Allowing for more exchange rate flexibility can help reduce FX borrowing needs, as well as lower the FX risk premium in domestic interest rates, the International Monetary Fund (IMF) has recommended. “Greater exchange rate flexibility, with interventions limited to smoothing sharp fluctuations, can help reduce FX borrowing needs as well as lower the FX risk
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.
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,
The country’s banking sector holds half of the country’s domestic debt – meaning the financial sector has become more comfortable investing in government instruments than lending to the private sector, a situation that a financial analyst says is a threat to the recovery plan. According to the Bank of Ghana’s statistical bulletin (May) report, out
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.
Many countries are experiencing a combination of high public debt and low interest rates. This was already the case in advanced economies even prior to the pandemic but has become even starker in its aftermath. A growing number of emerging market and developing economies are likewise enjoying a period of negative real rates—the interest rate minus
The Ghana Association of Bankers wants government to find other ways of addressing the high fiscal deficit, rather than targeting the banking sector with new tax introduction. “As an industry, we believe that if we [the banking industry] have this huge fiscal deficit, we must have a plan to address it.” “We believe we have
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 collective debt of African countries according to the African Development Bank (AfDB), now stands at 70 per cent of the continent’s Gross Domestic Product (GDP). Speaking at the launch of the African Development Bank’s 2021 edition of its annual African Economic Outlook, President of the AfDB, Dr Akinwumi Adesina, called for a quick and
The wind of Central Bank Digital Currency (CBDC) is currently blowing across the globe with major Central Banks in the process of developing systems that will support digital money. China is testing a digital renminbi version, whereby customers can transact payments over their mobile phones. Europe announced the launch of a digital Euro as part of their