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    Gold exports push Ghana’s trade surplus to $1.3 billion in April

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    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Old Mutual celebrates 177th anniversary globally, 10 years in Ghana

    Gov’t expenditure needs to be checked to help deal with inflation – ICAG

    Take control of financing on the continent – Ofori-Atta to AfDB

    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

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    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

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    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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Finance Minister must reduce appetite for borrowing- Dr. Lord Mensah

bycitibusinessnews
January 30, 2017
in Government, Top Stories
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As the Finance Minister, Ken Ofori Atta officially assumes his office today; some financial observers have charged him to immediately reduce the appetite for borrowing.

According to some public finance experts, it is time for government to move away from directly growing the economy to allow the private sector to lead in economic growth while government creates a conducive environment for the private sector.

Speaking to Citi Business News, Economist Dr. Lord Mensah was of the view that lowering the appetite for borrowing will create a financial space for the private sector to access credit and grow.

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“The government should ensure that the borrowing aspect comes down, they should reduce their appetite for borrowing. I know as a developing country we need to grow, every developing country has an appetite for growth but you can slow it down a bit,” he said.

He stated that it is important for government to pursue such a fiscal policy since it will help create room for the private sector.

“When you lessen the borrowing you more or less going to force the private man to come up because as you increase your borrowing appetite what’s going to happen is that you are more of less increasing interest rates structures in the system and in the end, you are forcing the private man out of business because the private man will borrow at a higher cost”.

“The other businesses that have the money, the banks, will push the money to government through treasury bills and all that,” he added.

Dr. Mensah maintained that such a fiscal policy will help the private sector to grow by making available funds to businesses.

Cautioning against crowding-out the private sector, Dr. Mensah was of the view that the sector can lead economic development if granted the space.

–

By: Lawrence Segbefia/citibusinessnews.com/Ghana

 

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