On this basis, it is expected that the global, and indeed, the domestic outlook will be challenging with a longer recovery process. 37. Domestically, the Bank of Ghana, in collaboration with the Fiscal  authorities, responded decisively to ensure easing credit conditions and liquidity within the financial sector to stimulate economic activity.
Bank of Ghana’s action to trigger emergency financing support for  2 Jordi et al. (2020) 3 The relative demand and supply of loanable funds by savers and borrowers determine the natural rate in the long-run. 34 | P a g e  the government was largely enabled by the policy space and gains achieved over three years of strong monetary policy reforms.