The Asantehene, Otumfuo Osei Tutu II, has called on the Bank of Ghana to fast-track measures aimed at reducing interest rates, warning that Ghana’s economic recovery will be difficult to sustain without access to affordable credit for local businesses.
During a visit to the central bank’s headquarters in Accra, the Asantehene highlighted the significant impact of monetary policy on everyday life, describing the Bank of Ghana as an institution whose decisions determine “whether we have shelter over our heads, food on the table, and the ability to educate our children and care for our families.”
Addressing Governor Dr. Johnson Asiama, his deputies, and members of the Monetary Policy Committee, Otumfuo Osei Tutu II said, “The challenge I leave with your creative brains is to fashion how you move the economy from the crippling high interest regime to the level where it becomes a stimulant of business and wealth creation.”
While acknowledging recent gains in macroeconomic stability, including signs of currency steadiness, the Asantehene cautioned against complacency. He urged policymakers to focus more deliberately on lowering borrowing costs to stimulate domestic private investment and create jobs.
ALSO READ:
