Economy Archives - Page 3 of 4

10 Feb

Confidence in the Ghanaian economy is diminishing – BoG data

wontumionlineBusinessbank of ghana, Economy

Data from the Bank of Ghana indicates a downward trajectory of both consumer and business confidence in the general economy since the end of 2020. Both the Consumer and Business Confidence Indices have consistently been below the 100 mark since January 2021. The consumer confidence index has averaged 86.13 during this period while the business confidence index averaged 88.19 in the same period. Meanwhile, the confidence indices for consumers and businesses dropped to all-time lows of 73.9 and 72.6 respectively in October 2022. In December 2022, the indices improved to 79.2 for consumer confidence and 75.7 for business confidence. According…

10 Feb

What’s Your Alternative To The Debt Exchange Program- Manasseh Atta-Boahen To Critics.

wontumionlineFeatured, News, TrendingDDEP, Economy, Manasseh Atta Boahen

Government's spokesperson on Economy, Manasseh Atta-Boahen, has dared those blaming the government for mismanaging the economy hence the Domestic Debt Exchange Program (DDEP), to provide an alternative to restructure the country's debt. According to him, although those he described as naysayers are saying that the DDEP could have been avoided, they cannot also mention what other option could be considered. He made this known when he joined the discussion on Movement in the morning show on Wontumi Radio/Movement TV. "It's just rather unfortunate that we get to politicize everything in this country. But the thing, if you look at our…

09 Feb

How Do You Win An Election When You Can’t Manage The Economy?- Richard Ahiagbah Shades NDC

wontumionlineFeatured, News, TrendingEconomy, elections, Richard Ahiagbah

The Director of communications for the New Patriotic Party (NPP) Richard Ahiagbah, has stated that all the National Democratic Congress (NDC) wants is to win elections but lacks the technical know-how on how to manage the economy. Speaking in an interview on Movement in the morning show on Movement TV/Wontumi Radio, he noted that unlike the NPP that considers democracy in all its decision making, the NDC lacks democracy in its dictionary. "For all we know, the hate speech by the constituency youth organizer in Suame, is exactly what the NDC has planned of doing but unfortunately for him, he…

07 Feb

DDEP Will Get Economy Fully Back On Track – Ofori-Atta

wontumionlineBusinessDomestic Debt Exchange Programme, Economy, Ken Ofori Atta

Finance Minister Ken Ofori-Atta has called on bondholders to sign up for government’s Domestic Debt Exchange Programme as the expiration date is to be due on February 7. This, according to him, is to ensure the economy is restored. “What we want is an economy that is back on track, stable, vibrant, productive, dynamic; meeting the needs of individuals, households, and enterprises; delivering shared and inclusive growth; and improving incomes and livelihoods,” he pointed out. He reiterated that government’s objective for the programme is to “restore macro-economic stability, achieve debt sustainability and get the economy fully back on track.” “We…

01 Feb

Ghana’s Economy To Rebound In 2024 – IMF

wontumionlineBusinessDaniel Leigh, Economy, Ghana, imf, World Economic Forum

The International Monetary Fund (IMF) is anticipating a rebound in the Ghanaian economy in 2024. This is due to expected improve economic activities, particularly in the extractive sector, which will boost growth. The Fund projected a 2.8% Gross Domestic Product for Ghana in 2023, but expects the growth rate in 2024 to be better. Answering questions from the press at the just ended World Economic Forum in Davos, Switzerland, Division Chief at the Research Department, Daniel Leigh, said growth will slow down this year, partly because of the global headwinds which will affect the Ghanaian economy. “On Ghana, we do…

20 Jan

Ghana’s Economy Expanded By 3.6% In 2022 – African Development Bank

wontumionlineBusiness2023 Macroeconomic Performance and Outlook Report, African Development Bank, Economy

The African Development Bank says Ghana’s economy expanded by 3.6% in 2022, from 5.4% in 2021. This is slightly lower than the 3.7% forecast by the Government of Ghana and 3.8% by the World Bank. Indeed, this was also 1.8 percentage points lower than the initial forecast of 5.4%. In its latest 2023 Macroeconomic Performance and Outlook Report, it said growth was weighed down by deep macroeconomic imbalances— higher inflation, depreciating local currency, and high public debt, estimated at 91% of Gross Domestic Product. The top growth performers in 2022 were Seychelles (8.3%), Rwanda (6.9%) and Kenya (5.5%). Growth in oil-exporting…

16 Jan

Government Extends Deadline For Debt Exchange Programme To January 31

wontumionlineBusiness, NewsDomestic Debt Exchange Programme, Economy, Ken Ofori Atta

The Government has extended the deadline for its domestic debt exchange programme to January 31. This according to the state is to deepen stakeholder engagement on the proposed policy. A tweet by the Ministry of Finance on Monday explained that, the extension is to rally consensus towards a successful implementation of the programme. “Building consensus is key to a successful economic recovery for Ghana. “Pending further stakeholder engagement with institutional and individual investors, recently invited to join the debt exchange programme, government is extending the expiration of the DDE to Jan 31, 2023”, the tweet said. https://twitter.com/oofmghana/status/1614946436793176064?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1614946436793176064%7Ctwgr%5E93de805a79d3338744f748cf36181d5cc0fe9e79%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.myjoyonline.com%2Fgovernment-extends-deadline-for-debt-exchange-programme-to-january-31%2F Reacting to the…

10 Jan

More Businesses Will Collapse This Year – McDan

wontumionlineBusinessBusinesses, Economy, Ghana, imf, McDAN

Ghanaian business magnate, Daniel McKorley, popularly known as McDan, says more Ghanaian businesses will collapse this year. According to the entrepreneur, this is due to the precarious exchange rate between the cedi and the major foreign currencies, coupled with the country’s ailing economy. In an interview on Joy FM, he noted that given his projection about the fate of businesses this year, individuals must sit up and devise innovative means to navigate the impending challenges. ‘A lot of businesses are collapsing I can tell you and you have not seen anything yet. More businesses are going to collapse, looking at…

19 Dec

The Economy Is Bouncing Back Due To Good Leadership Of The NPP- Daniel Nkrumah

wontumionlineFeatured, News, TrendingCedi appreciation, Daniel Nkrumah, Economy

The first vice chairman of the ruling New Patriotic Party (NPP), for Okaikoi South constituency, Daniel Nkrumah has stated that the leadership of the Akufo-Addo led administration is bent on ensuring the economy bounces back to normalcy, hence, the reason the cedi has begun appreciating against the dollar. "The NPP was really criticized and chastised during the depreciation of the cedi- for which others mocked us with our mantra of breaking the-eight-year cycle", he spoke on Movement in the morning on Wontumi Radio/Movement TV. "Many traders were inflating the prices of their wares but turn to blame the government- as…

12 Dec

NDC Will Never Appreciate The Gov’t For The Good Initiatives- Alfred Kumi

wontumionlineFeatured, News, TrendingAdenta Kumi, Economy, NDC

A communication team member of the New Patriotic Party (NPP), Alfred Kumi who is better known as Adenta Kumi, has stated that the National Democratic Congress (NDC) will never appreciate the NPP government for the good initiatives in the country. He said the government has admitted on several platforms both home and abroad that the economy is not in a good shape- however, the government has said that it's fully prepared to fix things right. The government's expenditure has been reduced and we commend the government for the measures he has outlined. Speaking on Movement in the morning show on…