John Kumah, a deputy finance minister is optimistic that interest rates in the country will in the coming months go down, following a raft of measures being rolled out by the government.
Ghana’s interest rate is currently one of the highest in the sub region making it difficult for businesses to thrive.
Speaking on the Town Hall Talk on Asaase Radio on Friday (14 April), Kumah said reducing interest rates is critical for the survival of businesses.
“At the moment T-Bill rate in January was at about 35%, today it is below 20%, and we are still forcing it down.”
“So that in the end once we tackle inflation and it also comes down, we are now going to see the cost of borrowing coming down within reasonable limits for businesses to have the liquidity to operate,” he said.
Kumah added, “So if you don’t have a solid macro-economic environment, businesses will suffer and we are working to restore a healthy macro-economic environment so that businesses will do well.”
Listen to John Kumah in the attached audio clip below:
Watch the full interview in the attached video clip below:Â
Reporting by Fred Dzakpata in Accra
Asaase Radio 99.5Â broadcasts on radio via 99.5 in Accra, 98.5 in Kumasi, 99.7 in Tamale, 100.3 in Cape Coast and on our affiliates Bawku FM 101.5 in Bawku, Beats FM 99.9 in Bimbilla, Somua FM 89.9 in Gushegu, Stone City 90.7 in Ho, Mining City 89.5 in Tarkwa and Wale FM 106.9 in Walewale
Tune in or log on to broadcasts online: asaaseradio.com, Sound Garden and TuneIn
Follow us on Twitter: @asaaseradio995
Live streaming: facebook.com/asaaseradio99.5. Also on YouTube: Asaase Radio Official.
Join the conversation. Call: 020 000 9951 or 059 415 7777. Or WhatsApp: 020 000 0995.
#AsaaseRadio
#TheVoiceofOurLand
