Vice President of Imani Africa, Bright Simons has said it has become critical for more public sector borrowing in order to survive as a country. According to him, the country’s fiscal space is currently under enormous fiscal pressure, a situation he believes makes a strong case for the country to borrow in order to survive.
Growth through innovation/creativity. Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
India, Nigeria’s largest destination for oil exports, has suffered a drop in oil imports by 7% to 3.9 million barrels per day (BPD), paving the way for lower government revenues for the next couple of months. This is because the country represents 16.79% of Nigeria’s total revenue generated from exports in the first quarter of
Osei Kyei-Mensah-Bonsu, Majority leader in Parliament, has said that total crude oil production for the 2020 fiscal year was 66.9 million barrels as compared to 71.4 million barrels of production in 2019. He said the National Petroleum Corporation was able to transport over 88.4 standards cubic fit of gas to the Ghana National Gas company
The 2021 African Development Bank Group Annual Meetings, held virtually starting on Wednesday, opened with discussions on African debt management. The pandemic has created huge financing needs for governments, widened budget deficits and driven governments into debt. On Wednesday, the African Development Bank hosted panel discussions on the issue. One knowledge event was titled “From
Former finance minister, Seth Terkper, has called on government to, as a matter of urgency, take the US$1 billion Special Drawing Rights (SDR) allocation by the International Monetary Fund (IMF) to parliament for approval on how to spend it to ensure proper accountability. His comments come on the back of the finance minister, Ken Ofori-Atta, reportedly
An energy expert and analyst says the Finance Ministry has contributed to the intermittent power outages the country is presently experiencing. Kojo Opoku told Evans Mensah on Joy FM’s Top Story Thursday that most often in the discourse of energy crisis, the Finance Ministry is barely introduced into the picture. According to him, “the Finance
Kenya could register a small primary surplus in 2023-2024, the first in two decades, buoyed by an economic recovery after the coronavirus pandemic, according to the World Bank. The primary deficit, which excludes interest payments, could come in at 4.6% of gross domestic product in the fiscal year through June, and swing to a 0.3%
The World Bank is expressing worry that Ghana’s economy has begun to deindustrialize prematurely, according to its latest Ghana Economic Outlook Report. Traditionally, manufacturing is a marker of industrialization, but economic indicators show that the country’s economy may have begun to de-industrialize prematurely. “There are indications that Ghana has begun to deindustrialize prematurely. Traditionally, manufacturing
The president of the African Development Bank (AfDB), Dr. Akinwumi Adesina on Wednesday said that the bank will support the African Continental Free Trade Area (AfCFTA) with $208 billion, as part of its contribution towards stimulating investment in Africa. “We remain highly committed to the success of the AfCFTA. As we look to the African