High dollar demand sees BoG’s forex auction oversubscribed by 325% The Bank of Ghana [BoG] in its forex forward rates auction on Tuesday, November 30, exceeded its target of raising $40 million. The Central Bank at the end of Tuesday’s auction received bids totalling $170.2 million from banks and businesses for its forex although it was only

Nigeria attracts $9.22 bn diaspora remittance in H1 2021, increases by 16% Diaspora remittances into Nigeria increased by 15.6% QoQ to $9.22 billion in H1 2021 compared to $7.98 billion recorded in the second half of 2020. It also represents a marginal 2.2% increase compared to $9.02 billion recorded in the corresponding period of 2020.

Economic Governance Platform discuss private sector’s contribution to poverty reduction post-Covid The Economic Governance Platform (EGP) has held a roundtable discussion on the economic growth pathways through which the private sector can contribute to the acceleration of poverty reduction in the post Covid-19 recovery period. The Economic Governance Platform is the foremost coalition of CSOs focused on ensuring

Auditing firm PwC is warning that government’s decision to mainly finance its 2022 fiscal deficit from domestic borrowing could prevent local businesses from accessing funds to expand their operations. In the 2022 budget presented to parliament by the finance minister, government is seeking to fund its projected fiscal deficit of 7.4 percent of GDP through

Should be temporary even if implemented Contrary to government’s defence for introducing the Electronic Levy (E-levy) – that it will expand the tax base, auditing giant Deloitte says that may not necessarily happen, as the move will rather erode gains chalked up by the mobile money platform. Finance Minister Ken Ofori-Atta indicated that the main

“I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle” – Winston S. Churchill. In a bid to widen the nation’s tax net and rope in the informal sector, a 1.75% electronic transaction levy (e-levy)

he Central Bank has increased its policy rate by 100 basis points. With the 100 basis points increment, the Bank’s new policy rate stands at 14.5% and marks the CentraI Bank’s decision to return to the 14.5% policy rate after it initially reduced it by 150 basis points from 16% in March 2020 as part

Inconsistent reporting poses additional risk for the poorest countries. At a time when sovereign debt in the poorest countries has surged to dangerously high levels, global and country-by-country systems for tracking it are proving to be inadequate. These gaps make it harder to assess debt sustainability and for overindebted countries to restructure debt promptly and