Editorial: Conditions rife for banks to expand lending

Editorial: Conditions rife for banks to expand lending

Commercial banks have more scope to expand lending since the cedi has appreciated more than 40 percent against the US dollar so far this year, supported by improved reserves which reached US$11.1billion by end-June – equal to 4.8 months of import cover. Also, inflation dropped to 12.1 percent for August from 13.7 percent in June; the lowest in nearly four years. These developments, Bank of Ghana Governor Dr. Johnson P. Asiama noted, create a mor…