Economy

Economy

Committee recommends review of National Development Plan every 10 years

A Ghanaian constitutional review committee has recommended that the country's National Development Plan be reviewed every 10 years, or earlier with parliamentary approval. The committee proposed amendments to the National Development Planning Commission's (NDPC) composition, including representatives from the finance ministry, universities, and industry. The NDPC will monitor and evaluate...
Economy

Ghana’s disinflation trend to continue, despite cedi depreciation

Ghana's disinflation trend is expected to continue, albeit at a slower pace, despite the depreciation of the cedi and anticipated petroleum price hikes, according to GCB Capital. The near-term inflation profile appears elevated due to cedi depreciation, transport fare hikes, and utility tariff adjustments, which will moderate disinflation in the...
Economy

Cedi strengthens as forex demand eases

The pressure on the Ghanaian cedi is easing, signalling a strong performance for the local currency after weeks of decline. This positive trend aligns with analysts’ projections that the Cedi's depreciation would be reversed by mid-year, thanks to interventions in the forex market by the Bank of Ghana. The cedi...
Economy

Ghana formalizes debt treatment agreement with official creditor committee

The government has successfully reached a Memorandum of Understanding (MoU) with its Official Creditor Committee (OCC) concerning the debt treatment agreed upon in January 2024. This achievement was significantly facilitated by the co-chairs of Ghana’s OCC, China, and France. The MoU formalizes the preliminary agreement with Official Creditors made in...
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