Wednesday, February 8, 2023
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 -...
Despite a difficult start to the year, the bond market saw a slight improvement last week - with trading volumes increasing by 344 percent from GH¢581million to GH¢2.58billion. The Domestic Debt Exchange Programme (DDEP) extension expectedly provided some holders with an opportunity to rebalance their portfolios, as well as allow...
Government has been urged to also pay attention to getting a better deal with regard to the country’s external debt while it engages stakeholders on the Domestic Debt Exchange Programme. Given the proportion of external debt to domestic debt, experts who made this call say it has become imperative as...
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