Dr. Patrick Asuming

06 Jan

Businesses May Delay Expansion Programmes In 2023 Until IMF Deal Is Finalised – Economist

wontumionlineBusinessDr. Patrick Asuming, imf

Economist, Dr. Patrick Asuming is of the view that businesses may delay in investing in the first quarter of the year to observe the conclusions of the International Monetary Fund (IMF) programme before increasing financial inflows. This, he said could slow economic activities if government does not move quickly to boost investor confidence. Speaking to Joy Business, Dr. Asuming stated that financial institutions may also react by tightening financing to the private sector. He explained that the phenomenon should be expected as businesses always look at government projections to plan. “I think overall, businesses will probably want to put on…

06 Jan

MPC Likely To Hike Policy Rate To Control Inflation – Economist

wontumionlineBusinessDr. Patrick Asuming, MPC

As the Monetary Policy Committee of the Bank of Ghana prepares to begin its quarterly meeting to review developments in the Ghanaian economy, Economist Dr. Patrick Asuming has predicted that the committee is likely to hike the policy rate. Currently, the policy rate is at 27%, while November 2022 inflation stood at 50.3%. The MPC is expected to have its first meeting for 2023, from Tuesday, January 24, to Friday, January 27 to review developments in the economy. Already, Fitch Solutions is projecting a 200 basis points increase in the policy rate in 2023 to 29%. Speaking to Joy Business,…