Budget 2022 and Ghana’s Public Debt: The Realism of the Plan to Achieve Debt Sustainability
In the first part of this essay, I discussed the government of Ghana’s path to achieving debt sustainability by 2025 as presented in budget 2022. Crucial to the path is realising “oil discovery-like” change in revenue. In this part of the essay, I will discuss how realistic budget 2022 is in achieving less than 70% […]
Budget 2022 and Ghana’s Public Debt: The Plan to Achieve Debt Sustainability
Ghana’s parliament approved the 2022 budget on November 30th, 2021, reversing an earlier rejection by opposition lawmakers after MPs from the majority side staged a walkout. Budget 2022 has been the most contentious in recent history. At the center of the contention is the new 1.75% levy on all electronic transactions including mobile money (Momo) […]
2022 Budget: Projected 42.9% increment in revenue necessary for debt sustainability – Tesah Capital
Asset management company, Tesah Capital, has described as bold and necessary for debt sustainability, government’s plan to raise GHS100.5 billion in total revenue for the 2022 fiscal year. Tesah Capital notes the projected revenue which represents a 42.9 percentage points increment (GHS30.5 billion) on the 2021 revenue outturn of GHS70.34 billion will increase the revenue […]
Ghana Economic and Financial Market Review – 3rd Quarter 2021
Ghana 2021 Q1 Financial Update
Tesah Capital Limited’s Research examines major themes in financial markets, performance and statistics of the stock and bond market in Ghana in this quarterly market update.Key Insights• Performance of key economic variable.• General performance of the fixed income and equity market. Click here to download the full report.
On Ghana’s 2021 budget and a looming debt crisis
The highlights of the budget presented to parliament on Friday 12th March 2021 were the size of Ghana’s debt to GDP ratio and the introduction of new taxes and levies. The provisional debt stock as at end-December 2020 which stood at nominal figure of GH¢291,614 million, representing 76.1% of GDP is the largest since 2000. […]
Recent Trends in Portfolio Flows– Should Local Investors be Concerned?
Data from the Central Securities Depository (CSD) indicated a strong resumption of capital flows into the capital markets throughout the fourth quarter of 2020 (see Fig. 1 below). Some analysts attributed the strong capital inflows to increased optimism about Ghana’s economic growth, amid easing trade tensions between the United States and China. Some analysts have […]
Performance of Selected African Stock Markets In 2020
The year 2020 started out on a good note for most African stock markets, with opportunities and investment prospects catching the attention of both local and foreign investors. The outbreak of the COVID-19 pandemic, however, resulted in a reduction in market activities and various indexes turned red by close of year 2020. Selling pressures intensified […]
Bank of Ghana is Deservedly the Best Central Bank in the World for 2020
A central bank is an institution responsible for formulating monetary policy to achieve price stability and help manage economic fluctuations. In the wake of the economic downturn of the Covid-19 pandemic, central banks globally responded with unprecedented monetary accommodation to mitigate the impact of the pandemic shock on households and businesses. The Financial Stability Board […]
Central bank independence: Why does It matter?
In our earlier article on the concept of central bank independence, we explained what it was and how it is measured. In this article, we explore why central bank independence matters. We also explore arguments put forth against central bank independence. Central Bank Independence is important because researchers have found that the more independent a […]
