Monetary Policy

21 Nov

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

wontumionlineBusiness2023 Budget, IEA, Monetary Policy

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…

27 Oct

Over Reliance On Monetary Policy To Fight Inflation, Stabilise Cedi Not Oorking – GNCCI

wontumionlineBusinessBoG, CEDI DEPRECIATION, GNCCI, Inflation, Monetary Policy

The Ghana National Chamber of Commerce and Industry (GNCCI) is raising concerns about the excessive reliance on monetary policy by the Bank of Ghana to control inflation and the cedi’s depreciation. According to him, the monetary policy tool is not working but rather worsening the economic situation. “There is the need to align the monetary and fiscal policies to address the situation by implementing unorthodox homegrown policies to tackle the ongoing economic crisis”, Clement Osei-Amoako, President of the Chamber disclosed at the 46th Annual General Meeting of the GNCCI in Accra. He urged government to work with the multinational companies…