Business News of Saturday, 1 February 2020Source: www.ghanaweb.comBoG won’t print money to pay depositors of defunct financial institutions - GovernorNew Ghana Cedi notesThe Governor of the Bank of Ghana, Dr. Ernest Addison has served notice that the central bank will not print money to pay up customers of defunct banking and financial institutions who have had their investments locked up due to the financial sector clean-up. But we are not going to pay by printing money as has been suggested; because printing money to do that would not help anybody. So, it is important that we are able to this without resorting to printing money,” he told reporters at a news conference on Friday, January 31. The Governor, however, assured that the receivers of the collapsed financial institutions are working to retrieve the loans advanced by the defunct institutions. According to him, the financial sector clean-up exercise is making the New Patriotic Party (NPP) unpopular, hence, it may have dire consequences on the party in the upcoming 2020 polls.

Source: GhanaWeb February 01, 2020 08:15 UTC