The Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has called for the establishment of a robust and predictable framework to enable financially distressed but viable businesses to be restructured instead of being forced into liquidation.
According to him, Ghana needed a system that would allow banks to support genuine business recovery while safeguarding depositors, preserving financial stability and maintaining prudent lending standards.
Dr Asiama made the call in Accra yesterday at a forum organised by the Bank of Ghana in collaboration with the Chartered Institute of Restructuring and Insolvency Practitioners (CIRIP) Ghana on Non-Performing Loans (NPLs) and Post-Commencement Financing.
The forum was held on the theme: ‘Financing Distressed Companies: The Impact of Non-Performing Loans (NPLs), IFRS 9 Standards, and Prudential Regulations on Post-Commencement Financing for Distressed Companies under Rescue and Possible Interventions.’
ghanaiantimes
