Ghana place first out of 16 West Africa countries in Fitch Solutions Operational Risk Index rating. According to the research by Fitch, Ghana scored 50.9 out of 100 in trade and investment.

Economist, Dr. Saed Boakye, is calling for an immediate halt in per diem to government officials and other expenditure rationalization measures, if the country is to avoid the current happenings in Lebanon and Sri Lanka by improving the fiscal situation.

Vice President Dr. Mahamudu Bawumia has stressed that moves to digitilise the activities of Metropolitan, Municipal and District Assemblies (MMDAs) will soon commence to help discourage corrupt practices in the public sector.

Interest rates have surpassed 20% mark to reflect the recent increase in the Monetary Policy Rate by the Bank of Ghana. Also, government missed its Treasury bill auctioning target narrowly, indicating the tight liquidity on the money market. The 91-day Treasury bill was sold at a rate of 19.93%, whilst the interest rates of the 182-day and one-year bills were pegged at 22.94% and 24.46% respectively.

Ghana Revenue Authority challenged to embark on routine audit of lifestyles to ensure public office holders pay the right tax.

African Development Bank is forecasting a 5.3% growth rate for the Ghanaian economy this year. According to its 2022 Economic Outlook Report released at the ongoing Annual Meetings, it is however projecting a marginal drop in the country’s growth rate to 5.1% in 2023. The expansion of the economy in 2022 will however be higher than Sub Saharan’s Africa Average of 3.8% in 2022.

The African Development Bank (AfDB) is seeking to increase resources for member countries for more productive projects on the African continent to improve livelihoods. To this end, President of the AfDB Group, Dr. Akinwumi Adesina, is seeking approval from the board and partners of the bank to raise some $33 billion in order to support more initiatives of member countries.

The Governor of the Bank of Ghana, Dr. Ernest Addison, has described the rising inflation rate of nearly 24% as a complicated matter that will be dealt with decisively in the ongoing Monetary Policy Committee (MPC) meeting that began today, May 18th, 2022.

Government will pay a high 25% yield or cost for the 3-year bond which was rollover on Friday, May 20th, 2022. According to the result made available by the Bank of Ghana, it secured ¢470.4 million for the debt instrument, about 76% less than the targeted amount.

New data shows that Ghana presently has the highest interest rates among top 11 African countries. According to Databank Weekly Fixed Income Update, the country’s 18.23% and 19.26% rates for the 91-day and 182-day Treasury bills respectively are the highest on the continent.