As the finance minister engages stakeholders in preparing the 2022 national budget, civil society organisation ‘Economic Governance Platform’ (EGP) has advised government to make debt sustainability a key factor in its economic policy going forward. The group made the call after releasing a report that assessed the country’s growing debt stock – calling for stringent
Governor of the Bank of Ghana, Dr. Ernest Addison, is urging government to use the 2022 budget to reset fiscal policy and create a more credible path towards medium term fiscal sustainability. According to him, this is crucial to accelerate financial stability for the country. Speaking at the 10th edition of the Ghana Economic Forum
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
International credit rating agency, Fitch Ratings, says Ghana will have no other choice than to opt for an IMF financing should the country’s liquidity or financing needs continue to increase. According to Fitch Ratings, despite the government’s resolve to not go back to the IMF and pursue a regular IMF programme due to the conditionalities
Almost all commodity prices recovered in the third quarter following steep declines earlier in the year due to the COVID-19 pandemic. Crude oil prices have doubled since their April low, supported by sharp oil supply cuts, but prices remain one-third lower than pre-pandemic. Metal prices recovered rapidly in response to a faster-than-expected pick up of China’s industrial
The Nigerian federal government spent a total of N1.8 trillion on debt servicing in the first five months of the year, representing about 98% of the total revenue generated in the same period. This is according to the budget implementation report presented by the Minister of Finance, Budget & National Planning, Mrs Zainab Shamsuna Ahmed.
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.
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
Policymakers may need to react by pulling multiple policy levers, depending on Fed actions and their own challenges at home. For most of last year, investors priced in a temporary rise in inflation in the United States given the unsteady economic recovery and a slow unravelling of supply bottlenecks. Now sentiment has shifted. Prices are
Professor of economics at the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey has stated that the establishment of the National Development Bank will have no positive impact on the growth of the economy if government fails to apply proper business management in its operations. The establishment of the bank which has