Tag: Courage Martey
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Economist advocates targeted fiscal policies to help deal with rising inflation
Economist with Databank, Courage Martey, believes the time for targeted fiscal policy interventions like subsidies for key sectors like Agriculture to check the rising rate of food prices which feeds into food inflation and national inflation is now. While the contribution of food and non-alcoholic beverages to national inflation saw a reduction by 1.6 percentage…
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20% quarterly expenditure ceiling will enhance credibility of 2022 budget – Economist
Economist Courage Martey has stated that the government’s move to reduce the quarterly expenditure ceilings across the board for all covered entities benefiting from the 2022 Budget by 20% beginning 2022 quarter one, will enhance the credibility of the 2022 budget. The Minister of Finance, Ken Ofori-Atta, earlier this month announced that, in a prudent…
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Gov’t urged to use the 2022 budget to stimulate production activities in the country
The government is being urged to use the 2022 budget statement and economic policy to introduce supply-side initiatives that will stimulate production. According to economist Courage Martey, an improvement in domestic production will go a long way to mitigate the rising rate of inflation. The year-on-year inflation rate for October 2021 hit 11 percent, according…
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Rising inflation may adversely affect purchasing power of consumers – Economist
Economist with Databank Courage Martey says the rising level of inflation if unchecked could impact the purchasing power of Ghanaians. The current year-on-year inflation rate of 10.6% for the month of September is the highest since July 2020 and higher than the government’s end of year target of 8 percent. For four months in a…
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Cedi likely to experience further marginal depreciation this year – Economist
With exactly four months to the end of the year 2021, the Ghana Cedi is expected to experience some further marginal depreciation against the U.S Dollar, following a recent period of weakening. After showing a rare determination to shed only about 3.8 percent of its value against the US dollar last year, the local currency…
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Economist calls for prudent spending as IMF’s $1 billion SDR allocation hits BoG’s account
Sources at the Bank of Ghana have confirmed to Citi Business News that the $1 billion dollars interest-free money expected from the International Monetary Fund (IMF) as part of the Special Drawing Rights (SDR) program, has hit the accounts of the Bank of Ghana. The Board of Governors of the IMF at the start of…
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Economists back calls by IMF for gov’t to prioritize progressive revenue mobilizations
Some economists have backed calls by the International Monetary Fund (IMF) for government to prioritize progressive revenue generation. According to them this will ensure that the rich in our society are made to pay taxes and levies which are commensurate with the value of their assets as well as their income. The International Monetary Fund…
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Economists back calls by IMF for reduction in Ghana’s rising debt
Some economists in have backed calls by the International Monetary Fund (IMF) for Ghana to take immediate steps to reduce the country’s debt and debt servicing burden. The International Monetary Fund Staff Mission to Ghana, in its concluding statement following a visit to the country from April 28 to May 12, 2021, for the 2021…
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Policy rate likely to be maintained for 6th time over high inflation – Economists
The Bank of Ghana is likely to announce a stay of the Monetary Policy Rate for a 6th consecutive time later today, Monday, March 22, 2021. This assertion was made by some economists who have been sharing their view on Ghana’s economic outlook with Citi Business News. The rate which is of keen interest to…
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Foreign inflows and BoG measures will see cedi depreciate by 4% in 2021 – Economist
Renewed inflow of foreign portfolio investment coupled with some measures by the Bank of Ghana such as the forex forward auctions should see the Cedi depreciate marginally by about 4 percent for all of 2021. That’s according to an economist with Databank Courage Martey. After depreciating by more than 8 percent and 12 percent against…