General News of Wednesday, 17 June 2020Source: Daily MailAkufo-Addo’s govt failure to pay depositors sign of weak economy – AnalystGhana's Finance Minister Ken Ofori AttaA financial analyst, Dr. Amoh Baffour, has decried the inability of the Akufo-Addo administration to pay customers of the defunct microfinance and savings and loans companies. On 1 August 2018, the Bank of Ghana announced the consolidation of the failed local banks, which included the Royal Bank, Beige Bank, Construction Bank, Sovereign Bank, and Unibank. Last year, President Akufo-Addo announced some 15.6bn had been allocated to cater for the frustrated customers’ needs as pressure and threats heightened. “If the government finds it difficult to pay the depositors, it proves one thing: that the economy is not in good shape,” Dr Amoh told the media. “Government cannot print monies to pay the depositors.

Source: GhanaWeb June 17, 2020 12:22 UTC