Playback: PM Express discusses high interest rate and banking sector fraud

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Tonight on JoyNews, PM Express Business Edition took a close look at interest rate in the country and banking sector fraud.

This follows the Bank of Ghana's revelation that interest rates have assumed a downward spree for short-dated instruments, since the beginning of the year.

Real interest rates tipped in June due to the marginal uptick in inflation from 7.5% in May to 7.8% in April.

Also, the Bank of Ghana has revealed that total value of reported fraud cases in the banking industry witnessed substantial increase.

The losses incurred as a result of fraud for 2020, stood at GH¢25.40 million, as compared to an estimated loss of GH¢33.44 million in 2019, representing a 24.0% decrease.

Host, George Wiafe interacted with Chief Executive Officer (CEO) of Ghana Association of Bankers, John Awuah to discuss the challenges and the way forward following assurance from the President to do more to resolve the problems.

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Tags:

Bank of Ghana

Banking sector fraud

Ghana Association of Bankers

Interest rate

John Awuah