The Danquah Institute has commended the Bank of Ghana for the intervention that allowed GCB to takeover distressed UT and Capital Bank.
A statement signed by the executive director of the institute, Dr. Kingsley Nyarko noted that the timeous rescue of the banks define the competence of those at the helm of affairs at the central bank and underscores the commitment of the government in protecting jobs nd employees from the unpleasant outcome of job losses.
”As we commend the government or this timely and necessary intervention, we would like to also emphasize that she can do more to ensure that the financial sector operates in an environment of economic stability”, the statement said.
The statement encouraged government to work assiduously to achieve a sustainable macroeconomic outlook that will further boost investor confidence, encourage the private sector to invest in critical sectors of the economy to create more jobs for the masses especially the youth.
It noted that an expansion of the economy with the creation of more jobs, pries of goods and services coming down, inflation reducing: disposal income of the people could further help business to grow, thereby creating more jobs for socioeconomic development.
”This will also enable the banks to lend to businesses and other customers at reasonable rates, lowering their risks of bad debt”, the statement said.
Source: otecfmghana.com
