The Ghana Association of Banks (GAB) has rejected media reports suggesting that banks in the country are currently at risk of insolvency due to the Domestic Debt Exchange programme (DDE).
GAB says such reportage is untrue and published with malicious intentions.
In a press statement issued on Saturday, March 25, the Association urged the public to disregard same.

“Our attention has been drawn to media publication by The Africa Report on the subject matter above.
“We wish to draw the attention of the general public that the report is not only false in its entirety, it is malicious and published without any factual foundation,” excerpts of the statement said.
The statement noted that rather, banks have proved fairly resilient after the exercise.
“While participating in the Domestic Debt Exchange (DDE) by the banking industry in the national interest resulted in impairment losses on banks’ holding of Government of Ghana bonds, as indicated in the recent Bank of Ghana (BoG) MPC report, the banking industry is fairly resilient.”
According to the Ghana Association of Banks, the banks have continued to grow their costumer base amidst the programme.
It is important to note that the core business of banks remains strong, they have continued to grow their customer base and expand their services during this period of the DDE.
The banking industry as a whole has robust risk management and contingency planning framework which have made it possible to navigate the current economic environment and maintain financial stability and viability.
Latest Stories
-
Trump ambushes S African leader with claim of Afrikaners being ‘persecuted’
11 minutes -
Judge says US deportations to South Sudan violate court order
27 minutes -
US accepts gifted Qatari plane to join Air Force One fleet
39 minutes -
Tottenham beat Man Utd to win Europa League & end 17-year wait for trophy
40 minutes -
Clear and strong climate policies are antidote to economic uncertainty – UN Climate Chief
1 hour -
Journalism has become politicised and cheap – KSM laments
1 hour -
Climate Education reaches differently-abled children at Garden City Special School
1 hour -
Mahama’s remarks on Cedi vindicate NPP’s economic legacy – Minority
1 hour -
I lied about having radio experience to get hired – KSM
1 hour -
NLC direct University Senior Staff Association to call off strike
1 hour -
Shelters in crisis: Calls grow for gov’t support as caregivers struggle to protect vulnerable children
2 hours -
Black Sherif set for electrifying performance on COLORSxSTUDIOS on May 22
2 hours -
Ghana Card blocks prison graduates from National Service – Inmates appeal to Parliament to intervene
2 hours -
Richard Ndignan: United States of Africa – A call for continental rebirth and unity
2 hours -
Hoefman Laboratories boosts maternal care at Ridge Hospital with equipment donation
2 hours