The Bank of Ghana must come to some agreement with the various commercial banks so that they put a three-month moratorium on all loan repayments as the country battles COVID-19, former President John Mahama has suggested.
Ghana has, so far, recorded eight deaths from the six hundred and thirty-six cases confirmed in the country.
At a ceremony to present rice, oil and canned fish to the Ga Traditional Council, the Tema Traditional Council, the Kpone Traditional Council, the Awutu Senya Traditional Council, the Asanteman Council, the Council of Zongo Chiefs in both Accra and Kumasi and the umbrella bodies of faith-based organisations and people living with disability, for onward distribution to some twenty thousand households in the locked-down areas of Accra, Tema, Kumasi and Kasoa, the flag bearer of the NDC said though the government has instituted several measures to lessen the economic burden on Ghanaians as a result of the lockdown, it was important for the Bank of Ghana to sit with the various banks to offer customers some reprieve.
“A further measure, which would go a long way to cushion SMEs and individual Ghanaian families, would be for the Bank of Ghana to open a dialogue with the banks and financial institutions to offer a 3-month moratorium on payment of debts to borrowers”, the former President proposed.
“I understand one bank has already voluntarily announced such a concession.
“This will be helpful at a time many Ghanaian businesses are shut and breadwinners of families have had to stay at home and cannot earn an income”, he added.
Republic Bank Ghana was the first bank to give a six-month loan repayment holiday to its customers when the virus broke out in Ghana. A few banks followed suit with other packages.
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What does this CORRUPT man called Mahama know about banking?
I am NPP through and through, but i think people should read before commenting or attacking. Former President calling on BoG to direct all banks to suspend loan repayments for at least 3 months is a call in the right direction that will help many people. Please let's all praise worthy suggestions irrespective of our political affiliations. Thank you.
After reading the 1st five comments, i realized Ghana is a hopeless state. Herrr everything is about NDC, NPP...Whaaat! Just read the story again vis-a-vis your comments... What a shame.
Dear Mahama would you be quiet for us to have peace. Your benevolent attitude nearly collapsed the financial sector when you were a presido.
Mahama is totally confused and does not know what to say. Remember the banks are private and you cannot force them. Remember the banks also have their problems. He will be finished the day we will know who is government official 1 in the Airbus bribery scandal.
I pity this man. His manifesto team are now writing the NDC manifesto. They take advantage of the situation to write their manifesto.Mahama ask BOG to give three month suspension of loan repayment. What he does notknow is that most banks as humaine as they are have already implementing that. So he can add this to his manifesto.
I think it is about time Mr. Mahama keeps quiet. The bank of Ghana and the banks know how to handle this. No one can force the bank to do that. Even countries reporting over 100,000 have not made such policy .. leave the banks alone, they have their own crises alleviation measures for the customers. Besides we have not heard any bank hunting for repayment in this hard times... please
TIO who went quiet during the airbus scandal has suddenly found his voice with the COVID 19 pandemic and is repeating what the govt is already doing, to score political points. There are still outstanding issues on the airbus saga, can you please address them now that you have found your voice