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
Thirty years after a devastating genocide, Rwanda has made impressive gains. But ethnic divisions persist under an iron-fisted president who has ruled for just as long.
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
Residents of Koforidua, the capital of the Eastern Region in Ghana, are demanding urgent action from the management of the Ghana Water Limited (GWL) to address the ongoing water rationing crisis that has persisted for four years. The residents are also requesting an increase in water production to meet the growing demand. Since 2020, GWCL […] The post Koforidua: Residents
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
Minister of Finance, Dr. Mohammed Amin Adam, has disclosed that Ghana’s agriculture sector expanded by 4.5 percent for the year 2023. The minister in the ‘2024 1st Monthly Press Briefing on the Economy’ added that the livestock, crops, and fishing subsectors also expanded by 6.5, 4.8, and 4.1 percent respectively. “Agriculture sector which expanded by […] The post Ghana’s
The post Ghana’s Economy: We must admit that our economy is ‘Dollarized’ – Paul Eric Ofori appeared first on Citinewsroom - Comprehensive News in Ghana.
By Buertey Francis BORYOR The Institute of Statistical Social and Economic Research (ISSER) of the University of Ghana has called for a review of the Special Drawing Rights (SDRs) allocation framework. The SDRs is an international reserve asset created by the IMF to supplement the official reserves of its member countries. ISSER proposed that allocations under SDRs, an international […] The post
Popular Ghanaian hip-hop star Medikal has said he is no longer part of AMG, a music group led by Criss Waddle. Medikal made this announcement on X but did not disclosed the motive behind his departure. “I’m no longer a member of AMG. If you see me wey you talk AMG I go fi slap […] The post Medikal parts ways with AMG appeared first on Citinewsroom
By Kizito CUDJOE, Abidjan – Côte d’Ivoire A policy analyst and advocacy officer in sovereign debt management, Shem Joshua Otieno, has raised concerns about Africa’s financial challenges amid a persistently austere global economic landscape. He lamented that as of 2024, the continent finds itself entangled in a web of debt, with a staggering total of […] The post Africa’s
The value of the economy in 2023 stood at GHS841.6bn relative to GH¢ 614.3bn representing a GH¢227bn increase from the previous year. This was driven by the dominance of the services sector which contributed GH¢357.34 billion or 45.6% of Gross Domestic Product (GDP), followed by industry with GH¢247.941 billion (31.7% of GDP), and agriculture at […] The post Value
For two weeks, Tsholofelo Moloi has been among thousands of South Africans lining up for water as the country’s largest city, Johannesburg, confronts an unprecedented collapse of its water system affecting millions of people. Residents rich and poor have never seen a shortage of this severity. While hot weather has shrunk reservoirs, crumbling infrastructure after […] The post South
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