Introduction In accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921), the Minister for Finance presented the budget statement on behalf of the President on Wednesday, 15th November 2023. The 2024 budget is critical for the country as it...
My favourite definition of economics is that by Lionel Robbins. According to Robbins, economics is “a science that studies human behaviour as a relationship between ends and scarce means that have alternative uses”.  Microeconomics on the other hand relates to the study of choices made by individuals and households...
The Institute of Statistical, Social and Economic Research (ISSER) has called for a dialogue between Mobile Money (MoMo) stakeholders to address the current impasse and arrive at fair and sustainable compensation for MoMo agents. ISSER emphasises the critical role of MoMo agents in driving financial inclusion in the country, and...
THE FUNDRAISER’S MINDSET I am always first to admit that upon returning home from London to Accra (Tema, to be precise), I was so eager yet so unknowingly green. I set sail with a cargo of dreams and ‘book-long’ strategies, ready to conquer the vast ocean of the African Business...
Despite recent progress on restructuring the country's debt, short-term interest rates exceeding 30 percent are undermining the savings achieved according to Leslie Dwight Mensah, an economist at the Institute for Fiscal Studies (IFS). With domestic markets as the sole financing source, he said, government remains vulnerable. "If stronger fiscal consolidation...
The Bank of Ghana’s (BoG) decision to implement a 15 percent unified Cash Reserve Ratio (CRR) on both local and foreign currency bank deposits is anticipated to inject over US$700million into the foreign exchange (FX) market. Despite existing pressure on the cedi, upcoming inflows from the International Monetary Fund and cocoa loan syndication offer...
warns against pre-election fiscal populism The Institute for Fiscal Studies (IFS) has raised concerns over government’s budget plans for 2024 - an election year. With a nearly 100 percent year-on-year increase in domestically financed capital expenditure, the Institute warned that pre-election fiscal populism could further impact the economy negatively. “If the...
The Bank of Ghana’s (BoG) recent decision to implement a 15 percent unified Cash Reserve Ratio (CRR) on both local and foreign currency bank deposits is poised to intensify pressure on the already strained Treasury market. Last week’s auction results revealed such fears as there was a liquidity squeeze following...
INTRODUCTION H.E. John Mahama has envisioned in his next government a system where there will be a 3-shift working environment making it a 24-hour economy. This is where there is distribution of goods, services and capital, supported by technology to keep economic players (Government, Private Sector Producers and Consumers) continuously...
A 24-hour economy refers to an economic system where businesses and activities operate around the clock, 24 hours a day. This concept has gained prominence in modern society due to increased globalisation, technological advancements, and changing consumer behaviour. The 24-hour economy extends beyond traditional working hours, allowing for continuous...

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