Afede: High interest rates destroying industries

Read Comments Comments (7)

• Plain! plain!! 11 years ago

  Not only the high interest rates that is a concern but also erratic power supply. The two have combined to bring SME's on their knees. Simply put the NDC which Afede himself supports is a useless and good for nothing party.

  Not only the high interest rates that is a concern but also erratic power supply. The two have combined to bring SME's on their knees. Simply put the NDC which Afede himself supports is a useless and good for nothing party.

  reply
• Dr Robert K Glah 11 years ago

  Interest rate solution
  The high interest rate problems following the 2008 global financial crisis was dealt with by the Central Banks of US, the UK, China and the ECB by compelling the banks to reduce their rates whilst the ...
  read full comment

  Interest rate solution
  The high interest rate problems following the 2008 global financial crisis was dealt with by the Central Banks of US, the UK, China and the ECB by compelling the banks to reduce their rates whilst the Central Banks reduced their base rate to below 1%.
  
  Ghana could do the same by urging BoG to reduce the base rate to below 1%. This will compel the banks to reduce their lending rates to industry below 4%.
  
  BoG needs resources to do that.
  BoG could induce the banks by guaranteeing the banks and urge them to avoid risky portfolios and encourage them to do short term Treasury Bills business with BoG.

  reply
• KOGYAM 11 years ago

  THAT IS THE STOCK I TRADE OF NDC PARTY. ANYTHING THEY TOUCH TURNS INTO DUST. IT HAPPENED IN 1997-2000 BEFORE THEY WERE BOOTED OUT INTEREST RATE WENT TO 45%. NOW THEY ARE IN POWER AGAIN INTEREST RATES HAVE SHOT UP HIGH ROCKETI ...
  read full comment

  THAT IS THE STOCK I TRADE OF NDC PARTY. ANYTHING THEY TOUCH TURNS INTO DUST. IT HAPPENED IN 1997-2000 BEFORE THEY WERE BOOTED OUT INTEREST RATE WENT TO 45%. NOW THEY ARE IN POWER AGAIN INTEREST RATES HAVE SHOT UP HIGH ROCKETING.

  reply
• KA 11 years ago

  People do not save in Ghana because of past policies taken by governments. Deposits and bond holders were wiped away overnight because of devaluation of currency, without corresponding adjustments to people's savings. Once bi ...
  read full comment

  People do not save in Ghana because of past policies taken by governments. Deposits and bond holders were wiped away overnight because of devaluation of currency, without corresponding adjustments to people's savings. Once bitten, twice shy!!!.

  reply
• Asem 11 years ago

  Listen to another inward looking bastard.

  Listen to another inward looking bastard.

  reply
• GHANA BA 11 years ago

  SAVINGS = Disposable Income less Actual living expenditure. Where disposable income is low and even lower than the living expenditure, then, there will be no savings. when Government Treasury bill rate is above 26%, banks wil ...
  read full comment

  SAVINGS = Disposable Income less Actual living expenditure. Where disposable income is low and even lower than the living expenditure, then, there will be no savings. when Government Treasury bill rate is above 26%, banks will take deposits at 26%+premium. To make profit the bank must charge a rate to cover all the interest cost and some left to pay for operating expenses. The profits made by the banks do not come from interest but rather other services they charge commission on. WAKE UP AND LEARN. IT WILL NOT HURT YOU

  reply
• Ashootings 11 years ago

  High interest rates in Ghana is a good sign of poor economic management in a world where low interest rates are the prevailing rates in the Western world!!

  High interest rates in Ghana is a good sign of poor economic management in a world where low interest rates are the prevailing rates in the Western world!!

  reply