The International Monetary Fund (IMF), has expressed worry over Ghana’s rising debt stock noting the country has to implement some drastic measures to contain the debt situation. Addressing the issue, Director of the African Department of the IMF, Abebe Amero Selassie, adviced government that it revise some of its debt sustainability programmes. “Our engagement with
The Yapei-Kusawgu MP, John Abdulai Jinapor says the Akufo-Addo-led administration’s revenue target is simply unattainable. The former Deputy Energy Minister based his comments on the inability of government to meet any of its revenue targets in the past four years. According to him, government’s projection of adding about ¢20 billion more to Ghana’s current tax
President of the World Bank Group (WBG), David Malpass, has described as problematic Ghana’s fast rising fiscal deficit. According to him, should Ghana’s fiscal deficit continue on an elevated path, the country would face access problems to market-based finance (capital market) as witnessed in other middle-income countries. “Many of them (middle-income countries) face access problems
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.
Ghana has lost its status as a Middle-Income Country (MIC). This follows the reclassification of the country as a Low-Income Country (LIC) by the International Monetary Fund (IMF) in its April 2021 Fiscal Monitor Report. According to the IMF, it no longer recognises Ghana as a MIC despite achieving the status in 2010. The downgrade
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
Government is expecting to realize roughly US$886 million as petroleum revenue for 2021. This was announced by the caretaker Finance Minister and Minister of Parliamentary Affairs, Mr. Osei Kyei-Mensah-Bosnu during the 2021 budget presentation in Parliament on Friday, March 12, 2021. The amount is made up of royalties of US$201.0 million, Carried and Participating Interest
The first full sovereign credit rating of Ghana for 2021 was delivered last week, and it left rating sentiment unchanged from last year. This came from global credit rating firm Moody’s Investor Services rating the country’s sovereign bond issuance at B3 negative, exactly the same as last year when the firm downgraded Ghana from B3 stable
The Bank of Ghana (BoG) is exploring the launch of a Central Bank Digital Currency. This is according to the Second Deputy Governor of the BoG, Mrs Elsie Awadzi Addo. Speaking at the virtual regional capacity building workshop organized jointly by IMF’s AFRITAC West 2 and Monetary and Capital Markets Department (MCM), Mrs Awadzi Addo
Growth through innovation/creativity. Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.