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...
The Auditor-General (A-G) has submitted a report on the Management of Petroleum Funds for 1st January 2018 to 31 December 2018 to Parliament.
A statement signed by Mrs Ama Awoe-Bosumafi Assistant Director of Public Relations Unit on behalf of the Director General, and copied to the Ghana News Agency, in...
Despite the coronavirus pandemic biting economies around the world hard, with many seeing a contraction - especially the developed ones, Ghana’s economy was able to withstand the destructive power of the disease, as it rather experienced growth; albeit slower than same period the previous year – thanks to the...
Budget deficit and its accompanying debt are key indicators in accessing the health of any economy. At the end of March 2020, Ghana’s public debt reached GHȼ 236.1 billion according to the Bank of Ghana. Of the total debt, US$ 22.9 billion is external representing 31.4% while GHȼ 113...
The general price levels of goods and services, according to Ghana Statistical Service, have further increased in the month of May - following price hikes by traders due to the coronavirus pandemic effects.
General prices increased by 0.7 of a percentage point over the previous month, as it recorded 11.3...
GH¢5bn in total circulation, up from GH¢20.5bn in 2018
GH¢276m, GH¢149m worth of GH¢200 and GH¢100 notes in circulation
GH¢50 note is highest in system at GH¢9bn
A total of GH¢306 million has been spent by the Central Bank to print money in 2019 including the new notes of...
Is deficit financing back?
BOG 2020 budget deficit support at 53%?
It seems the Bank of Ghana (BOG) May 2020 Monetary Policy Committee (MPC) Report cites the US Fed and US Treasury to prepare our minds for a significant shift its past conservative fiscal stance to an aggressive one....
Debt to GDP hits 59.3%
Primary balance contracts to 3.4%
Total revenue only 2.7% of GDP
The macroeconomic data of the country is flashing red light signals of danger ahead, as it is showing rising debt levels against shortfalls in revenue amid the impact of coronavirus pandemic; thereby...
Prudential Bank has donated Personal Protective Equipments (PPEs) to the Ghana Immigration Service (GIS) in Accra as part of efforts to help the fight against the COVID-19(Corona virus) pandemic in the country.
The PPEs worth thirty thousand GHC30, 000 included 10,000 pieces of gloves, 2,000 surgical masks and 20 gallons...
As part of measures to close the yawning budget deficit gap created by impacts of the coronavirus pandemic, the central bank has triggered its emergency financing provision that will allow it to support government to the tune of GH¢10billion this year.
Since 2016 when Ghana entered into an Extended Credit...