Soaring natural gas prices are rippling through global energy markets—and other economic sectors from factories to utilities. An unprecedented combination of factors is roiling world energy markets, rekindling the memories of the 1970s energy crisis and complicating an already uncertain outlook for inflation and the global economy. Energy futures indicate that prices are likely to
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
A proposed $50-billion trust fund could help low-income and vulnerable middle-income countries build resilience to balance of payments shocks and ensure a sustainable recovery. Even as countries continue to battle COVID-19, it is crucial not to overlook the longer-term challenge of transforming economies to become more resilient to shocks and achieve sustainable and inclusive growth.
The Institute of Economic Affairs (IEA) has proposed restructuring the nation’s external public debt, as well as introducing borrowing- or debt-ceilings in the annual Appropriations bill, among other measures, to arrest the nation’s ever-increasing debt stock – which has long breached the prudent 70 percent debt-to-GDP threshold for a lower-middle-income country. This was contained in
Government has witnessed a significant increase in revenue generated from the country’s downstream petroleum sector due to the improved monitoring of in-flows and out-flows at the various oil marketing company depots nationwide. Within a period of ten months, the monitoring service being provided by a private revenue assurance firm; Strategic Mobilization Ghana Limited, SML, raked
The Minister designate for Finance, Mr Ken Ofori-Atta, has said no wrong was committed in the Agyapa Royalties Transaction. He said the then Special Prosecutor, Mr Martin Amidu, did “a disservice” to Ghana’s democracy by releasing his Corruption Risk Assessment on the Agyapa Transaction without a response from the Ministry of Finance. Responding to questions
Director of Research for the Institute of Economic Affairs (IEA), Dr John Kwakye, has made calls for transparency on the country’s financial and energy sector debts as a component of the country’s overall public debt stock. The call by the Institute, Dr Kwakye explains, would aid in dispelling the notion of concealment of the debt burden of
The International Monetary Fund (IMF), will be be making available to Ghana, an additional $1 billion Rapid Credit Facility (RCF) funds to continue its fight against the Covid-19 pandemic when a formal request made by its Managing Director, Kristalina Georgieva, is granted by the institution’s Board of Governors. Ms Kristalina Georgieva, last week appealed to
Nigeria attracts $9.22 bn diaspora remittance in H1 2021, increases by 16% Diaspora remittances into Nigeria increased by 15.6% QoQ to $9.22 billion in H1 2021 compared to $7.98 billion recorded in the second half of 2020. It also represents a marginal 2.2% increase compared to $9.02 billion recorded in the corresponding period of 2020.
Sovereign spread above 1,000 points, highest since April 2020 Dollar bonds have worst start to 2022 among emerging markets As the era of cheap money draws to an end, bondholders are no longer prepared to cut Ghana any slack. The West African nation’s dollar bonds have slumped 10% in 10 days, moving deeper into distressed