IV Ghana
Author:
Mr. Tomás J. T. Baliño https://isni.org/isni/0000000404811396 International Monetary Fund

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,
Mr. Charles Enoch
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Mr. William E. Alexander
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Language:
English
Print Publication Date:
06 Jul 1995
Keywords:
OP; overview; market; issue; part; country sample; restructuring of the banking system; encouragement of bank competition; insulation of monetary policy; part II; government securities market; Open market operations; Commercial banks; Credit; Monetary policy instruments; Treasury bills and bonds; Europe; Western Europe; North America; Central and Eastern Europe; Middle East; BOG securities; BOG instrument; BOG bill; credit market share; securities auction; Currencies; Bank deposits; Monetary systems

Abstract

Ghana introduced indirect monetary instruments after major reform efforts to reduce the macroeconomic imbalances and an initial period of institution building. Its experience illustrates that certain key measures that affect the structure of the financial system need to be in place in order to ensure momentum in the transition to a market-based monetary control system. Furthermore, even when these conditions are met, the ultimate success of the program in achieving macroeconomic stability depends critically on fiscal responsibility and disciplined control of money and credit.

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Cover The Adoption of Indirect Instruments of Monetary Policy
The Adoption of Indirect Instruments of Monetary Policy
ISBN:
9781557754899
ISSN:
0251-6365
Publication Date:
06 Jul 1995
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557754899.084
Pages:
75

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