Early indications have signalled an easing in the rate at which prices of goods and services are rising, Director of Research at the Bank of Ghana, Dr. Philip Abradu-Otoo, has suggested.
Inflation accelerated to 27.6 percent in May - an 18-year high, compared to 7.5 percent at the end of...
Food, debt relief and spending to ease Ukraine-Russia falloutÂ
Zambia held its long-delayed meeting with China and other international lenders in the wake of its debt default in 2020 as it seeks to unfreeze $1.4bn of funding from the IMF.
Meantime, as the global food crisis rages on, the US is...
All societies across time and place have faced the ‘basic’ economic problem – scarcity and how best to make use of limited resources. Some have prioritised improving production through enhanced technology with varying degrees of success. Others have relied on the exchange of their natural resources to succeed.
But some...
But economies dependent on flows from Russia will see major decline
Officially recorded remittance flows to low- and middle-income countries (LMICs) are expected to increase by 4.2 percent this year to reach US$630 billion. This follows an almost record recovery of 8.6 percent in 2021, according to the World...
Foreign inward remittances have been observed to be one of the least volatile sources of foreign exchange earnings for developing countries. While foreign capital flows tend to rise during favourable economic cycles and fall in bad times, remittances appear to react less violently and as such tend to exhibit...
If you speak to most migrant workers you will hear of the extended financial support they provide to their families back home, as well as the large development projects they are funding. This they achieve by hiving off a portion of their income and sending it to their respective...
Speakers at the 22nd Educational and Biennial Conference of the Ghana Co-operative Credit Union Association (CUA) have urged the association to build the necessary financial and operational resilience to participate fully in the country’s recovery agenda.
And for CUA to be able to contribute meaningfully to the country’s economic recovery,...
In the last 5 months, the Central Bank has constantly increased interest rate from 14.5% to 19% as means of managing high inflation rate. The May 2022 rate (19%) was the second consecutive rate increase this year, raising borrowing costs to their highest level since February 2018. It can...
Governor of the Bank of Ghana, Dr. Ernest Addison, has said that to restore confidence it is necessary for bold policies to be taken to repair some of the damage that prevailing global conditions have had on the local economy.
In a speech read on his behalf by Head of...
Calls for reevaluation of pricing model of risky assets
Member of Parliament for Nhyiaeso Constituency, Dr. Stephen Amoah, has called for re-evaluation of the pricing model for government short-term bills, saying the high rates they offer are among the reasons cost of lending is so expensive.
He said for wider...