According to the Bank of Ghana, growth in private sector credits slowed down considerably in April this year compared with the same period last year. Dr Attauhene said if there are no credits for the private sector, it could affect the country’s economy. “If you look at the credit in the private sector, we are nowhere near we need to be to have a transformation agenda or to recover in the post-COVID-19. So government would have to reduce the numerous borrowing domestically to enable the banks to free credit to support the private sector. From the beginning of the year to April this year, new loans in advance totaled 10.5 billion cedis compared to 10.9 billion cedis for the same period last year.

Source: GhanaWeb June 01, 2021 15:00 UTC