Credit-to-GDP gap remains negative, signals credit contraction – BoG

Macro-Financial RisksMeanwhile, as of the end of March 2026, macro-financial risks emanating from both the global and domestic macroeconomic environment to the banking sector broadly moderated, year-on-year, supporting the continued resilience and growth of the banking sector.“Sustained favourable macroeconomic conditions, together with the continued resilience of the banking sector, remain critical to supporting the recovery in credit growth while preserving financial stability”.

The credit-to-GDP gap remained negative, although it continued to show signs of gradual improvement, reflecting a steady recovery in private-sector credit growth, the Bank of Ghana has disclosed in its Monetary Policy Report.