Every business in Ghana that buys in US$ and sells in GH¢ is most concerned and affected by the Ghana cedi depreciation. This is because the currency depreciation requires them to use more GH¢ to purchase the same US$ - hence causing forex-driven inflation in addition to demand and...
Former finance minister Seth Terkper says collateralisation of revenue sources is inimical to the economy, leaving the country handicapped amid shocks from turbulent events.
This, he said, is because collateralising inflows allows for the revenue to be spent upfront and could pose a real challenge for future governments since it...
Non-verbal cues will play a muted, albeit pivotal, role in the state's continued deliberations with the International Monetary Fund (IMF), Professor Douglas Boateng has intimated.
While conceding that much of the engagements will be data-driven, Prof. Boateng contends that the body-language of Ghana’s negotiating team during the interactions will also...
Consumer inflation further increased to 33.9 percent in August 2022 - signalling a reversal in the cool-off of inflation momentum and a 15th consecutive monthly increase.
The rise represents a 2.2 percentage point surge from the 31.7 percent recorded in the previous month, July 2022.
This may signal a reversal in...
Amid high inflation and a fast-depreciating local currency which have caused turmoil in the economy this year, Second Deputy-Governor of the Bank of Ghana (BoG) Mrs. Elsie Addo Awadzi has assured that the situation is temporary, as her outfit together with the finance ministry are working hard to keep...
… the verdict
The economy of Ghana was described as a model economy for a developing country and praised by many experts as one of the fast-growing economies in the world. In 2021, Bloomberg published a report that Ghana's economic growth was faster for two years running, outperforming forecasts of...
The Finance Minister, Mr Ken Ofori-Atta says he does not believe that the allegations made by the Minority in Parliament for his removal from has any weight behind it.
He told the Adhoc Committee hearing the censure motion that the proponents' allegations do not have "weight for censure."
Mr Ofori-Atta said...
Banking institutions are becoming more and more susceptible to fraud over the years, although various control measures have been put in place. Fraudsters are now more versatile in designing their modus operandi to circumvent the control. The fraudsters could originate from both internal (employees) and external sources (customers, suppliers,...
The atmosphere at the end of last month’s United Nations Climate Change Conference (COP27) in Egypt was rather sobering. Russia’s invasion of Ukraine has forced countries to turn to thermal coal and other fossil fuels to meet their energy needs, likely postponing the transition to a net-zero economy. But...
The government of Ghana’s domestic debt management plan is getting murkier each day, and is dotted with uncertainties. From Finance Minister Ken Ofori-Atta’s highly-trumpeted announcement that Ghana would not go to IMF for a bailout then resorting to it - and the unfolding debt management plan, it appears something...