A Deputy Finance Minister Seth Terkper says government cannot be entirely held responsible for the high volume of non-performing loans (NPLs) found on the books of the country’s banks.The banks have blamed the NPLs which represents defaulted loans as one of the main reasons why interest rates are so high.The government has also been blamed for making it impossible for banks to reduce their interest rates as a result of the amount of money it owes contractors.Government yesterday announced the release of nearly 600 million Ghana cedis to settle its indebtedness to contractors.Mr. Terkper however told Joy Business the problem of high interest rates will persist so long as private individuals who also default on their loans are not dealt with.“The NPL is not entirely government [creation], I think that there is a lot that needs to be done also to make sure that the private sector that borrows from the banks meets their commitment,” he emphasised.Source: Joy Business/Ghana