Author: Dr. David Ackah, Ph.D.
Lecturer & Internal Auditor of Administration
Golden Sunbeam International College of Science Technology
Abstract
The on-going Economic Situations has become the major subject under discussion in most national and international economic forums and summit in recent times because of the casualties it has inflicted to the financial institutions and the economies of the world. The situations like Currency, rise of informal economy, and Energy crises has caused many country within the Euro zone and America to resort to bailout funds in other to ensure continuity of their operations. Countries like Portugal, Ireland, Spain, Italy, India and Greece had to implement some austerity economic policies in order to attract bailout fund from the European central bank. The global economy has experience stagnation or slowdown over the past four years, while international trade volumes have been decreasing. Lives of ordinary people have been adversely affected as unemployment rate keeps on soaring resulting in uncertainty about the future. By examining the performance of the commercial banks, it is true that the banks in Ghana have been experiencing profitability over the last ten years which includes the current years of global financial crisis.
Keyword: The Economy, Global Situation, Currency, rise of informal economy, and Energy Crises
