds by July this year, some banks will start collapsing since they won’t be able to pay their workers and keep their operations running. He argues, already, some banks have recorded huge losses, therefore the lack of liquidity support from the Stability Fund will leave them with the option to fold up or reduce…