Commercial banks in Ghana to reduce interest rates by 2%

Commercial banks operating in Ghana are expected to reduce interest rates on loans by 2% effective April 1, 2020.

It is one of the relief measures announced by the government of Ghana to help expand the economy in response to challenges posed by the Coronavirus.
President Nana Akufo- Addo in a nationwide broadcast said businesses in the airlines and hospitality industries will be allowed to delay loan repayments for six months.
The government has announced 2-week restrictions on movements in some urban areas in Ghana, beginning from today as a measure to curb the spread of corona virus.

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