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
58 Replies As of today, the five year constant maturity Treasury yield has stabilized for the last month at about 0.9%. The inflation breakeven implied by the spread between Treasurys and TIPS has plateaued at 2.52%. After accounting for the estimated term premium and liquidity premium, the implied inflation rate is 1.90% . Figure 1. Five year inflation
Executive Secretary of the Chamber of Petroleum Consumers Ghana (COPEC), Duncan Amoah, has accused the National Petroleum Authority (NPA) of unilaterally adding some Ghs 0.17 pesewas to the already Parliament approved Ghs 0.30 pesewas tax charge on fuel price as contained in the 2021 budget statement. In statement issued by the Chamber on Friday, April
Total liabilities recorded by the Central Bank for the year ended 2020, amounted to Ghs 115 billion. As contained in the Quarterly Statistical Bulletin released by the Bank and perused by norvanreports, the Central Bank’s liabilities on a year-on-year basis increased by some Ghs 35.6 billion, as liabilities recorded by the Central Bank at end-December 2019, stood
The African Centre for Energy Policy (ACEP) has proposed for the abolishment of the three per cent withholding tax on gold grade. According to a study conducted by the think tank, the implementation of the levy has been unsuccessful. It comes on the heels of a report by the Precious Minerals Marketing Company revealing that
KEY POINTS A group of 130 nations has agreed to a global minimum tax on corporations, Treasury Secretary Janet Yellen announced Thursday, part of a broader agreement to overhaul international tax rules. Yellen did not announce the actual rate at which the GMT would be set, but the Biden administration has pushed for at least
The World Bank is expressing worry that Ghana’s economy has begun to deindustrialize prematurely, according to its latest Ghana Economic Outlook Report. Traditionally, manufacturing is a marker of industrialization, but economic indicators show that the country’s economy may have begun to de-industrialize prematurely. “There are indications that Ghana has begun to deindustrialize prematurely. Traditionally, manufacturing
The demographic profiles of countries like Kenya, where a high percentage of people are young, would suggest that it’s swiftly renewing its workforce with fresh talent. But this doesn’t seem to be the case. We conducted a study in a public sector organisation three years ago. We found that the bureau had an ageing workforce.
Deputy Finance Minister-designate John Kumah has conceded that the Energy Sector Levy Act (ESLA) introduced by former Finance Minister Seth Terkper during the Mahama administration, has been helpful to the Akufo-Addo government in clearing a lot of energy sector-related debts. Now known as ESLA PLC, the company’s key objective is to resolve the energy sector
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.