Vice President calls on Banks to reduce interest rates

Vice President John Dramani Mahama on Thursday called on Ghanaian Commercial Banks to reduce their interest rates for trade to flourish and reflect the current economic trends in the country.

The reduction, he explained would also facilitate rapid economic growth and provide conducive atmosphere for trade, commerce and employment.

Vice President Mahama made the appeal when members of the International Association of Consultants, Valuers, and Analysts called on him at the Castle, Osu.

The delegation was at the Castle to inform Vice President Mahama that Ghana had officially been admitted into the Association and to introduce Mr James Catty, their international chairman.

Ghana would for now have an oversight responsibility of Kenya, which is also working hard to gain membership status.

Vice President Mahama said although there were tremendous improvements in Ghana’s economic indicators, Banks were still adopting the “wait and see tactics” that currently overburdened the plight of the business community and the general public.

He said consultancy was necessary for laying good foundations and implementation of programmes and projects, and appealed to the group to enforce all their rules and regulations that would pave way for effective execution of public programmes.

Mr Catty said his outfit would support Ghana to develop her human resource base through training and transfer of knowledge to enable them to undertake meaningful projects throughout the country.

Mr Bennet Kpentey, President of Ghana’s chapter said they would take advantage of their admission into the international group to build the capacity of their professionals to take up responsible positions in the country’s development.

Source: GNA