Blame “greedy” banks for expensive credit - Fiifi Kwetey

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Georgie 12 years ago

When the economy is on sound footing lending rates will come down without prompting. Is getting the dollar not a problem? It tells you where we are.

When the economy is on sound footing lending rates will come down without prompting. Is getting the dollar not a problem? It tells you where we are.
insight to the bone 12 years ago

why shouldn't we call pepeni a fool as its not an insult but a fact . All these scandals ,tribal ethnic biased anti Akan ministerial appointments non action on worthy projects and action on foolishness and stupid corrupt dea ...
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why shouldn't we call pepeni a fool as its not an insult but a fact . All these scandals ,tribal ethnic biased anti Akan ministerial appointments non action on worthy projects and action on foolishness and stupid corrupt deals. his mentor is kuffuor whose greatest achievement was to give all our gold fields to foreigners who dont invest a single penny in our economy but take out over 10 billion dollars a year . his weak ayigbe national security could not advise him to do what president putin of russia did , nationalise the mines and give it to local corrupt Akans and others , then tax them well. instead we run around trying to borrow this same money and watch as the various superpowers play with us , where is the wisdom in that ? pepeni you a big fool and chronically retarded as you have no shame, integrity , honor or decency yourself . you can only understand indecency and insults as thats what gets registered. instead of going out there to acquire technologies that will create jobs, factories and self reliance for our people you attend useless meetings that bring nothing. you have failed us like all the others before you and we look forward gloomy future because you wont step aside so those with courage knowledge and real projects based on sound macroeconomics take over. commot from there
VOLTA 12 years ago

FORCE THEM OR ELSE THE WILL PULL GHANA DOWN

FORCE THEM OR ELSE THE WILL PULL GHANA DOWN
gyan 12 years ago

not anti akan its anti tribal ashantis

not anti akan its anti tribal ashantis
Ike - London 12 years ago

What is the government and Bank of Ghana doing about it? It is not true that the government can't force the rates down because the banks are private. This was done in the UK during the recession, when the government "forced" ...
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What is the government and Bank of Ghana doing about it? It is not true that the government can't force the rates down because the banks are private. This was done in the UK during the recession, when the government "forced" the banks not to charge above a certain rate for mortgages. The problem we have in Ghana is lack of knowledge and too much talk. Square pegs in round holes.
KingSRB 12 years ago

Financial Services Regulator should not be under a political structure but work independently with professional staff working objectively for all stakeholders. This would ensure the FSR is stable and has credibility investor ...
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Financial Services Regulator should not be under a political structure but work independently with professional staff working objectively for all stakeholders. This would ensure the FSR is stable and has credibility investors can relay on when dealing with the finance industry.
VOLTA 12 years ago

ONLY FORCE CAN MAKE THEM CHANGE THEIR MIND

ONLY FORCE CAN MAKE THEM CHANGE THEIR MIND
kk 12 years ago

We already have the Financial Services Regulator in the Central Bank - Bank of Ghana. I believe every Ghanaian will remember when the Banks were chasing us to our homes and offices begging us to come for personal loans to buy ...
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We already have the Financial Services Regulator in the Central Bank - Bank of Ghana. I believe every Ghanaian will remember when the Banks were chasing us to our homes and offices begging us to come for personal loans to buy cars, fridges , homes etc, during Kufours time. Nobody forced them to reduce their lending rates. When they have so much of depositors monies starched in their vaults, they automatically seek out avenues for investing that money, so they reduce rates and give out loans. However, if the Banks find the Treasury Bill rates so lucrative as they are now, they prefer buying treasury bills because there are no risks associated with ttreasury bills as compared to lending to the Private sector. Government who issues treasury bills as a tool for borrowing from the public therefore is the problem. This NDC government is borrowing from left and right as if there is no tomorrow, both from the domestic market as well as the foreign market, hence crowding out the private sector. That is making the cost of borrowing too high for the private sector. Fiifi Kwetey Should understand that, if the government reduces the level of borrowing and sustains a favourable economic climate, the Banks will have no option but to reduce their lending rates and increase credit to the private sector. I hear he gets on the plane every now and again to go to school in UK. He should learn his lessons well and stop practicing his classroom assignments on Ghana's economy. I wish our "Nyebros" will see what this student and his cohorts are doing to this economy. Destroying our beautiful Ghana, and come to their senses.
Koforidua Flowers (fr) 12 years ago

DOES THE GOVERNMENT HAVE CONTROL OVER SUCH 'GREEDY'BANKS? IF THE MEAT HAD BEEN EATEN TO THE BONES WHY DO YOU BLAME THE BANKS TO DEAL LINIENTLY WITH ITS CUSTOMERS.INCAPABLE GOVT WITH INEXPERIENCE WING COMMANDERS. REALY GHANAIA ...
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DOES THE GOVERNMENT HAVE CONTROL OVER SUCH 'GREEDY'BANKS? IF THE MEAT HAD BEEN EATEN TO THE BONES WHY DO YOU BLAME THE BANKS TO DEAL LINIENTLY WITH ITS CUSTOMERS.INCAPABLE GOVT WITH INEXPERIENCE WING COMMANDERS. REALY GHANAIANS HAVE PROBLEMS FOR THE YEARS AHEAD UNDER MAHAMA LED ndc.USELESS TALKS FROM UNSCRUPULOUS fIFFI kWETTEY.
Kwasi Asante, Providence,RI USA 12 years ago

The Cedi has been on free fall. Therefore business cannot operate by long term plans. The Banks has to rely on short term acquisitions.
The Central Bank of Ghana has to set rate margins for the banking institutions which bor ...
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The Cedi has been on free fall. Therefore business cannot operate by long term plans. The Banks has to rely on short term acquisitions.
The Central Bank of Ghana has to set rate margins for the banking institutions which borrows US dollar thorough Bank of Ghana. If Bank of Ghana sells Bonds or the US dollar at 9%, the margins should be set between 10% - 15%. Bank of Ghana has to regulate rates for the Banks to discourage Banks greed.

It is obvious to me that the Leaders of Ghana are incompetent. Period.

Ada Boy 12 years ago

Mr Kwetey has little understanding of the finance and economics. Our government is responsible and should be blamed squarely for high rates charged by the banks here. Ghana's credit rating is close to a junk bond status and h ...
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Mr Kwetey has little understanding of the finance and economics. Our government is responsible and should be blamed squarely for high rates charged by the banks here. Ghana's credit rating is close to a junk bond status and he blaming banks? As long as budget deficit stays high with little hope of correcting it,Ghanaians will continue to endure high interest charges.Mr Kwetey should know that banks borrow from the general public through deposits and the rest from money markets elsewhere.Our banks have to compete to secure funds at high end cost due primaily to our poor credit record.He should pick up the phone and check what banks in Singapore,Taiwan,America,Australia, Germany etc pay for their funds. Ghanaians paying the price for bad economic management over decades.Ghanaians will enjoy lower rates only when government reign the reckless spending, cut the budget deficit and repair our horrible sovereign credit rating.
Kwasi 12 years ago

Is it not the high Inflations that is helping the Banks to increase their lending rate? you see how fools you and Mahama's are? idiots.

Is it not the high Inflations that is helping the Banks to increase their lending rate? you see how fools you and Mahama's are? idiots.
Solja 12 years ago

i thought the banks were controlled by a bigger bank? or?

i thought the banks were controlled by a bigger bank? or?
believe 12 years ago

SO YOUR GOVERNMENT DON'T EVEN KNOWS WHO CONTROLS THE BANKS? ASK ASIEDU NKATIA AND MAHAMA .THE EUROPEANS ARE ASKING UR WHOLE GOVERNMENT TO RESIGN.

SO YOUR GOVERNMENT DON'T EVEN KNOWS WHO CONTROLS THE BANKS? ASK ASIEDU NKATIA AND MAHAMA .THE EUROPEANS ARE ASKING UR WHOLE GOVERNMENT TO RESIGN.
Jade 12 years ago

Clueless NDC has to resort to bully. You wished NDC was a military govt to kill lawyers and bankers but that would not solve problem.

Clueless NDC has to resort to bully. You wished NDC was a military govt to kill lawyers and bankers but that would not solve problem.
Jade 12 years ago

All these JJ-Mills-Mahama created monsters are on economic and financial training but there are no competent teachers around to help them. They don't know how to speak in public.

All these JJ-Mills-Mahama created monsters are on economic and financial training but there are no competent teachers around to help them. They don't know how to speak in public.
Mahomet 12 years ago

Politics aside Ghana banks are greedy. Else they will not be declaring gargantuan profits in the midst of such high rates. Hopefully "a" government will come that will sideline them and source money from lower-interest source ...
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Politics aside Ghana banks are greedy. Else they will not be declaring gargantuan profits in the midst of such high rates. Hopefully "a" government will come that will sideline them and source money from lower-interest sources abroad.
GOWAN 12 years ago

When an incompetent and manifestly inept team is at the helm of affairs and presiding over the economy of Ghana, this is exactly what happens. Fifi Fiavi Kwetey who at a point in time was at the MOFEP as a dep. minister but h ...
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When an incompetent and manifestly inept team is at the helm of affairs and presiding over the economy of Ghana, this is exactly what happens. Fifi Fiavi Kwetey who at a point in time was at the MOFEP as a dep. minister but had no experience in managing even a simple kiosk, was parachuted to the MOFEP, and the economic situation of the country has never been the same coupled with the thievery and looting, compared to the 8 years the NPP was in power and the facts speak for themselves. When you put in the wrong materials, there's no way under the sun that you would get correct and right products. Palmer Buckle and IDEG put it better, when they were postulating that, the gov't needed to consult, that the gov't needed to source other ideas, to help transform and shape the economy and by extension the country. The economists should deal with Fiavi and pump some needed sense and education into his coconut, because he's leaking badly, completely brain dead.
pp 12 years ago

pp

pp
Alex Kojo Sammy-Paris 12 years ago

Honestly the econome Ghana dose not permet never...in a rate intrest up to 5 percent even, in the credit bases....in down-town Ghana!...eme na owo yinaa yim wo ponakyir ho....the banks in general....Ghana! nd, u must immedia ...
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Honestly the econome Ghana dose not permet never...in a rate intrest up to 5 percent even, in the credit bases....in down-town Ghana!...eme na owo yinaa yim wo ponakyir ho....the banks in general....Ghana! nd, u must immediatly change to be a new leaf...all banks in dow-town gaana! in great Jesus's name with Amen!...Ogyamanase yi speaking nd babye from now with the blessing from God to u all oman Ghana nd forward-ever...

Pelicles 12 years ago

The best NDC can do is to blame all but their incompetency. They will tell us that all the bank managers are all NPP supporters and as such they are hell bent on destroying the economy to make NDC look bad.

Such is an excu ...
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The best NDC can do is to blame all but their incompetency. They will tell us that all the bank managers are all NPP supporters and as such they are hell bent on destroying the economy to make NDC look bad.

Such is an excuse of someone who is absolutely clueless about what he/she is doing. This is the only government which has been in power for sometime now, yet find it conveniently to blame NPP for anything those goes on under their very nose.
Adongo Tongo 12 years ago

It's a simple law of supply and demand. Government borrowing also impacts rates.
Reduce the pressures on the rates by reducing government borrowing. Government is also responsible.

It's a simple law of supply and demand. Government borrowing also impacts rates.
Reduce the pressures on the rates by reducing government borrowing. Government is also responsible.
Woman's wisdom 12 years ago

NDC is riddled with incompetent greedy bastards. Fiifi Kwetey is one of them and now he finds faults with the banks. If you sort to borrowing as your priority instead of focusing on your Grand Domestic Products, you stand the ...
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NDC is riddled with incompetent greedy bastards. Fiifi Kwetey is one of them and now he finds faults with the banks. If you sort to borrowing as your priority instead of focusing on your Grand Domestic Products, you stand the chance to fall while the economy becomes gripped with shashe. Mills-Mahama leadership is a disgrace and must be burned to ashes in Ghana's history.
peace 12 years ago

NDC COMPLAIN AGAIN

NDC COMPLAIN AGAIN
GHFUO, change ur thinking 12 years ago

BANK OF GH MUST SET THE INTEREST RATES FOR ALL FINANCIAL INSTITUTIONS IN THE COUNTRY TO GO BY

BANK OF GH MUST SET THE INTEREST RATES FOR ALL FINANCIAL INSTITUTIONS IN THE COUNTRY TO GO BY
NA 12 years ago

Forgive him for he did not think or is incapable of thinking. He should have consulted SSS economics students --- any of them with a failing grade could have taught him better.

Forgive him for he did not think or is incapable of thinking. He should have consulted SSS economics students --- any of them with a failing grade could have taught him better.
jersey boy 12 years ago

is govt. not the largest shareholder of Ghana commercail and agric. devt bank.
if the govt really cares about lending rates falling why not start with GCB and ADB. I BET YOU FIIFI KNOWS THE GOVT APPIONTEES ON THE BOARD OF G ...
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is govt. not the largest shareholder of Ghana commercail and agric. devt bank.
if the govt really cares about lending rates falling why not start with GCB and ADB. I BET YOU FIIFI KNOWS THE GOVT APPIONTEES ON THE BOARD OF GCB AND ADB.
SIR FIIFI, START YOUR REFORMS WITH THE BANKS WHOSE SHARES THE GOVT OWN THE MAJORITY. YOU KNOW THEM. OTHERWISE STOP THE NEEDLESS NOISE AND CONCENTRATE ON DECONGESTING AFLAO. SOLVING THE MESS AND CREATING DEVT. FOR AFLAO.
Robin Hood 12 years ago

Can someone please educated and many others what this loud- mouth's portfolio is.He seems to want everyone to know that he is alive without explains to us what he actually does in government.Is he not a waste is space ?

Can someone please educated and many others what this loud- mouth's portfolio is.He seems to want everyone to know that he is alive without explains to us what he actually does in government.Is he not a waste is space ?
Yamo 12 years ago

It is very correct to point the finger at the banks for high interest. But this finger also needs to be pointed at the government. It is up to the government to regulate the banking industry as to interest rates. It is the ...
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It is very correct to point the finger at the banks for high interest. But this finger also needs to be pointed at the government. It is up to the government to regulate the banking industry as to interest rates. It is the governments responsibility to protect the economy and the ability of the working class to improve their living conditions, education, etc. All of this is due through the ability to borrow from banks with a rate that is affordable. Shame on the greedy banks, but also on the government for allowing them to rip off the hard working Ghanaian.
Frimpong Manso Dakabre 12 years ago

What regulations did you put in place to check this situation?

What regulations did you put in place to check this situation?

KK 12 years ago

Wise words and analysis from smart guy. Until the banks are under reasonable control, Ghana will not make any good progress. The banks are greedy and B of G should check them now.

Wise words and analysis from smart guy. Until the banks are under reasonable control, Ghana will not make any good progress. The banks are greedy and B of G should check them now.
Egya Blay 12 years ago

This is absolutely nonsense. Why don't you regulate them? A failed country indeed!

This is absolutely nonsense. Why don't you regulate them? A failed country indeed!
joe 12 years ago

what are you doing at ghana commercial bank.resign now.

what are you doing at ghana commercial bank.resign now.

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Blame “greedy” banks for expensive credit - Fiifi Kwetey

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