Tag: Economic recovery
-
AfDB projects inflation to remain above 44.7 percent until 2024
The African Development Bank (AfDB) is projecting that Ghana’s inflation rate will anchor at 44.7 percent for year ending 2023. According to the AfDB, interest rate is also to remain above 25%. This projection is coming on the back of a three-month continuous increase in inflation to 43.1% in July 2023. This projection is contained…
-
Govt revises macroeconomic targets downwards: Real GDP growth adjusted to 1.5%
Finance Minister, Ken Ofori-Atta, during the presentation of the 2023 mid-year budget review today, July 31, announced significant revisions to the country’s macroeconomic and fiscal frameworks. The revision aims to align with the targets of the IMF-supported PC-PEG due to recent developments and global economic conditions. Notable revisions include a decrease in overall Real GDP…
-
Govt to receive $6.2bn from multilateral partners – Ofori-Atta
Finance Minister, Ken Ofori-Atta has disclosed that the government is expected to receive about $6.2 billion from its multilateral partners between 2023 and 2026. While briefing the nation on the economy at the Ministry of Finance on Sunday, June 18, the Minister disclosed the government has come up with Ghana’s Post-COVID-19 Programme for Economic Growth…
-
We’re doing everything possible to resolve economic crisis – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has assured that his government is working tirelessly to deal with the current economic mess. Addressing workers during this year’s May Day celebration in Bolgatanga, the President said his government is assiduously engaging the International Monetary Fund (IMF) to secure board approval for Ghana’s $3 billion bailout request to bring…
-
Fast track processes to get IMF Board’s approval on bailout deal – Economist urges
Economist and currency analyst at GC Capital Limited, Courage Boti wants the government to expedite steps aimed at getting International Monetary Fund’s Board approval on the bailout programme. Having reached a Staff Level Agreement with the Fund for a US$ 3 billion bailout, government is eyeing an IMF Board approval in the first quarter of…
-
Prudent financial policies stabilising economy – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has attributed the appreciation of the cedi against the dollar to the prudent financial decisions the government has taken to revive the economy. He said the staff-level agreement with the International Monetary Fund (IMF) and the improvement of forex inflows from remittances among others will later yield more positive results…
-
Ofori-Atta: $3bn IMF deal will help tackle inflation, strengthen cedi
The Finance Minister, Ken Ofori-Atta, has hailed the Staff-level Agreement with the International Monetary Fund for a new three-year arrangement under the Extended Credit Facility (ECF) of about US$3 billion. The agreement was reached after several months of talks between Ghanaian government officials and authorities of the IMF. Addressing Journalists at a press conference on…
-
I’m ready to offer my expertise for free to solve Ghana’s economic woes – Dr. Duffuor
A former Minister of Finance, Dr. Kwabena Duffuor says he’s ready to offer his expertise on macroeconomics free of charge to help Ghana’s ailing economy to bounce back. He said he will jump on the request anytime the government calls him to offer voluntary services that will bring relief to Ghanaians. “I am ready to…
-
There is more to be done to revive the Cedi – Economist Patrick Asuming
An Economist Dr. Patrick Asuming has stated that although the cedi has slowed down its depreciation against major trading currencies, there’s still more government needs to do to stabilize it. The rate of depreciation of the Ghana cedi to the US dollar slowed down on Tuesday, following weeks of free fall as the government takes…
-
All hands must be on deck to bring Ghana’s economy back on track – BoG
With the world economy, including Ghana’s, dealing with the aftershocks of the COVID-19 pandemic and the challenges being posed by the ongoing Russia-Ukraine war, stakeholders in Ghana including the government, the Bank of Ghana, businesses as well as the media are being charged to actively and effectively play their roles to build confidence and facilitate…