By Joshua Worlasi AMLANU & Ebenezer Chike Adjei NJOKU [email protected] / [email protected] The recent hike in inflation in March was ‘not surprising’ and poses no significant threat to the general recent disinflationary trend, Head of Research at GBC Capital, Courage Boti, has said. Consumer inflation reached a new high of 25.8 percent in March 2024, […] The post
A strong caution against charging unapproved fares by certain drivers has been issued by the Ghana Private Road Transport Union (GPRTU) and the Ghana Road Transport Coordinating Council (GRTCC). In a press release dated April 11, they stressed that increasing transport fares without approval is illegal and that passengers should ignore any increases. “It has […] The post Don’t
Flagbearer of the opposition National Democratic Congress (NDC), John Dramani Mahama, has expressed surprise at the multiple levies and taxes imposed on imported vehicles at the port. Addressing members of the Ghana Union of Traders Association (GUTA) in Accra, the former president, however, lashed out at the traders’ union for not joining the NDC minority […] The post ‘I’m shocked’
but faster and more equitable growth needed to reduce poverty Increased private consumption and declining inflation are supporting an economic rebound in sub-Saharan Africa. However, the recovery remains fragile due to uncertain global economic conditions, growing debt service obligations, frequent natural disasters and escalating conflict and violence, according to the World Bank’s latest Africa’s Pulse […] The post
Customers of Gold Coast Fund Management in the Ashanti region have issued an ultimatum to the government to return their locked-up investments or they will campaign against the party in the upcoming elections. The customers, who are agitated and frustrated, have set a deadline of June 30, 2024, for the return of their funds. In […] The post Aggrieved
The Director of Legal Affairs for the opposition National Democracy Congress (NDC), Edudzi Tamakloe, has stated that the New Patriotic Party under President Akufo-Addo used the Eurobonds to cushion Ghana’s currency from depreciation from 2017 to 2021. He said the government decided to use Eurobonds to give the Cedi an ‘artificial strength’ emphasising that the […] The post Govt
Ghana does not need the Special Drawing Rights (SDR) of the International Monetary Fund (IMF) for economic growth, an economist Dr John Kwakye has said. In the view of the Director of Research at the Institute of Economic Affairs (IEA), Ghana can develop by relying on its natural resource wealth. “We don’t need any SDRs […] The post Economist
The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has declared that Ghana’s economy is on an upward trajectory compared to previous years. Previously, the economy had experienced a downturn, prompting the government to seek a $3 billion International Monetary Fund (IMF) bailout. However, during his address to the Public Accounts Committee of […] The post Ghana’s
The Economic Fighters League says it has been closely monitoring recent developments within the political landscape as prominent figures from the establishment defect to forge alliances with other movements, all aimed at challenging the entrenched dominance of the New Patriotic Party and the National Democratic Congress. The Fighters said they extend a warm welcome to […] The post 2024
President Nana Addo Dankwa Akufo-Addo has signed into law an Act of Parliament which seeks to revise and consolidate all laws relating to wildlife and protected areas. The Wildlife Resources Management Act, 2024 (Act 1115), sponsored by the Ministry of Lands and Natural Resources, was passed by Parliament on 28th July, 2023, and assented to […] The post Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has signed into law an Act of Parliament which seeks to revise and consolidate all laws relating to wildlife and protected areas. The Wildlife Resources Management Act, 2024 (Act 1115), sponsored by the Ministry of Lands and Natural Resources, was passed by Parliament on 28th July, 2023, and assented to […] The post Akufo-Addo
The President of the Coalition of Concerned Teachers, Ghana, King Ali Awudu, wants the government to extend the One Student, One Tablet initiative for senior high schools to basic schools as well. He said that basic schools, which formed the critical aspect of the education ladder, have not seen much investment He said this while […] The post One Student, One
The Ghana Private Road Transport Union (GPRTU) is set to meet on Wednesday, April 10, to deliberate on the possible increase in transport fares. However, the Western regional branch of the union has announced a 30-percent increment in transport fares for its members, effective Monday, April 8. The driver’s union has complained over the increasing […] The post Transport fares hike: GPRTU
According to the 2023 World Economics Governance Index study, Ghana is one of Africa’s top ten best-governed countries, ranking fifth behind Mauritius, Namibia, South Africa, and Botswana. Per the ranking, Ghana outperformed Senegal, Malawi, Lesotho, Burkina Faso, Togo, and Nigeria. Ghana scored a grade of B, and with an index of 61.7, secured the 5th […] The post Ghana ranked 5th best-governed
The Institute of Economic Affairs (IEA) has criticized the government for its poor macroeconomic performance from 2020 to 2022. During this period, Ghana experienced an economic downturn, with the government seeking a 3 billion bailout from the International Monetary Fund (IMF). Giving a post-analysis of President Akufo-Addo’s State of the Nation Address (SONA), on April […] The post Economic
By Dr. Richmond ATUAHENE Abstract The present paper examines the issue of the current Ghana’s public debt crisis, its underlying causes and lessons for the present and the future. After providing a historical discussion, we show that the austerity of the last four years has been unsuccessful in stabilizing the debt while, at the same […] The post The
By Joshua Worlasi AMLANU In a comprehensive update on Ghana’s debt restructuring programme, Finance Minister Dr. Mohammed Amin Adam has highlighted the government’s ongoing efforts to restore fiscal sustainability and foster economic recovery. Speaking at a press briefing, the Minister emphasised the significance of upcoming discussions with bondholder representatives to advance restructuring engagements. “In the […] The post
Professor John Gatsi, economist and Dean of the University of Cape Coast Business School, has maintained that the indicative exchange rate used by the Bank of Ghana (BoG) is not reflective of the cost structure of business in the country. According to the central bank, the cedi depreciated at 6.8 percent against the US dollar […] The post Relative
The Bank of Ghana (BoG) has received a US$300 million facility from the World Bank as budgetary support. According to a report by Citi News, the BoG’s account was officially credited on Wednesday, March 27, 2024. The release today is the first of three $300 million World Bank operations for disaster response and resilience in […] The post $300m World Bank budgetary support hits
By Joshua Worlasi AMLANU ([email protected]) The Monetary Policy Committee (MPC) of the Bank of Ghana has announced its decision to maintain the monetary policy rate at 29 percent, citing persisting upside risks to inflation. Dr. Ernest Addison, Governor of the central bank, disclosed the rationale behind the decision during the 117th MPC meeting’s press briefing […] The post
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