The economy’s second quarter performance, released by the Ghana Statistical Service (GSS), shows that the services sector continues to be the fastest growing, and the largest contributor to Gross Domestic Product (GDP). The figures indicate that growth rates for the first and second quarters of this year for the services sector were 7.1 and 6 … Read more
Government’s indebtedness to State-Owned Enterprises (SOEs) in the power sector, who in turn owe banks, poses a real and present danger to the economy and must be tackled immediately, Dr Eric Osei-Assibey of the Department of Economics, University of Ghana, has said. The situation, he said, could put the future of both the SOEs and … Read more
Ghana has witnessed significant economic decline over the past five years with weak real Gross Domestic Growth (GDP), Dr Eric Osei-Assibey, an economist, has stated. Making a presentation on the theme, ‘Current state of Ghana’s economy: Impact of the ECF Programme with the IMF’ on Tuesday in Accra at an Institute of Economic Affairs (IEA) … Read more
Ghana’s debt to GDP ratio could hit the 70 percent threshold if the base rate for calculating the figure, is adjusted to reflect current growth targets. This is the indication from economist, Dr. Eric Osei Assibey. Crossing the 70 percent mark is also likely to affect Ghana’s international credit rating. “The projection was about 4.9 … Read more
The governor of the Bank of Ghana (BoG) Dr. Abdul Nashir Issahaku has described as worrying the country’s current average lending rate which is hovering around 33 percent. According to the Dr. Issahaku, the central bank was committed to bringing down lending rates by tightening monetary policy. Speaking to Citi Business News, Dr. Issahaku said … Read more
Business Finder’s comparison of Ghana’s debut on the international capital market in 2007 when it raised US$750 million at a cost of 8.50 per cent with the recent Eurobond has revealed a struggling economy. The paper’s analysis showed that while the first bond was issued for a maturity term of 10 years at a cost … Read more
A senior lecturer at Economics Department of the University of Ghana, Dr Eric Osei-Assibey, has supported claims by Vice Presidential Candidate of the New Patriotic Party (NPP), Dr Mahamudu Bawumia that Ghana’s economy is in distress. At his lecture on the health of Ghana’s economy at the National Theatre on Thursday, Dr Bawumia put forward … Read more