Policymakers might see this as an attractive “quick fix” for the crisis, but it is anything but a sustainable configuration for a monetary union. In fact, it provides an additional incentive for member states to run up debt without providing any effective control instruments. So anyone can get into debt at someone else’s expense. As I just mentioned, only two options are sustainable.
I will express our appreciation to the lending institutions, Ghana Bar Association, the Judiciary and other state agencies and stakeholders for their support in this effort to upgrade Ghana Collateral Registry to an International Secured Transactions Registry.