Early in his career, the economist Joseph E. Stiglitz had an extended stay in Kenya, where he was struck by various oddities in how the local economy operated. Sharecropping was one such anomaly. If farmers were required to surrender half of their harvest to landlords, Stiglitz wondered, wouldn’t that...
Ghana has received the equivalent of US$1billion from the International Monetary Fund (IMF), being its share of the new Special Drawing Rights (SDRs) allocation to boost the COVID-era economic recovery of member-countries.
On 2nd August 2021, the IMF Board of Governors approved a general allocation of SDR456.5 billion, equivalent to...
The Cedi was little changed against the dollar this week, trading at 6.042 compared to 6.04 at last Friday’s close. Also at the end of last week, Ghana’s President Nana Addo Dankwa Akufo-Addo said he had directed ministers to maintain a ‘constructive dialogue’ between government and the private sector...
Research published by the Economic Governance Platform has urged government to limit the participation of non-residents in the domestic borrowing market, as this is partly responsible for the high debt level.
Data on the central government’s fiscal position contained in the Statistical Bulletin report show that since second-quarter of the...
Upfield Foods, the foremost global plant-based consumer products company and maker of the iconic Blue Band spreads, has been awarded Gold at the National Quality Award as a special recognition from the Ghana Standards Authority (GSA) in partnership with the Association of Ghana Industries (AGI).
At the AGI Ghana Industry...
The Social Security and National Insurance Trust (SSNIT), in consultation with the National Pensions Regulatory Authority (NPRA), has indexed monthly pensions upward by 10 percent for the year 2022. This increment is in line with Section 80 of the National Pensions Act 2008 (Act 766).
Per the Trust, all pensioners...
Third coup marks disturbing trend
As the saying goes, once is a phenomenon, twice a coincidence, but three times – that’s a trend. Burkina Faso this week became the third West African country in the past 12 months to see its government toppled in a military coup.
Michael Nderitu
Head of Trading, AZA
Military...
While the Ghana Card will boost the confidence of financial institutions to lend to businesses and individuals without much fear, the painstakingly slow judicial process could derail expected gains the national identification card could bring in terms of exponential growth of credit, Managing Director of Dalex Finance, Kenneth Kwamina...
Finance Minister Ken Ofori-Atta says government envisages saving about GH¢3.5billion from its new expenditure cuts, as it aims to achieve the 2022 fiscal deficit target of 7.4 percent of gross domestic product (GDP).
This follows a Cabinet retreat last Saturday to discuss immediate measures government wants to implement to alleviate...
In what appears to be a rejoinder to critics who dared him to break his silence on the state of the economy, Ghana’s Vice President, Dr. Mahamudu Bawumai, on April 7, 2022, admitted the fundamental challenges facing the economy, partly due to the significant global economic slowdown. He, however,...