Atuahene calls on gov’t to pay debt owed sector A new report by the Bank of Ghana has shown a worrying trend of growing non-performing loans in the assets of commercial banks, a situation banking consultant Dr. Richmond Atuahene blames on challenging economic conditions and government debt owed the private sector. The summary of Economic
World Bank’s cumulative fiscal support to Ghana’s Covid-19 response reaches $435.8m Fiscal support provided by the World Bank in Ghana’s response to the Covid-19 pandemic has reached $435.8 million. According to the World Bank’s Country Director for Ghana, Liberia and Sierra Leone, Pierre Laporte, fiscal support to the country has been along five strategic pillars which are;
The Debt Service Suspension Initiative (DSSI) instituted by the Group of Twenty (G20) has been further extended to the end of 2021. The extension of the DSSI initiative was agreed on by the G20, the International Monetary Fund (IMF) and the World Bank at the ongoing IMF/World Bank 2021 Spring Meetings. Welcoming the extension, President
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.
Edo modular refineryThe Bight of Benin is metaphorical of the economic exploit of the ancient empire before the greed of Europe vanquished the empire. Their visit and subsequent attack blighted the unequalled economic adventure of the ancient kingdom. Notwithstanding the European invasion and the epic battle for the economic soul of the empire, the modern
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.
Former Finance Minister Seth Terkper has urged government to use part of the Special Drawing Rights (SDR) money from the International Monetary Fund (IMF) to pay off the zero-coupon sovereign bond it issued earlier on in the year, as waiting for it to mature will be more expensive to the state. The IMF last month
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 Bank of Ghana (BoG) has auctioned its own bills or short-term securities worth Ghs 5 million. The short-term security with a maturity period of 56 days was auctioned by the Central Bank on Monday, May 24, 2021. Per the auction results released by the BoG, it is unclear the value of bids made by
The COVID-19 pandemic has caused an unprecedented health, economic, and social crisis. It is threatening the lives and livelihoods of millions, increasing poverty and inequality, and reversing development gains. To move toward a global recovery will require sustained, differentiated, and targeted financial and technical support to governments and the private sector. These were key messages