Financial conditions ease: BoG directs banks to boost SME, agric lending

Addressing heads of banks in a meeting at the Bank Square, the head office of the BoG, in Accra yesterday, Dr Asiama explained that stronger lending to SMEs, particularly those in the agricultural value chain, would help translate the improved economic environment into broader economic growth.

Real private sector credit growth measures the increase in credit given by banks to businesses and households after adjusting for inflation.

It followed the 131st Monetary Policy Committee (MPC) meeting and provided a platform for banks to review the MPC’s decisions and assess their implications for lending strategies, liquidity management and credit growth.