The passage of outstanding revenue bills by Parliament remains critical to government programmes as well as to enable the state to complete four of the five agreed prior actions in the International Monetary Fund (IMF) Staff Level Agreement.
The outstanding bills are the Income Tax (Amendment) Bill, Excise Duty and...
When a market liquidity and/or funding liquidity crisis occurs at a moment when inflation is above-target, tension between the objectives of central banks – price stability and financial stability – is inevitable. In such cases, I believe that financial stability must come first, because it is a precondition for...
The Ministry of Finance invited, on December 5, 2022, holders of 60 old domestic debts to voluntarily exchange GH¢137.3 (US$14.3) billion domestic bonds and notes including E.S.L.A and Daakye Bonds, for a package of twelve new eligible domestic bonds. Under the debt swap or exchange announced on December 5,...
What should we expect from the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) at a time when the Treasury is aggressively attempting to reduce its cost of borrowing by taking advantage of the high demand environment for short-term maturities?
The Treasury’s action is taking place while the...
Market observers anticipate that the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) will maintain its policy decision at 28 percent. The decision is expected to be announced next week Monday, March 27, 2023.
In an effort to drive inflation on a downward path, the MPC, in its...
Consumer inflation has further declined to 52.8 percent in February 2023 from 53.6 percent in the previous month, sustaining the reversal of the price pressures which begun in January 2023.
Inflation peaked around 54.1 percent in December, 2022, accelerating for 19 consecutive months, according to the data from the Ghana...
Demand for treasury bills (T-bills) surged last February with total bids for the month reaching GH¢13.51billion, thus +46 percent month on month (m/m) – the largest size in three years.
Following the exemption of treasury bills (T-bills) from the Domestic Debt Exchange Programme (DDEP) in Q4-2022, investors flocked to T-bills,...
The world is at last waking up to the ways in which economic interconnectedness amplifies the risks of geopolitical turmoil. But while there is good reason for countries to boost resilience, a wholesale shift from integration to fragmentation, driven by geopolitical hostilities, bodes well for no one’s peace or...
African economies remain resilient with a stable outlook in 2023-2024 despite the tightening global financial conditions, the African Development Bank has projected in a new report.
The report, Africa’s Macroeconomic Performance and Outlook (MEO) 2023, estimates Africa’s average GDP to stabilise at 4 percent in the next two years, up...
President Nana Akufo-Addo has assured that government has made significant progress in its external debt negotiations since announcing an external debt service suspension on December 19, 2022 for certain categories of external debt.
This suspension was an interim emergency measure toward a comprehensive external debt operation, which will contribute to...
