IEA

Economic Reforms And Financial Discipline Required To Strengthen The Cedi – Kwakye
01 Jun

Economic Reforms And Financial Discipline Required To Strengthen The Cedi – Kwakye

wontumionlineBusiness,
Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has said that fiscal discipline is needed to strengthen the Cedi. Bloomberg reports that Ghana’s currency is poised for one of the strongest rallies globally after the West African nation’s $3 billion pact with the International Monetary Fund (IMF) gave investors hope it can climb back from last year’s debt crisis. https://twitter.com/thebankofghana/status/1664180069961539584?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1664180069961539584%7Ctwgr%5E645d1a80ae63f619a85779c84a075fcb03041a8f%7Ctwcon%5Es1_&ref_url=https%3A%2F%2F3news.com%2Feconomic-reforms-and-financial-discipline-required-to-strengthen-the-cedi-kwakye%2F The cedi was the best performer worldwide against the dollar in the runup to the IMF deal, which was sealed mid-month. That was the latest in a series of violent swings since Ghana unilaterally suspended payments…
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Gov’t Must Be Careful IMF Deal Doesn’t Become Its Undoing – IEA’s Kwakye Warns
23 May

Gov’t Must Be Careful IMF Deal Doesn’t Become Its Undoing – IEA’s Kwakye Warns

wontumionlineBusiness,
The Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has warned the government to be careful that the $3 billion bailout approved by the International Monetary Fund (IMF) does not lead to problems. Dr Kwakye said this is one of the most stringent IMF programmes he has ever encountered because the prescribed conditionalities leave no room for the government’s discretion. “The government has boxed itself into a straightjacket. This is one of the most stringent programmes l have ever encountered. “The prescribed policies and conditionalities leave no room for discretion. Gov’t must be careful that the programme…
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We Need A Strong Legal System To Support Currency Board – IEA
11 May

We Need A Strong Legal System To Support Currency Board – IEA

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The Institute of Economic Affairs (IEA) is calling for a strong legal system to support the Currency Board (CB) Lite System to achieve its goals. It believes a strong legal system is key to support the board particularly the enforcement of the applicable rules. “A strong legal system is key to support the board, particularly the enforcement of the applicable rules. It is essential because a currency board arrangement derives much of its credibility from the changes required in the Central Bank law”. The IEA had earlier proposed the establishment of a CB to limit the Central Bank lending to…
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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…
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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…
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Domestic Debt Exchange: Exclude Rural Banks, Individuals – IEA To Government
25 Jan

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

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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…
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2023 Budget Is “A Make Or Break One” – IEA
21 Nov

2023 Budget Is “A Make Or Break One” – IEA

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The Institute of Economic Affairs (IEA) has described the 2023 Budget as a make or break one”, saying if it fails to get it right, near-irreversible damage could be done to the economy. According to the institute, the budget must not be business as usual. It therefore wants a budget that will demonstrate consideration for a new fiscal policy paradigm capable of delivering sustained macroeconomic stability and growth as well as indicate an ambitious revenue mobilisation profile. “It must break from the past and chart a new course to restore macroeconomic stability, while laying the foundation for long-term sustainable growth…
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