Economic analysts at Standard Bank, the parent company of Stanbic Bank Ghana, have indicated that Ghana’s economy is likely to see a full recovery in 2024 due to the impact of COVID-19. This was contained in the May 2020 edition of the bank’s African Monthly Report (AMR). According to the report, the 6–8 percent year-on-year …
Employers who continue to pay their workers cash are being advised to stop the practice, especially because of the corona virus pandemic. This is because experts have argued that cash could be a mode of transmitting the virus. Financial institutions have been encouraging the public to turn to electronic payment channels to reduce their exposure …
The year-on-year inflation rate increased to 11.3 per cent in May up from 10.6 per cent in April on food prices. The rate rose by 0.7 percentage points from the 10.6 per cent recorded in April Professor Samuel Annim, Government Statistician, said on Wednesday. The month-on-month inflation between April 2020 and May 2020 was 1.7 …
Government’s monetary policy interventions aimed at easing the negative effects of coronavirus on the economy seems risky and might become a liquidity trap because of weak investor sentiment and a slowdown in economic activity, Dr. Jerry Kombat Monfant – a global strategist and economic consultant, has warned. The Bank of Ghana (BoG), in response to …
The Producer Price Inflation (PPI) rate increased by 0.6% to hit 7.4% in April 2020. This rate indicates that between April 2019 and April 2020 (year-on-year), the PPI increased by 7.4%. Inflation from the producer perspective also followed the Consumer Price Inflation (CPI), increasing significantly during the month of the partial lockdown. According to figures …
The Minister of Information, Kojo Oppong Nkrumah has announced on Thursday at a press briefing in Accra the government will today, Thursday, 7 May 2020, begin a three-day retreat to examine data gathered on the impact of the novel coronavirus on all sectors of the economy and proffer measures to return the economy back to …
Both business and consumer confidence in the Ghanaian economy surged in the first two months of the year, the Bank of Ghana (BoG) has said in its March 2020 Monetary Policy Report. The Central Bank’s Consumer Confidence Survey conducted in February 2020 reflected some consumer optimism about the economy. As such, the consumer confidence index …
Government at the end 2019 failed to meet its target for economic growth, as the growth achieved for the period fell behind target by 0.6 percent, according to the recent data from the Ghana Statistical Service (GSS). This is the second consecutive year in which Ghana’s growth target has been missed after a spectacular rebound …
The G20 countries have suspended debt payment for the world’s poorest countries, most of which are in sub-Saharan Africa, to help them get through the economic impact of the coronavirus pandemic. Finance ministers and central bank governors of the world’s largest economies agreed to freeze loan repayments until the end of this year as part …
Year-on-year inflation remained unchanged at 7.8% in March 2020. This means prices of goods and services within the period remained relatively same. According to figures by the Ghana Statistical Service, month-on-month inflation between February 2020 and March 2020 was however 0.8%. Like last month, Alcoholic Beverages, Tobacco & Narcotics (11.4%); Transport (9.2%) and Recreation (9.0%) …