A Currency Board or Fixed Exchange Rate is Not a Solution to Ghana’s Depreciating Cedi

This is an academic article. The authors are solely responsible for the content of this publication. It does not reflect the views of Tesah Capital or any institution with which the authors are affiliated. We are grateful to Tesah Capital for providing a publication outlet. Introduction The Ghana cedi has depreciated markedly this year against […]

2023 Budget Must be Transparent and Have Realistic Targets

Tesah Markets

Ghana is currently experiencing one of the most challenging economic times in recent years. The difficulties confronting the country as it heads into the 2023 fiscal year include anemic economic growth, high unemployment, elevated inflation, severe currency depreciation, deteriorating gross international reserves and a looming public debt crisis. These put the finance minister in a […]

Whither to from Here: Implications of the Government of Ghana Sovereign Debt Restructuring

Introduction A recent Bloomberg news article(1) has hinted that the Government of Ghana is considering restructuring its sovereign debt in the wake of negotiations with the IMF regarding the sustainability of the country’s debts. The report indicated that local debt was more likely to be restructured compared to the country’s external debt. If the reports […]

Inflation Update

The headline inflation in August was 33.9% an increase of 2.2 percentage points from the 31.70% recorded in the month of July making it the highest in 21years. In addition to this, the 33.9% inflation recorded in August accounted for a 15 consecutive monthly rise in inflation. The August inflation window recorded upward pressures from […]

Ghana’s inflation surges to 29.8% but the worst is yet to come

Data released by the Ghana Statistical Service (GSS) on July 13, 2022, indicate that the annual inflation rate increased to 29.8% in June 2022 from 27.6% recorded in May 2022. This is the highest level of inflation since December 2003, and almost 3 times the upper bound of the Bank of Ghana’s target range of […]