Wednesday, February 1, 2023
Both at the individual and institutional level, debt can be a powerful instrument for good or bad effects. States rely on borrowed funds to build or repair vital infrastructure aimed at improving quality of life and to spur economic growth. All over the world, long-term debt - bonds maturing...
Following the successful finalisation of agreements between government and key bondholders - the Ghana Association of Bankers (GAB) and Ghana Insurers Association (GIA) - regarding their participation in the debt exchange programme, analysts are predicting a stable outlook for the cedi. This will be a major boost for businesses and...
The absence of clarity, as well as viability of the Ghana Financial Stability Fund (GSFS) to cushion sector actors against potential shocks from the Domestic Debt Exchange Programme (DDEP), remains a major concern, say analysts. Announced by the Finance Ministry in partnership with the Financial Stability Council, the GSFS has...
The Cedi depreciated marginally against the dollar, trading at 12.34 from 12.21 at last week’s close. The government and the Ghana Association of Banks said they reached agreement on the terms of a debt exchange programme for domestic banks holding Ghana’s local bonds. The government has agreed to pay...
Senegal’s economy is poised for 8% growth this year and 10.5% in 2024, according to the World Bank, in part as a result of the country benefitting from European efforts to diversify gas supplies away from Russia. Senegal is forecast to increase gas output to 2.5m tonnes this year...
Vice President Dr. Mahamudu Bawumia has called for smart investments into the continent’s critical infrastructure - a move he said could accelerate success for the African Continental Free Trade Area (AfCFTA). “As a continent, we need to produce and trade our way out of poverty and underdevelopment, and we cannot...
The Domestic Debt Exchange Programme will blight the fortunes of pensioners and erode the gains in private pension funds, Dr. Kofi Anokye OWUSU-DARKO - a former Chief Executive Officer-National Pensions Regulatory Authority (NPRA) - has warned. The value of private pension funds - 2nd-Tier and 3rd-Tier - stood at GH¢28billion,...
Africa has seen an outpouring of economic success in recent years due to increased infrastructure, human capital and political stability. Recently, the continent has been housing some of the world's most powerful economies, including South Africa, Nigeria and Egypt. However, despite this overall success, there are still many facets...
Africa is responsible for only about 4 percent of global emissions, and the continent’s institutional environment impedes investment in green energy. However counterintuitive – if not outrageous – it may sound, wealthy countries should instead consider boosting investment in Africa’s carbon-intensive industries. Many in the global development community are pushing...
The Institute of Economic Affairs (IEA) has proposed measures which could help government save over GH¢45billion annually, and lessen the impending Domestic Debt Exchange Programme’s (DDEP) impact on the economy. Anchored on fiscal measures - expenditure cuts and ambitious revenue mobilisation as well as the need for burden sharing -...
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