Examine some of the difficulties in the financial system in Ghana and how it has been addressed?

Question

04-08-2020
Law

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Examine some of the difficulties in the financial system in Ghana and how it has been addressed?

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Munali Munali · Answer 1 · 2020-08-07T10:46:19+02:00

Answer:

The several banks in Ghana had collapsed. The banks were given license few years ago. The banks were heavily deficient in liquidity and they had instability in financial systems.

Explanation:

There have been mergers of some banks in Ghana which lead to financial system inconsistencies. There was continuous mobilization of fund which resulted in unstable deposits. The challenges have been addressed by Implementing Institution Act of 2016.