The International Monetary Fund (IMF) has urged the Bank of Ghana (BoG) to maintain a tight monetary policy stance given upside risks to inflation while doing more to advance the Fund’s advice on safeguards. According to the Fund, a tight policy stance, supported by robust liquidity absorption operations, is warrantedContinue Reading
Ghana spent 42% of its revenue to servicing debt between 2017 and 2022, according to the 2024 United Nations report on Unpacking Africa’s Debt. This marks a significant increase compared to the 2010–2016 period, during which 27% of Ghana’s revenue was used to service debt. The 15-percentage-point rise in debt servicingContinue Reading
Fitch Ratings expects the outlook for sub-Saharan African sovereigns to be neutral in 2025. This the UK-based firm says will reflect a stronger macroeconomic outlook and modest fiscal consolidation balanced against still-challenging financing conditions and political and insecurity risks. It forecasted Gross Domestic Product (GDP) growth rate to improve drivenContinue Reading
Ghana’s 2023 external position was moderately stronger than the level implied by fundamentals and desirable policies. Against the backdrop of fiscal consolidation, the International Monetary Fund said strong gold exports, deferred external interest payments and high remittances the Cumulative Assessment narrowed noticeably. “Strong reserve accumulation through the gold-for-reserves program ledContinue Reading
For Ghanaian passengers desiring home cooking on board the ACC-JFK route, Delta Air Lines provides the comfort of local flavors modified by customer feedback in flight, just in time for holiday travel. Local Emphasis Delta partners with local chefs and catering stations in Ghana to ensure that the food servedContinue Reading
African banks will remain exposed to domestic and global operating environment risks in 2025, Fitch Ratings has disclosed. It pointed out in its African Banks Outlook 2025 report that while most countries are showing a good degree of resilience, a fall in commodity prices cannot be ruled out. It addedContinue Reading
The incoming NDC administration inherits a nation grappling with a multitude of economic challenges such as persistently high inflation, a weakened currency, rising public debt, and diminished public trust in financial institutions. Against this backdrop, the appointment of the next Governor of the Bank of Ghana is arguably one ofContinue Reading
As the festive season approaches, Zenith Bank Ghana has once again demonstrated its commitment to excellence and community development. The bank’s annual Light-Up Ceremony and Carols Night, held at Zenith Heights and the Kotoka International Airport Enclave, was a testament to its dedication to spreading joy and hope during theContinue Reading
President-elect John Dramani Mahama has expressed concerns about the health of Ghana’s economy stating that despite President Akufo-Addo’s optimistic outlook on third-quarter growth, the economy remains “very sick.” Speaking during a courtesy visit by the Ghana Pentecostal and Charismatic Council, Mahama stressed the critical need for reforms in the energyContinue Reading
The International Monetary Fund has revealed in its Third Review of the Economic Credit Facility programme that the energy sector is a major source of fiscal risk in Ghana, According to the Fund, the sector had an estimated stock of arrears (“legacy debt”) of US$2.1 billion or 2.8% of GrossContinue Reading