Just as increasing vaccinations offered hope, Russia’s invasion of Ukraine disrupted the global economic recovery. One of the most visible global effects has been the acceleration of energy and food prices, triggering concerns about episodes of food shortages and increasing the risks of malnutrition and social unrest. World food...
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,...
African nations’ debt distress risk jumps
The economic fallout from Russia’s war in Ukraine is causing a sharp deterioration in debt sustainability for many African nations. The proportion of African countries at high risk of debt distress rose to 60.5% from 52.6% in October, the World Bank said in the...
For 200 years, we've been building a gigantic worldwide machine driving relentless economic growth. What we recognise evermore is that it is not fulfilling its promise of prosperity.
The dominant economic models today almost exclusively emphasise the virtues of growth, ignoring the resultant negative outcomes of power asymmetry, social inequality...
Economist says it reflects general economic challenges
Despite assets growing strongly, the banking industry has witnessed a decline in the growth of deposits in February 2022, compared to same period last year, with non-residents leading the damage with a huge slump of 118.6 percent, a development an economist...
Despite the coronavirus pandemic taking a toll on economies around the world, with many experiencing contractions, the Ghanaian economy saw a marked improvement as new data from the Ghana Statistical Service shows it grew by 5.4 percent, after government eased many restrictions to pave way for the gradual resumption...
Amid the incessant rise of consumer inflation and gloomy expectations, government is incurring more costs to refinance its local debt as well as the budget, given investors' demand for higher yields across the various securities on the domestic market, analysis of market data has shown.
Currently, inflation is increasing with...
Country Manager at AZA Finance, a cross-border payment provider, Nana Yaw Owusu-Banahene, has described central bank digital currencies (CBDC) as the next major layer in the evolution of the pan-African cross-border payment framework.
In his estimation, the enhanced interoperability offered by CBDCs makes them the ideal vehicle to surmount existing...
The Economist Intelligence Unit ((EIU) has urged government to go for an International Monetary Fund (IMF) programme, saying it will benefit the economy, especially in a bid to reignite investor interest.
Many investors, particularly those interested in the debt market, shun the country’s bonds, with some of the existing ones...
WTO warns on food supply risks for Africa
The global hike in food prices caused by Russia’s war in Ukraine could lead to mass hunger in developing countries, especially in Africa, according to the World Trade Organization. With 35 African countries importing food from Russia, Ukraine or both, and another...
