Economist, Dr. Lord Mensah has advocated stricter sanctions to persons whose negligence could result in Ghana exceeding the proposed cap on the government budget deficit target. In his view, the possible prosecution of such officials will pin economic managers down to responsible expenditure. The Economist’s suggestion comes on the back of the government’s quest to … Read more
Members of Delta Force, a vigilante group affiliated with the governing New Patriotic Party (NPP) which in recent times has become popular for the wrong reasons, have demonstrated that they can channel their energies to a good course as they’ve embarked on a clean up exercise in Kumasi in the Ashanti Region. The group has … Read more
The Deputy Minister for Information Kojo Oppong-Nkrumah has stated that a piecemeal approach towards settling Ghana’s energy legacy debt is not the solution to the problems of the sector. He recommends what he calls a “bullet injection” to take the energy sector out of its present challenges. Kojo Oppong-Nkrumah was speaking on GBC’s current affairs … Read more
Stakeholders in the financial sector have pushed for the establishment of a Fiscal Council to put the government on its toes in observing prudence in public expenditure. According to the Public Financial Management Act, 2016 (Act 921), the prime fiscal policy objective of the government is to ensure macroeconomic stability within the macroeconomic and fiscal … Read more
play videoLack of fiscal council is the cause of large deficits over the years The Institute for Economic Affairs is calling on government to set up a fiscal council which will provide an independent assessment of macroeconomic and revenue forecasts to ensure fiscal sustainability in the country. According to adjunct research fellow of the IEA, … Read more
Dr. Eric Osei Assibey, an Adjunct Fellow of the Institute of Economic Affairs (IEA), on Tuesday said the Government had laid a solid foundation that would propel it to achieve its electoral promises. He noted that when the manifesto of the New Patriotic Party was juxtaposed over what it had achieved within the 100 days … Read more
Dr. Eric Osei Assibey, an Adjunct Fellow of the Institute of Economic Affairs (IEA) on Tuesday said the Government had laid a solid foundation that would propel it to achieve its electoral promises. He noted that when the manifesto of the New Patriotic Party was juxtaposed over what it had achieved within the 100 days … Read more
Economist, Dr. Eric Osei-Assibey has cautioned government not to be tempted to go in for the 5 percent budget deficit financing from the Bank of Ghana (BoG). According to him, even though there is a window of opportunity for government to access 5 percent financing from the central bank despite the International Monetary Fund (IMF) … Read more
Economist, Dr. Eric Osei-Assibey has cautioned government not to be tempted to go in for the 5 percent budget deficit financing from the Bank of Ghana (BoG). According to him, even though there is a window of opportunity for government to access 5 percent financing from the central bank despite the International Monetary Fund (IMF) … Read more
An economist with the University of Ghana has called for a forensic audit of the Public Utilities and Regulatory Commission (PURC). Dr Eric Osei-Assibey who is also a Fellow at the Institute of Economic Affairs (IEA), also advocated reforms regarding the mandate of the public utility regulator. In the first of a series of reports … Read more
An Economist has dismissed the erstwhile NDC administration’s oft-repeated assertion that it borrowed to finance key infrastructural projects. According to a Senior Research Fellow at the Institute for Fiscal Studies (IFS), Dr Said Boakye, it was about time the opposition NDC stopped that claim because the figures do not support it. “You see the reasons … Read more
A renowned economist has given high marks to the 2017 budget statement of Nana Akufo-Addo’s administration but points out likely policy implementation challenges. Dr Eric Osei-Assibey, a Senior Lecturer at the University of Ghana and a Fellow at the Institute of Economic Affairs (IEA), says the budget that was presented to Parliament on Thursday by … Read more
Ghana risks a likely delay in the disbursement of funds from the International Monetary Fund from this year, following plans to extend the deal. This is the caution from Economist, Dr. Eric Osei Assibey. According to him, the Fund will grant the request upon satisfying itself of the government’s ability to meet set targets. “I … Read more
Discussions between Ghana’s economic team and the International Monetary Fund (IMF) are set to generate revised targets which should see the Ghanaian economy placed on a sound footing after years of turbulence. Economists are confident the Fund will want to see the country meet all missed targets especially the fiscal deficit which is reported to … Read more
The central bank’s policy rate could fall below 20 percent in the coming year, the first time since 2014, a forecast by RMB Global Markets Research, a South Africa-based research firm has said. The forecast would come as good news to businesses that have consistently battled costly credit which has proved detrimental to businesses’ expansion … Read more
Governor of the Bank of Ghana (BoG), Dr Abdul-Nashiru Issahaku has acknowledged the slow growth of the Ghanaian economy, attributing it to external factors and tight credit conditions. According to him “growth has remained subdued for the most part of 2016 largely due to tight credit conditions and the downturn in commodity prices.” The Governor … Read more
Ghana’s total public debt has hit 112.4 billion cedis equivalent to 28.3 billion dollars, as at September 2016. The figure represents about 14 percent increase from the 98.8 billion cedis recorded in January this year. The latest Economic and Financial Data released by the Bank of Ghana also indicated that the country’s total debt represents … Read more
The business community, backed by some economists have intensified renewed calls for the central back to strongly consider cutting its policy rate to induce growth following the decline in inflation and stability in the cedi. The entreaty comes as the Monetary Policy Committee of the Bank of Ghana prepares to meet for the last time … Read more
As the contention between some bankers and the Finance Minister continue over the issuance of local dollar denominated bond, Economist, Dr. Eric Osei-Assibey has warned that issuing such bonds must be measured. Criticizing the Finance Minister, the Managing Director of Stanbic Bank, Alhassan Andani cautioned that the move could lure Ghanaians to convert their local … Read more
A Senior Economics Lecturer at the University of Ghana, Legon, has raised concerns over government’s continuous borrowing strategy, warning the economy could suffocate under high indebtedness. Dr. Eric Osei-Assibey says allocations in the recently approved budget for the first quarter of 2017 shows interest payments takes a chunk of government revenue, a situation he says … Read more