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This was announced by the Governor of the Bank of Ghana (BG), Mr. Ernest Addison, on Friday, July 19, 2019, at a press conference in Accra.
He addressed the media about the 89th regular meeting of the Monetary Policy Committee of the Central Bank, which opened from Wednesday, July 17, 2019 to Friday, July 19, 2019.
He noted that the outstanding debt of the country rose from 198.4 billion GH ¢ in April 2019 to 200 billion GH ¢ in May 2019.
According to him, the stock of debt was viable.
However, he insisted that "we should not avoid the idea that there is a vulnerability".
Maintained rate
At the same time, he announced that the Bank of Ghana had decided to keep the key rate at 16%, thus revealing increased confidence in the banking sector.
The key rate is the rate that the central bank lends to commercial banks.
More soon…
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