Ghana - Broad money growth (annual %)

The value for Broad money growth (annual %) in Ghana was 28.36 as of 2020. As the graph below shows, over the past 59 years this indicator reached a maximum value of 68.53 in 1978 and a minimum value of 1.23 in 1967.

Definition: Broad money (IFS line 35L..ZK) is the sum of currency outside banks; demand deposits other than those of the central government; the time, savings, and foreign currency deposits of resident sectors other than the central government; bank and traveler’s checks; and other securities such as certificates of deposit and commercial paper.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1961 8.82
1962 15.17
1963 7.29
1964 37.12
1965 1.93
1966 4.93
1967 1.23
1968 10.19
1969 10.45
1970 9.95
1971 11.13
1972 40.66
1973 18.85
1974 26.66
1975 37.92
1976 37.07
1977 60.30
1978 68.53
1979 15.77
1980 33.80
1981 51.32
1982 23.35
1983 40.21
1984 53.62
1985 46.17
1986 47.94
1987 53.33
1988 46.28
1989 54.67
1990 13.30
1991 39.08
1992 52.28
1993 33.50
1994 52.57
1995 43.17
1996 39.20
1997 44.09
1998 17.49
1999 25.42
2000 54.24
2001 56.53
2002 39.21
2003 23.24
2004 27.28
2005 19.47
2006 39.34
2007 36.83
2008 39.18
2009 24.74
2010 31.92
2011 33.99
2012 25.14
2013 19.50
2014 37.29
2015 25.57
2016 22.50
2017 16.07
2018 15.76
2019 21.35
2020 28.36

Limitations and Exceptions: Monetary accounts are derived from the balance sheets of financial institutions - the central bank, commercial banks, and nonbank financial intermediaries. Although these balance sheets are usually reliable, they are subject to errors of classification, valuation, and timing and to differences in accounting practices. For example, whether interest income is recorded on an accrual or a cash basis can make a substantial difference, as can the treatment of nonperforming assets. Valuation errors typically arise for foreign exchange transactions, particularly in countries with flexible exchange rates or in countries that have undergone currency devaluation during the reporting period. The valuation of financial derivatives and the net liabilities of the banking system can also be difficult. The quality of commercial bank reporting also may be adversely affected by delays in reports from bank branches, especially in countries where branch accounts are not computerized. Thus the data in the balance sheets of commercial banks may be based on preliminary estimates subject to constant revision. This problem is likely to be even more serious for nonbank financial intermediaries.

Statistical Concept and Methodology: Money and the financial accounts that record the supply of money lie at the heart of a country’s financial system. There are several commonly used definitions of the money supply. The narrowest, M1, encompasses currency held by the public and demand deposits with banks. M2 includes M1 plus time and savings deposits with banks that require prior notice for withdrawal. M3 includes M2 as well as various money market instruments, such as certificates of deposit issued by banks, bank deposits denominated in foreign currency, and deposits with financial institutions other than banks. However defined, money is a liability of the banking system, distinguished from other bank liabilities by the special role it plays as a medium of exchange, a unit of account, and a store of value.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Monetary holdings (liabilities)