President Akufo Addo directs BoG to weed out unlicensed financial institutions

| Updated Aug 18, 2017 at 3:00pm



President Akufo Addo has charged the Bank of Ghana to weed out unlicensed financial institutions to engender confidence in the banking sector.

He said the bank's recent intervention in UT and Capital Bank demonstrates the preparedness of the Central Bank to act responsibly.

Speaking at the 60th Anniversary Lecture and Exhibition of the Bank of Ghana, President Akufo Addo, urged the Central Bank to commit itself to the road map in addressing the banking sector weaknesses.

He asked the Central Bank to roll out polices that will create an enabling environment for rapid transformation of the economy.

He said government will make sure that fiscal deficit will remain within three to five percent by 2018.

He said government will vigorously pursue policies that will bring down the cost of borrowing.