Last week, the latest Fiscal Monitor report from the International Monetary Fund, dated April 2021, generated headlines across Ghana for one reason – it put Ghana’s fiscal deficit for 2020 at 16.0 percent which is considerably higher than the 11.7 percent claimed by the Government of Ghana. Last week, the latest Fiscal Monitor report from

The exchange rate between the naira the US dollar closed at N411.25/$1 at the Investors and Exporters window, where forex is traded officially. Naira depreciated against the US dollar on Friday, having lost 55 kobo to close at N411.25/$1 compared to N410.7/$1 recorded on Thursday, 1st July 2021. The local currency fell at the official

Cryptocurrencies have been tipped to revolutionalize remittances to developing countries as they promise lower service fees than cash transfers. Experts at Trust Payments hold that apart from lower fees, cryptocurrencies, as a means of money transfers across borders, has other advantages over cash. The advantages include the fact that cryptocurrencies are decentralize money, provide better

Ghana is set to commence the piloting of its electronic currency by September this year. This was disclosed by the First Deputy Governor of the Bank of Ghana, Maxwell Opoku-Afari. According to him, the introduction of the Central Bank’s Digital Currency (CBDC) is crucial as the pandemic has quickened the drive towards a cash-lite economy

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

Ahead of the presentation of the 2021 mid-year budget review today, Thursday, July 29, 2021, Energy Consultant, Dr. Yussif Sulemana, says he expects the government to review some taxes introduced in the petroleum sector. He argues that as oil prices on the global market continue to surge, the government stands to make up for any

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’s public debt as a percentage of Gross Domestic Product (GDP) according to the International Monetary Fund (IMF) currently stands at 78 percent. The figure presented by the IMF in its May 2021 Article IV Consultations paper is in contrast to the 76.1 percent quoted by government official sources such as the Ministry of Finance

Government fiscal deficit to Gross Domestic Product (GDP) at the end of July 2021 was estimated at 6.1%, higher than the budgeted target of about 4.5%. This is compared with 7.4% of GDP during the same period last year. According the Bank of Ghana’s Summary of Economic and Financial Data, Total Revenue and Grants in

The deficit in Nigeria’s infrastructure has brought a heavy cost to the economy. For instance, congestion due to poor port and associated transport infrastructure has created losses of N3.5 trillion at Nigeria’s maritime logistic hubs, according to a March 2019 report by the research group, African Centre for Supply Chain (ACSC). These losses are set to