The Economic Fighters League says it has been closely monitoring recent developments within the political landscape as prominent figures from the establishment defect to forge alliances with other movements, all aimed at challenging the entrenched dominance of the New Patriotic Party and the National Democratic Congress. The Fighters said they extend a warm welcome to […] The post 2024
According to the 2023 World Economics Governance Index study, Ghana is one of Africa’s top ten best-governed countries, ranking fifth behind Mauritius, Namibia, South Africa, and Botswana. Per the ranking, Ghana outperformed Senegal, Malawi, Lesotho, Burkina Faso, Togo, and Nigeria. Ghana scored a grade of B, and with an index of 61.7, secured the 5th […] The post Ghana ranked 5th best-governed
The Institute of Economic Affairs (IEA) has criticized the government for its poor macroeconomic performance from 2020 to 2022. During this period, Ghana experienced an economic downturn, with the government seeking a 3 billion bailout from the International Monetary Fund (IMF). Giving a post-analysis of President Akufo-Addo’s State of the Nation Address (SONA), on April […] The post Economic
By Buertey Francis BORYOR The Institute of Statistical Social and Economic Research (ISSER) of the University of Ghana has called for a review of the Special Drawing Rights (SDRs) allocation framework. The SDRs is an international reserve asset created by the IMF to supplement the official reserves of its member countries. ISSER proposed that allocations under SDRs, an international […] The post
Kwaku Kwarteng, Chairman of the Finance Committee of Parliament and MP for Obuasi West has attributed Ghana’s current economic crisis to decades of reckless public expenditure and mismanagement by successive governments. In an interview with Accra-based JoyNews, the Obuasi West legislator noted that COVID-19 and Russia’s invasion of Ukraine are not solely responsible for the […] The post Kwaku
…global players exploring opportunities within AfCFTA By Kestér Kenn KLOMEGÂH The scramble for the multidimensional control of the African continent by global players is a geopolitical reality. In order to be part of this geopolitical arena, foreign players have been devising different mechanisms for revitalizing partnership and strengthening cooperation with Africa, says Dr. Babafemi A. […] The post
By Rabah Arezki Before the outbreak of COVID-19, Africa experienced 25 years of uninterrupted economic expansion, prompting analysts to proclaim that the continent’s growth momentum was no longer dependent on its extractive industries. As access to education and health care increased, so did life expectancy, nurturing an “Africa rising” narrative. To finance their development needs, […] The post
The Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye, is calling on the government to adopt the US Inspector General (IG) system to help effectively fight corruption. Commenting on the New Patriotic Party’s flagbearer, Dr. Mahamudu Bawumia’s address on his vision to Ghanaians on Wednesday, February 7, Dr. Kwakye said […] The post Ghana
Ghana’s economic tapestry is rich yet challenged, marked by intricate financial dealings and the need for strategic manoeuvering. One such example is the GRA-SML deal, reflecting the complexities Ghana faces. Amid these economic intricacies, entrepreneurship education emerges as a beacon of hope, offering more than just employment opportunities, but a pathway to holistic economic rejuvenation. […] The post
The Economic Community of West African States (ECOWAS) has responded to the withdrawal of three member states – Niger, Mali and Burkina Faso from the Commission. A joint statement from the military rulers of these member states on Sunday, January 28 said, “after 49 years of existence, the valiant people of Burkina, Mali and Niger […] The post We are yet
as inflation eats away 92% of currency’s value since 2007 The cedi’s struggle to maintain value beyond the short term continues to raise concerns about the economy’s long-term transformation, financial expert Adjei Boateng has said. Mr. Boateng, a chartered financial analyst (CFA), highlighted the cedi’s significant devaluation, losing 91.6 percent of its value since the […] The post
Julius Malema, the Commander-In-Chief of the Economic Fighters Front (EFF), is set to arrive in Accra on 23rd January 2023, for a significant dialogue with the youth of Africa. The event, organized by AriseGhana, aims to provide Ghana’s youth with an opportunity to learn from Malema’s fervent activism and radicalism, as well as his unquenchable […] The post Julius
I had gone to find spare parts for my now ageing Toyota Fortuner vehicle at Abbosey Okai. I was highly amused listening to some of the submissions during a heated debate on how the cedi has depreciated against the major foreign currencies. As I haggled over the prices of the spare parts to fit my […] The post Random
The Member of Parliament for the Akim Abuakwa South constituency, Samuel Atta Akyea, has criticized individuals who blame Vice President Dr. Mahamudu Bawumia for the country’s economic woes. He acknowledged that the economy is not in its best form, describing it as ‘unkind’ and ‘cruel’ for anyone to attribute economic issues in the Akufo-Addo government […] The post It’s
The Member of Parliament for the Akim Abuakwa South constituency, Samuel Atta Akyea, has criticized individuals who blame Vice President Dr. Mahamudu Bawumia for the country’s economic woes. He acknowledged that the economy is not in its best form, describing it as ‘unkind’ and ‘cruel’ for anyone to attribute economic issues in the Akufo-Addo government […] The post It’s
The World Bank Deputy Chief Economist, Ayhan Kose, has said the global economy has been remarkably resilient, especially in the last year. Growth last year, he said, surprised on the upside, thanks to the US economy, the strength of the US economy. But, he further noted, some large emerging markets like India, Indonesia, Brazil, Mexico, […] The post There is global economic resilience
There was almost no growth in terms of global trade last year, the World Bank Deputy Chief Economist, Ayhan Kose, has said. The situation remains fragile going into this year, he added. In June 2023, he highlighted an ongoing global growth slowdown as a major concern to the Bank. Asked for the latest analysis of […] The post Global trade remains fragile – World Bank Deputy Chief
With misfortunes of the early 2020s finding their way into 2023, it is not uncommon for people to predict continued economic hardship in the new year of 2024. Two weeks into the new year and the Gaza Strip war has already escalated to epic proportions. Thus, it is not strange to expect doom on the […] The post Trade expert predicts
Fiscal space, in its simplest form, is the capacity of governments to adjust their revenue and expenditure policies to overcome economic shocks and foster growth. It is a precarious balance between short-term responsiveness and long-term prudence. It is essential to realise that fiscal space is not an abstract concept. It is tangible and can be created through […] The post
Introduction In accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921), the Minister for Finance presented the budget statement on behalf of the President on Wednesday, 15th November 2023. The 2024 budget is critical for the country as it tries to navigate the desire […] The post The 2024 budget and
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