Tag: Ernest Addison
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BoG Act needs clarity, improvement for easy implementation – Governor
Dr Ernest Addison, the Governor of the Bank of Ghana, says there is a need to improve the Bank’s (Amendment) Act, 2016 (Act 918) to make it clearer for implementation. He said looking at the current Act, there were still inconsistencies and difficulties with implementation albeit efforts to improve it in 2016. The Governor was…
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No bank wanted to acquire toxic UT Bank — BoG
The Governor of the Bank of Ghana Dr. Ernest Addison has stated that before the central bank revoked the license of UT Bank, it was unsuccessful in getting a local bank to take over the reins of the Prince Amoabeng founded bank. According to him, the books of the bank were so bad that even…
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No witch hunt against UT, Capital banks – Addison
The Governor of the Bank of Ghana, Dr Ernest Addison has refuted suggestions that the collapse of both UT Bank and Capital Bank was a deliberate witch-hunt by the BoG. He says both banks were underperforming; hence the revocation of their licenses. According to the BoG boss, prior to the revocation, both parties showed an…
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BoG Governor Dr. Addison appointed IMF/World Bank Board Chair
The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has been selected to represent Ghana to Chair the Board of Governors of the Bretton Woods Institutions in 2020. A statement from the central bank explained that the selection of Ghana was done in recognition of the country’s impressive strides in macroeconomic stability achieved…
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BoG keeps policy rate at 17%
The Bank of Ghana has maintained the policy rate at 17%. The decision was arrived at after the central bank’s Monetary Policy Committee meeting on Monday, July 23, 2018. This is the first time the rate has been maintained after it was reduced by 300 basis points early this year. In March, the policy rate…