Tag: IEA
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IEA casts doubt on robustness of Ghana’s IMF programme
The Institute of Economic Affairs has described the Extended Credit Facility IMF bailout offered Ghana as a “straitjacket” programme which has rendered the managers of the nation’s economy with limited innovative economic ideas to turn the ailing economy around. Ghana received the first tranche of the IMF cash on Friday, May 19 after successfully embarking…
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Ghana’s debt level frustrating businesses, individuals – IEA
The Institute of Economic Affairs (IEA), a public policy think-tank, has described Ghana’s current debt, which is being restructured, as “disheartening and frustrating”, to businesses and individuals. As a result, the Institute has advised Government to take action to swiftly conclude the debt restructuring process to secure the US$3 billion loan-support programme with the International…
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Use 2023 Budget to lay foundation for long-term sustainability – IEA to Gov’t
Government is being urged to use the 2023 Budget and Economic Statement to help chart a new path and restore macroeconomic stability for the country. This, the Institute of Economic Affairs believes this will help build back the Ghanaian economy. The Institutes call comes as the country is experiencing one of its worst economic crises…
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IEA welcomes BoG’s endorsement of proposal to cap government borrowing
The Institute of Economic Affairs (IEA) has welcomed the Bank of Ghana’s endorsement of its proposal to cap government borrowing to help rein in the public debt. As part of his press briefing on Thursday, 6th October, 2022 on the decision of the Monetary Policy Committee, the Governor is reported to have said that he…
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MPC likely to maintain policy rate at 13.5% – IEA
The Institute of Economic Affairs, IEA, has ruled out the possibility of a change in the policy rate to be announced by the Bank of Ghana. This, the IEA says is as a result of calls from President Akufo-Addo and other stakeholders within the financial sector for a relook at the lending rates being charged…
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African countries must jointly negotiate with China for better deals – IEA
The Institute of Economic Affairs (IEA) says African countries must begin collaborative negotiations when doing business with China. According to the Civil society Organisation, this move would give countries on the continent better leverage in their deals with the Asian country. China continues to be a major business player with most African countries. Ghana for…
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Comprehensive policies needed in post COVID-19 recovery – IEA
The Institute of Economic Affairs (IEA), says properly coordinated and comprehensive policies are required to ensure a post-COVID-19 pandemic recovery. It says the recovery would be difficult and protracted as the pandemic has caused extensive disruption to Ghana’s economy, severely affecting businesses, jobs and livelihoods. The IEA, in its summary of policy initiatives to government,…
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Transition to renewable energy not an European solution, it’s in Africa’s interest – IES
The energy landscape’s transition to renewables is a global panacea for the high energy cost and sustainable development, and not a European solution. Policy makers in Africa must as part of the exploitation of fossil fuels consider also the abundant renewable energy resources, freely at their disposal. Countries in the West and the oriental have…
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Developing countries could lose up to 85% of oil & gas income in 2020 – OPEC, IEA warn
Developing countries’ oil and gas income could fall to their lowest levels in more than two decades if current energy market conditions persist, the International Energy Agency, (IEA), and the Organization of the Petroleum Exporting Countries (OPEC) have warned in a rare joint statement. IEA Executive Director, Fatih Birol, and OPEC Secretary General Mohammed Barkindo,…
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IEA urges transparency in awarding oil contracts
The Institute of Economic Affairs (IEA) has advocated increased disclosure of oil contracts and licenses if the government is to be transparent with Ghanaians on developments in the oil industry. This follows a latest accountability and transparency index (P-TRAC) report which focuses on the management of Ghana’s petroleum resources. The survey assessed the level of…