The cedi’s rate of depreciation against the US dollar has slowed significantly in the first week of March 2026. The local currency, which had depreciated by more than 4% earlier in the year based on price quotes by some major commercial banks, has now recorded a much slower depreciation of about 1.65% since the beginning […]
President John Dramani Mahama will today present the State of the Nation Address (SONA) to Parliament detailing progress of work on major initiatives, as well as intentions in all sectors of the economy. The address, which is in fulfilment of the President’s constitutional mandate under Article 67 of the 1992 Constitution, sets the tone for […]
The Ghana cedi is recovering modestly on external tailwinds and sentiment. Over the past fortnight, the cedi encountered mild demand-driven pressures in the opening week, as anticipated. However, it clawed back losses in the latter half as broad-based “sell America” sentiment underpinned external support. In the interbank market, the cedi appreciated by 0.09% against the […]
The World Bank now expects Ghana’s economy to end 2025 with a growth rate of 4.3%, up from its earlier projection of 3.9%. This was contained in the October 2025 edition of the Africa’s Pulse Report released by the Bank in Washington, D.C., USA. The revised projection is slightly higher than the 4.4% growth target […]
The World Bank has disbursed $360 million from its International Development Association (IDA) for Ghana. The disbursement is coming under the Second Resilient Recovery Development Policy Financing operation, to support the Government of Ghana’s efforts to restore macroeconomic stability and reinforce the foundations for more sustainable and resilient economic growth for job creation. This was after the World […]
The Minority caucus in parliament has warned that it will strongly oppose any move by the government to introduce new taxes or increase existing ones, warning that such measures will burden Ghanaians further. Addressing a press conference on Monday, March 3, former Minister for Finance, Dr Mohammed Amin Adam, criticised the government’s tax revenue target […]
Former Finance Minister Dr Mohammed Amin Adam has raised questions regarding President Mahama’s comment on the New Patriotic Party’s government’s handling of the economy. He challenged claims of a sudden fiscal crisis that has limited public sector wage increases. In a Facebook, Dr Adam questioned how an economy labelled as “criminally mishandled” could support significant […]
Ghana’s economy grew by 7.2 % in the third quarter of 2024, provisional figures released by the Ghana Statistical Service has revealed. Compared to the second quarter of 2024, the economy grew by 6.9%. The Services sector continues to be the largest of the Ghanaian economy with a share of 42.9% of Gross Domestic Product […]
The International Monetary Fund (IMF) Executive Board has completed the third review of Ghana’s 36-month, $3 billion Extended Credit Facility (ECF) program, initially approved in May 2023. The review’s conclusion paves the way for an immediate disbursement of Special Drawing Rights (SDR) 269.1 million (approximately $360 million), bringing total disbursements under the program to around […]
Ghana has taken a major step forward in its digitalisation agenda with the launch of the CitizenApp, a digital platform that consolidates all digitised public services. The app, designed to streamline interactions between the government and the public, was officially launched on Monday by Vice President Dr. Mahamudu Bawumia in Accra, with representatives from various […]
The Monetary Policy Committee of the Bank of Ghana has dropped the policy rate by 200 basis points to 27 per cent. This is a result of the macro economic indicators trending in the right direction. Announcing the decision, the Governor of the Bank of Ghana, Dr Ernest Addison said the macro economic indicators are […]
The country’s economic figures stand in sharp contrast with the daily economic hardships faced by citizens, the Institute of Statistical, Social, Economic and Research (ISSER) has observed. It said although the country’s total income distributed per person, also known as per capita income, had increased by $386 from $1,979 in 2016 to $2,365 in 2023, […]
