Good businesses with viable projects will not be affected by banks’ decision to reduce lending – Dr Andani

A former President of the Ghana Association of Banks, Dr. Alhassan Andani, has said the decision by banks to reduce lending due to the current economic status will not affect projects that have good standing.

According to him, the potential of the project will be assessed and rated and that will determine whether or not it needs to be continued.

Speaking on JoyNews he said: “We should understand that good businesses with viable projects will not be affected by this decision by banks to be more careful with their lending decisions. If a bank knows that the business has solid internal processes and systems, then that commercial will find the money to support such enterprises.”

Dr Andani further noted that post-DDEP, commercial banks are moving to make decisions on investment and how much of government business they want to engage in.

He said that even though there have been some signs of stability in the exchange rate in recent times, there is still more to be done for Ghana to witness full recovery.

The former banker also called on the government to embark on fiscal consolidation measures in order to help the economy’s restoration.

“We have witnessed stability in some of the areas like currency. However, a lot more still needs to be done to stabilize the situation. Looking at the current state of the economy, we need to take more drastic measures to help restore confidence in the economy,” Dr. Andani added.

SSD/NOQ

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