Despite geopolitical tensions, meaningful cooperation on trade remains possible “Globalization is a fact of life. But I believe we have underestimated its fragility,” United Nations Secretary-General Kofi Annan told the World Economic Forum almost a quarter century ago. Today, the fragility of the liberal international trading system that has underpinned peace and prosperity since the

In mid-May 2023 the International Monetary Fund (IMF) finally approved a US$3 billion 36-month arrangement with Ghana. It immediately disbursed the first tranche of US$600 million. This is the second time in the past eight years that the country has approached the IMF. And it’s the 17th time since independence in 1957 – that’s roughly once every

In a resounding call to action, Seth Terkper, former Finance Minister of Ghana, has urged the government to capitalize on the upcoming mid-year budget to embark on ambitious fiscal reforms that will create an environment conducive to increased private sector investment. Terkper’s warning about the waning confidence among the business community, primarily due to high

The African Union’s flagship Agenda 2063 initiative prioritises large-scale infrastructure development and promises to “link the continent by rail, road, sea and air”. This is being undertaken in parallel with efforts to improve economic integration. In 2021, the 54 countries on the continent made history when they began trading within the African Continental Free Trade Area. It is the largest

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has opted to keep the key monetary policy rate unchanged at 29.5 percent, citing rapid easing of underlying inflationary pressures and decreasing inflation expectations. This decision comes amid calls from the International Monetary Fund (IMF) for the central bank to maintain a tight monetary

A knowledge partner of the 7th CEO Summit, Deloitte Ghana, has urged government to leverage the International Monetary Fund programme to develop a long-term growth agenda for the country. This, it believes, is crucial in an effort to wean the economy off significant donor dependence in the medium- to long-term. “Use the IMF programme as

The government has initiated processes to restructure the Internal Audit Agency to effectively prevent financial irregularities in the public sector, Director-General of the Internal Audit Agency, Dr Eric Oduro Osae, has disclosed. The move is part of measures to ensure judicious utilisation of the International Monetary Fund’s (IMF) US$3billion three-year-extended-credit-facility for the country, he stated.

The International Monetary Fund has pointed out that a successful implementation of the Government of Ghana’s debt restructuring strategy is not by itself sufficient to regain market access. According to its Staff Report on Ghana, there is also a need to restore market confidence in the sustainability of Ghana’s economic policies, which requires significant fiscal