The government and the Bank of Ghana (BoG) have been urged to proceed with caution in considering the reinstatement of licenses for local banks affected by the financial sector cleanup.
Professor Peter Quartey, Director of the Institute of Statistical, Social and Economic Research (ISSER), has warned that a rushed reinstatement process could destabilize the banking sector and weaken confidence in the economy. "I think we should tread cautiously.
You don't want to set such a precedent where the Central Bank takes a decision and then it is reversed.
If anybody has issues with that decision, that person can challenge it in court," he stated in an interview with Citi Business News.
