Dr. John Kwakye

Mid-Year Budget : Kwakye Warns Govt Against Actions That Can Disturb Subsequent Release Of IMF Cash
01 Aug

Mid-Year Budget : Kwakye Warns Govt Against Actions That Can Disturb Subsequent Release Of IMF Cash

wontumionlineBusiness, ,
Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has warned the government against actions that can disturb the release of the second tranche of the 3 billion IMF cash. This was after he said that the Mid-Year budget review that was presented by Finance Minister Ken Ofori-Atta was a rehash of the International Monetary Fund (IMF) programme. “The programme has strict quantitative and structural performance criteria that must not be breached in order not to forfeit subsequent financial disbursements,” Dr Kwakye tweeted. The Minister of Finance Ken Ofori-Atta has said that overall first-quarter growth for…
Read More
Establish Independent Parliamentary Budget Office To Monitor Monetary, Fiscal Systems – IEA
11 May

Establish Independent Parliamentary Budget Office To Monitor Monetary, Fiscal Systems – IEA

wontumionlineBusiness,
The Institute of Economic Affairs (IEA) has called for the establishment of an Independent Parliamentary Budget Office to monitor Ghana’s monetary and fiscal systems. This, the institute say will ensure a stricter monetary and fiscal management systems to transform the economy. Addressing a group of Civil Society Organizations, Director of Research, Dr. John Kwakye said a parliamentary budget office is necessary in assessing and estimating the cost of government projects and programmes. Dr. Kwakye explained that a parliamentary budget office will be different from the current Fiscal Council in the country. He pointed out that the parliamentary budget office will…
Read More
Why Neglect IMF’s Advice On Fiscal Adjustment ? – Dr. Kwakye To Government
27 Apr

Why Neglect IMF’s Advice On Fiscal Adjustment ? – Dr. Kwakye To Government

wontumionlineBusiness,
The Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye has questioned government’s unwillingness to work on the fiscal adjustment as suggested by the International Monetary Fund (IMF) in order to reach a debt sustainability level. According to him, government is rather focusing its attention on the debt restructuring with less concentration on the fiscal adjustment. This, he believes could prolong the commitment and assurance of the Paris Club and G-20 Members to give an assurance for a debt restructuring. Dr. Kwakye pointed out that the IMF has always made suggestions to the government of Ghana…
Read More
Economic Instability: We Have Been Indisciplined; We Don’t Learn From Our Mistakes – IEA To Government
19 Apr

Economic Instability: We Have Been Indisciplined; We Don’t Learn From Our Mistakes – IEA To Government

wontumionlineBusiness, , ,
The Institute of Economic Affairs has expressed worry about the repetition of past mistakes by governments which has made the Ghanaian economy unstable over the years. According to the economic think tank, the indiscipline in managing the country’s finances has caused the high fiscal deficits and consequently high inflation and currency instability, forcing innocent Ghanaians and businesses to pay for the mismanagement. In a paper on “Institutionalising Fiscal Discipline and Macroeconomic Stability for Sustained Growth in Ghana: The Constitutional Pathway”, Lead Researcher, Dr. John Kwakye said Ghana has a long history of fiscal indiscipline and this is evident in its…
Read More
Bog Cannot Justify Scale Of Lending To Government – IEA Director Of Research
10 Feb

Bog Cannot Justify Scale Of Lending To Government – IEA Director Of Research

wontumionlineBusiness, ,
The Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye, has stated that the Bank of Ghana’s justification of its financing of government budget in 2022 cannot justify the scale of lending to the government. According to him, the Central Bank can provide temporary advances to government but should be repaid within three months per the BoG’s Act. The Bank of Ghana had justified financing of the government’s 2022 budget with about ¢44.5 billion. It said in a statement that financing of government was part of a crisis management tool used in dealing with the difficulties…
Read More
Domestic Debt Exchange: Exclude Rural Banks, Individuals – IEA To Government
25 Jan

Domestic Debt Exchange: Exclude Rural Banks, Individuals – IEA To Government

wontumionlineBusiness, ,
The Institute of Economic Affairs (IEA) is asking the government to exclude rural banks, individual bondholders and pension funds from the Domestic Debt Exchange programme given their relative financial vulnerability. According to the Director of Research, Dr. John Kwakye, government should be seen to lead the way in burden-sharing in cutting expenditure, especially spending on goods and services, projects and flagship programmes. He explained that since contributions from rural banks are intended for less privileged individuals, pursuing their hard-earned money is needless. “Rural banks again? Because they take monies from the poor people and invest in government bonds, why will…
Read More