Exchange rate

Outlook Of African Economies In 2024 Signal Gradual Strengthening – IMF
26 Oct

Outlook Of African Economies In 2024 Signal Gradual Strengthening – IMF

wontumionlineBusiness, ,
The International Monetary Fund has stated the outlook of African economies in 2024 provides hopeful signals that economic activity is gradually strengthening with stronger growth, falling inflation, and narrowing fiscal imbalance. At an African Caucus Meeting, the Managing Director of the IMF, Kristalina Georgieva, said this year has been a difficult year for Africa, but there is hope going forward. “We had very productive discussions on Africa’s economic prospects. This year has been a difficult year for Africa. The region is still emerging from the Covid-19 pandemic and African countries have been hit by high borrowing costs (“funding squeeze”) and…
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Exchange Rate Depreciations Contributed To Africa’s Public Debt By 10% Of GDP – IMF
15 May

Exchange Rate Depreciations Contributed To Africa’s Public Debt By 10% Of GDP – IMF

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The International Monetary Fund has pointed out that exchange rate depreciations contributed to Africa’s rise in public debt by about 10 percentage points of Gross Domestic Product (GDP) on average by end-2022. According to the Fund, weaker currencies pushed up public debt, with about 40% of public debt external in Sub-Saharan Africa and over 60% of that debt in US dollars for most countries. Again, it said in an analysis on the theme “African Currencies Are Under Pressure Amid Higher-for-Longer US Interest Rates” that growth and inflation (which reduces the real value of existing debts) helped to contain the public…
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GUTA Urges Members To Reduce Prices Of Goods
13 Apr

GUTA Urges Members To Reduce Prices Of Goods

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The Ghana Union of Traders Association (GUTA) has entreated its members to respond positively to the improved economic position of the country and adjust prices accordingly. According to a statement from the traders group, efforts by the government and the Bank of Ghana to bring down inflation and exchange rate are commendable, hence the call on its members to cut prices of goods. “GUTA, entreats all members of the business community to respond positively to the changing trend and adjust prices to reflect the exchange rate. We express our pleasure to the government and the Bank of Ghana for their…
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