Ghana is likely to undertake some form of debt restructuring to put its debt under sustainable path, the September 2022 Africa Markets Revealed Report by the Standard Chartered Bank has revealed.

Interest rates inched up to 33% to reflect surging inflation and the rapid depreciation of the cedi.

Senior finance lecturer at the university of Cape-coast business school calls for some level of price control of basic goods to check inflation and also protect the vulnerable and current economic challenges.

News from the world of business.

News from the world of business.

The Ghana Union of Traders Association (GUTA) is blaming recent price hikes of basic items on government’s decision to force some retailers to pay VAT standard rate. According to GUTA, the new policy is retrogressive and compels consumer to go through double taxation.

IMF managing director Kristalina Georgieva promises adequate support for Ghana and other countries hit badly by the current global economic challenges.

Finance Minister, Ken Ofori-Atta is pushing for a quick completion of negotiations with the International Monetary Fund for an economic programme that will address Ghana’s macroeconomic and structural challenges.

The Ghana cedi s likely to endure depreciation pressures in the near term as the foreign exchange market still awaits news on the Debt Sustainability Analysis [DSA] conducted by the International Monetary Fund.

Ghana is ranked 1st by the World Bank with the highest food prices in Sub-Saharan Africa in 2022. According to the Bretton Wood institution’s October 2022 Africa Pulse Report, food prices have since January 1, 2022, gone up by 122%.