The Bank of Ghana and the Ghana Financial Stability Fund are taking measures to ensure the stability of the financial sector in the wake of the Domestic Debt Exchange Programme (DDEP).The Bank of Ghana Governor, Dr. Ernest Addison, stated that the two organizations will offer exclusive liquidity arrangements and regulatory tools to mitigate potential risks posed to the banking sector by the DDEP.
With the World Bank pledging $250 million towards the $1 billion target raised for the DDEP, the financial sector remains fairly capitalized.
Dr. Addison affirmed that the banks will be given time to recapitalize if needed and that the financial sector’s integrity will not be compromised.
Total banking sector assets grew by 22.9% to GH₵221 billion and total deposits increased by 30.4% to GH₵157.9 billion as of December 2022.
Meanwhile, credit grew by 30.2% to GH₵70.0 billion, and total investments contracted by 4.8% to GH₵79.2 billion.
Source: norvanreports.com