Tag: EIU
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Ghana’s economic growth to suffer slowdown in 2023 – EIU warns
The Economist Intelligence Unit predicts that Ghana’s GDP growth rate will drastically slow to 1.3% in 2023, due to rising prices and monetary tightening leading to a contraction in domestic demand. This is lower than the projections of the World Bank and the International Monetary Fund. The slowdown will result in reduced consumption and sustained…
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EIU predicts delay in IMF Board approval for Ghana
Ghana’s hope of securing an International Monetary Fund board approval soon is expected to delay owing to prolonged external debt-restructuring negotiations, and the involvement of numerous stakeholders in the process. This is according to London-based economic and political analyst, the Economist Intelligence Unit (EIU). The EIU in its 2023 Country Report on Ghana, stated that…
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EIU’s prediction on local currency is over-ambitious – Economist
Economist with Databank, Courage Boti has described the projection made by the Economist Intelligence Unit (EIU) on the local currency as somewhat over-ambitious, given the current economic conditions and the instability of the Ghana cedi in recent times. In its latest assessment of the Ghanaian economy, the London-based organisation projected a further weakening of the…
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Local currency to hit GHS7.87 against the dollar by end of 2022 – EIU Report
London-based economic and political analysis firm, the Economist Intelligence Unit (EIU), has predicted that the Ghana cedi will hit GH¢7.87 to $1 by the end of this year. This comes months after the cedi experienced some depreciation against the dollar in the first quarter of the year 2022. Already, data from the Central Bank shows…
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EIU predicts shutdown of investment banks this month
Economist Intelligence Unit (EIU) a global business intelligence provider is predicting a number of struggling investment banks will be shut down this month by the Securities and Exchange Commission. SEC has been probing a number of investment firms for the misapplication of some GH¢5 billion in risky investments. Deputy Director-General at the Securities and Exchange…
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GAWU rejects reduction of cocoa prices in Ghana
The General Agricultural Workers’ Union (GAWU) has opposed suggestions that government reviews downwards the producer price for cocoa to offset any drop in revenue from the cash crop. GAWU fears any such move will have dire implications for the cocoa sector and distort economic plans for the year. The Economist Intelligence Unit (EIU) has warned…
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Mixed reactions meet GH¢6 to $ 1 prediction
There are mixed reactions to the prediction that the cedi will depreciate to 6 cedis to a dollar by 2022. The Economist Intelligence Unit (EIU) based in the UK, has predicted that the local currency will perform poorly against the dollar within the next four years due to some external pressures and political uncertainties. But…