{
  "id": 9706727,
  "title": "It’s a temporary relief for businesses – Prof Quartey on cost of credit",
  "url": "https://urgent.news/2026/09/25/its-a-temporary-relief-for-businesses-prof-quartey-on-cost-of-credit-9706727",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-25T02:50:00.000Z",
  "source": {
    "name": "Joy Business",
    "slug": "joy-business",
    "url": "https://www.myjoyonline.com/its-a-temporary-relief-for-businesses-prof-quartey-on-cost-of-credit/"
  },
  "original_language": "en",
  "account": "Economist Professor Peter Quartey has expressed hope for temporary relief from the increasing cost of borrowing for businesses in Ghana. Speaking on Joy News' PM Express Business Edition, Quartey stated that businesses should not anticipate higher credit costs in the near future, but emphasized that the relief may only be temporary. The outlook for credit costs, according to Quartey, will largely depend on the global economy and developments such as the situation between Iran and the U.S.\n\nQuartey noted that Ghana's limited economic buffers make the country vulnerable to external shocks. Unlike some nations with oil reserves, Ghana lacks significant buffer resources to cushion against unexpected events. This vulnerability is further compounded by the country's heavy reliance on imported processed fuel, as well as its continued dependence on petroleum products while other countries rapidly transition to alternative energy sources.\n\nAdditionally, Quartey highlighted Ghana's heavy reliance on gold exports, which account for nearly 60% of the country's export earnings. Should gold prices decline or international markets face challenges, Ghana could face significant consequences. Overall, Quartey's assessment suggests that while businesses may currently enjoy temporary relief from higher credit costs, the country remains exposed to various risks stemming from its economic structure and global dependencies.",
  "summary": "Economist Professor Peter Quartey says businesses can expect some relief from rising borrowing costs in the short term.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "It’s a temporary relief for businesses – Prof Quartey on cost of credit",
        "url": "https://urgent.news/2026/09/25/its-a-temporary-relief-for-businesses-prof-quartey-on-cost-of-credit",
        "published": "2026-09-25T02:50:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}