Finance Minister Ken Ofori-Atta has said that the banking reforms undertaken by the central bank will support the creation of more jobs.
Presenting the mid-year budget review in Parliament today, Mr. Ofori-Atta said the reforms have created more resilient banks that can support the economy and businesses and thus the creation of more jobs.
The central bank’s reforms which commenced two years ago led to the collapse of nine indigenous banks. Mr. Ofori-Atta stated that the presence of the weak banks presented grave risks to the banking sector and the clean up will pave way for stronger banks to remain to support the economy.
Ultimately, he stated, these reforms will turn out good for the economy.