Ghana’s Gross Domestic Product (GDP) growth rate according to analyst and founder for the Institute for Security Studies (ISS), Dr Jackie Cilliers will fall by 2 percent if the country’s external debt composition crosses 60 percent of its GDP. Ghana’s total debt stock as at March 2021 was Ghs 304.66 billion, but the debts tock then increased by Ghs
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
Tax expert with PFM Tax Africa, Seth Terkper, has opined that based on analysis and projections, government is very unlikely to attain its 16.7 percent tax revenue to Gross Domestic Product (GDP) target for this year. According to Mr Terkper, excluding the year 2015 when Ghana performed remarkably well in its tax revenue mobilisation achieving
The African Finance Ministers and the World Bank Group met today to fast track vaccine acquisition on the continent and avoid a third wave.In a boost to the African Union’s target to vaccinate 60% of the continent’s population by 2022, the World Bank and the AU announced that they are partnering to support the Africa Vaccine
After a careful study of the trajectory of the current and projected levels of government debts and deficits, the former Finance Minister, Seth E. Terkper has called for a ‘Special Deficit and Debt’ control program to curb or ameliorate what he described as a “looming fiscal crisis.” Readers will recall that just some few days
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.
Minister for Finance, Ken Ofori-Atta, has made a justification for the sudden rise in the country’s public debt stock as a ratio of Gross Domestic Product (GDP). Speaking at a presser on Sunday, May 9, following the massive social media campaign dubbed #FixTheCountry by which the Ghanaian youth are demanding for good roads, quality education,
Parliament’s Minority Leader, Haruna Iddrisu, has taken issue with the practice whereby the Auditor General publishes his audit reports even before the Legislature gets the opportunity to scrutinise them. Though he acknowledges that the practice is backed by law, the Tamale South MP laments that the practice has dire implications on people’s reputation and dignity.
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
irst Deputy Governor of the Bank of Ghana (BoG), Dr Maxwell Opoku-Afari, has said the Business Sans Borders (BSB) project between Singapore and Ghana is a game-changer in the BoG’s efforts to drive financial sector activity and inclusive SME development in the country. According to the First Deputy Governor, the ability of the BSB to change financial sector