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...
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...
Despite inflation surging to double digits in April as a result of a spike in demand for food and other essentials in anticipation of the lockdown announcement, Databank Research says there is hope that the rate will come down due to government’s subsidy on utilities.
In late March and April,...
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...
Introduction
Since the outbreak of COVID-19 in Ghana in March 2020, economic policymaking has been dominated by measures to address the many impacts of the pandemic. In particular, fiscal policy has been deployed on a massive scale to shore up the public health response to COVID-19 and also lessen...
The COVID-19 pandemic, one of the world’s most significant events in recent memory, has resulted in the cessation of economic activities for many African countries. Many economic analysts have predicted that the pandemic will lead to a significant decline in GDP, unparalleled social disruption, and the loss of millions...
A microfinance company based in the Western Region, Boin Microfinance Limited, has cited the Receiver, Eric Nana Nipah, for abuse of power and disregard for the law as the company’s assets are being confiscated despite court order stopping it from doing so.
According to management of the company, the Accra...
Former Finance Minister Seth Terkper has demanded that the government presents accurate and transparent data about the economy’s true situation - especially with respect to the deficit figures as it prepares to present the mid-year budget this week.
His comments come on the back of concerns raised by the minority...
The Ghana Stock Exchange saw a decline of trading activities in the first quarter of the year, mainly induced by the global impact of the coronavirus pandemic - pushing investors to flee to safer havens like gold, the Japanese Yen and US dollar, a Bank of Ghana report has...