Category: Business

The World Bank has said Ghana needs $1.5billion assistance from the International Monetary Fund (IMF). This could help to shore up public finances and regain access to credit markets, it said. The World Bank explained in its October 2022 Africa Pulse Report that debt is expected to jump in Ghana to 104.6 percent of GDP, from 76.6...

The World Bank has projected that public debt is projected to nudge up in non-resource-rich countries, up to 65.6 percent of Gross Domestic Product (GDP) in 2022 from 65.1 per cent in the previous year. Debt is expected to jump in Ghana to 104.6 percent of GDP, from 76.6 a year earlier amid a widened...

Director of Operations at Dalex Finance, Joe Jackson, is concerned that debt restructuring will ultimately affect local banks. This is further speculated to affect purchasers of government bonds, depending upon the outcome of yet-to-be held negotiations. As the government engages the IMF for support, the question of Ghana’s debt sustainability and consequent debt restructuring are...

Efforts put in place by the government and the Bank of Ghana to arrest the free fall of the cedi against major trading currencies, especially the US dollar, is paying off. This was disclosed by the Minister of Finance, Ken Ofori-Atta, when he briefed the press on Wednesday, September 28, 2022. Recent data from the...

Director of Research at the Institute of Economic Affairs (IEA) Dr. John Kwakye has said prudent economic management is what will strengthen the Cedi. According to him, the Cedi’s saviour lies in Ghana’s policies and leveraging its resources and capacities. Earlier he indicated that another re-denomination of Ghana’s currency, the Cedi, is about to happen...

The Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has indicated that another re-denomination of Ghana’s currency, the Cedi, is about to happen following the rising rate of inflation and also the depreciation against the Dollar. Unless the managers of the economy rein in inflation and depreciation, Ghanaians should expect...

The World Bank Country Director for Ghana, Liberia, and Sierra Leone, Pierre Laporte has asked Ghana to quicken its move to get a programme under the International Monetary Fund  (IMF) to deal with the economic challenges. For him, the country will find it tough dealing with the domestic challenges without the support. He said these while speaking in...

The International Monetary Fund (IMF) is optimistic that the country will emerge stronger from the current economic challenges that have seen the prices of goods and services soar. The challenges have also led to difficulties for the government to access the international capital market for funds to finance development. The IMF said the country had...

The Ghana Statistical Service (GSS) on Wednesday 14th September 2022, Announced that Ghana consumer inflation has increased to 33.9% in August 2022 from 31.74% in july 2022. The report which was read by Professor Samuel Kobina Annim on Wednesday indicated that inflation rate between July 2022 and August 2022 was 1.96%. According to him the...