Growth momentum has picked up, the trade account remains in surplus, and there is also relative stability in the exchange rate, despite recent volatilities driven by external developments. 4. Banks are the epicentre of industry and critical for the effective transmission of policy to the real economy.
The Bank of Ghana therefore undertook widespread regulatory reforms to build a strong, safe and sound banking sector to ensure effective financial intermediation for economic growth. Key among the reforms was the increase in the minimum capital requirement of banks to ¢ million from ¢ million.