The domestic economy continued to show strong signs of recovery from the impact of the COVID-19 pandemic in the first quarter of 2021, says Bank of Ghana’s Monetary and Financial Developments report.
According to the report, inflationary pressures moderated during the second quarter of 2021.
The headline inflation dropped sharply below the central path of the medium-term target band of 8±2 percent, supported by tight monetary policy stance,” it stated.
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The overall impact of the pandemic on the banking industry has been moderate; the financial soundness indicators showed that banking sector remained solvent, liquid, profitable and well-capitalized.
As a result of these developments, the Ghana Stock Exchange’s composite index (GSE-CI) sustained its strong performance in June 2021 reinforced by high investor interests.
Over the review period, the share prices of 10 companies appreciated with
MTNGH (20%), EGL (18%), TOTAL (12%), BOPP (9%) and POP (8%) making the top five.