Consumer inflation further increased to 31.7 percent year-on-year (y-o-y) in July 2022, on the back of persistent price pressures from transport, data from the Ghana Statistical Service (GSS) have shown.
This represents a 1.9 percentage point rise from 29.8 percent recorded in the previous month.
Persistently increasing food, petroleum and transport...
-A step in fighting money laundering and terrorist financing.
“Not guilty on until proven guilty in a court of competent jurisdiction”. This is a common statement in various spheres of the legal fraternity and also in any community where justice takes centre stage of events. However, that statement brings...
Huge revenue losses associated with the outbreak of COVID-19 and projected losses due to the impact of the pandemic has pushed government to downgrade its Gross Domestic Product (GDP) growth from 6.8 percent to 0.9 percent.
This was announced by the Minister of Finance Ken Ofori Atta during the presentation...
Data from Ghana Statistical Services (GSS) show there has been a substantial drop in Producer Price Inflation (PPI) - from 78.1 percent in November 2022 to 52.2 percent in December 2022.
This represents a 25.9 percentage point decrease in producer inflation relative to the rate recorded in the previous month....
With governments the world over being held more accountable by their citizens and investors for higher environmental, ethical and social standards, the 2023 budget statement and economic policy must include a clear and viable path on climate action, access to affordable and clean energy, and quality education.
This is a...
The Institute of Economic Affairs (IEA), a think-tank, has described the nation’s four-year growth rate projection of 5.4 percent as low, and below its potential compared to the various policies outlined in the budget to resuscitate the economy from the impact of COVID-19.
According to the Director of Research at...
Governor of the Bank of Ghana (BoG) Dr. Ernest Addison has indicated that the monetary authority will not relent in its battle to beat down inflation and attain price stability, despite global and local pressures militating against its efforts.
In a speech read on his behalf at the 39th Annual...
Nigerian banks plan to restructure over a third of loans after running into repayment problems due to the coronavirus pandemic, a member of the central bank monetary policy committee said.
A total of 17 banks have submitted requests to restructure over 32,000 loans for businesses and individuals, representing 33% of...
The post COVID world has been observing massive heights in product price/inflation. However, it remains a grey area if the trajectory is long or short. Let’s first go through detrimental aspects of inflation in terms of the economic environment, global supply chain, policy regulations, demand factors, cost-push factors, rising...
Just like every other sector, the country’s banking industry could not escape the devastating impact of the coronavirus pandemic, as new data from the regulator shows declining profit growth rate and escalation in operating expenses.
The Banking Sector Report (May 2020) reveals that the industry’s profit-after-tax outturn was GH¢960.4 million...