A former Finance Minister, Seth Terkper, believes the Akufo-Addo has no excuse for not paying customers of the collapsed financial institutions because of the opportunities afforded by the Energy Sector Levy Act (ESLA) fund. According to him, the Energy Sector Levy was expected to generate GHS28 billion by 2022. On Eyewitness News, he argued that

Director of Research at the Institute of Economic Affairs’ (IEA) Dr John Kwakye has welcomed news that Ghana is establishing an integrated bauxite and aluminum industry, refining its gold, processing its cocoa. He described this as refreshing. President Nana Addo Dankwa Akufo-Addo has said at the 77TH session of the United Nations General Assembly on Wednesday September

President Nana Addo Dankwa Akufo-Addo has said at the 77TH session of the United Nations General Assembly on Wednesday September 21 that the African Continental Free Trade Area (AfCFTA), whose Secretariat is located in Accra, Ghana’s capital, is driving intra-Africa trade and creating an unparalleled momentum for our continent’s economic diversity and transformation. He said

The IMF has called on governments in sub-Saharan Africa to be cautious about macroeconomic reforms, as famine spreads in a region badly affected by the aftermath of Covid-19 and the war in Ukraine. “Addressing the lack of resilience to climate change and the resulting chronic food insecurity will require careful prioritisation of policies, given financial

Mozambique and the IMF team reached Monday a staff-level agreement on the economic and financial policies that could support the approval of the First Review of the program under the ECF arrangement. The ECF also known as Extended Credit Facility provides financial assistance to countries with protracted balance of payments problems. “All quantitative and structural

Nigeria’s total public debt rose 3% to $103.3 billion in the second quarter of this year, largely driven by local borrowing to finance the budget deficit, the Debt Management Office (DMO)said. Nigeria’s deficit has grown this year due to the high cost of a fuel subsidy at a time when oil revenue has fallen due

The International Monetary Fund (IMF) is set to conduct a “thorough update” of Ghana’s fiscal situation. This is coming after a sustainability assessment last year concluded the country required a “rigorous and credible” plan to “put debt on a declining trajectory and ensure continued market access.” A delegation from the Fund is expected in the

A Senior Director at ratings agency, Fitch, Mahin Dissanayake, has warned Ghana of a possible sovereign debt default, saying, any kind of debt restructuring could threaten the local banking sector. According to him, “default is a real possibility”. Speaking at a press conference, Mr. Dissanayake said “Ghanaian banks hold large volumes of government securities, so