The Nigerian economy is facing a massive foreign exchange crisis and the rate of depreciation of the naira has sparked serious concern among citizens. Since the Central Bank of Nigeria (CBN) banned sales of foreign exchange to Bureau de Change (BDC) operators, we have seen the parallel market exchange rate depreciate from N505/$1 to N570/$1
Energy think tank, the Institute for Energy Security (IES), has averred that the ongoing impasse between ENI Ghana Exploration and Production Limited – subsidiary of Italian oil major ENI – and Springfield Exploration and Production Limited, could prove costly for Ghana if not settled and allowed to end up in the International Court of Arbitration.
The International Monetary Fund is responding to the policy challenges of a fast-changing global economy still reeling from the COVID-19 crisis: it is modernizing the way it provides its regular policy advice to member countries—a process known as surveillance. The regular health check of members’ economies, known as the Article IV consultations, will continue to cover
With concerns over the rising public debt stock bringing the nation’s poor and porous revenue mobilisation mechanisms under increased scrutiny, calls have intensified for a review and reform of the existing tax regime – particularly policy provisions for tax exemption. One such reform – the introduction of a publicly accessible tax exemption repository, has received
The mention of mutual funds may befuddle the ordinary investor. Many regard it as esoteric. But mutual funds are a good way to invest as well as diversify one’s investment portfolio. It is an asset class that every investor should know of. This article briefly looks at investing in mutual funds in Ghana. The mention
Parliament, throughAct 1068 passed into existence the 1% Covid Health Recovery Levy on all goods and services consumed in the country. The 1% Covid Health Recovery Levy according to government is to help raise revenue to support Covid-19 related expenditure and also help improve the country’s current fiscal situation. The introduction and subsequent passage of the
Former Finance Minister, Seth Tekper says the present government does not have any excuse in failing to manage the Ghanaian economy well because it has better resources than the previous NDC administration did. According to Mr. Terkper, the Akufo-Addo administration is enjoying three oil fields, compared to one in the previous administration, whilst global oil
The teams focused their efforts on a few of the highest-value S&OP levers in order to review the current planning process, identify gaps in the planning infrastructure and analytically understand demand and supply variability.
A Former Minister of Finance, Mr Seth Terkper, has bemoaned the increasing number of tax handles imposed on the citizens in recent times. He said the country needed to understand that it could not tax its way out of expenditure overruns that were leading to high deficits, borrowing and debts. He said while taxes were
Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), made the following statement today regarding the Executive Board’s decision supporting the general allocation of Special Drawing Rights (SDRs): “The IMF Executive Board yesterday concurred in my proposal for a new general SDR allocation equivalent to US$650 billion – the largest allocation in the IMF’s