Policy Incoherence: Why Inflation is Running Away from the Bank of Ghana’s Target

The Bank of Ghana (BoG) commenced its policy rate hike cycle in November 2021 well ahead of major central banks such as the US Federal Reserve. US inflation in recent months has peaked and started declining while inflation in Ghana shows no signs of sustained disinflation. The Ghana Statistical Service (GSS) in its December 2022 […]

The Economics of the Gold for Oil Barter Policy

The minister of finance, Ken Ofori-Atta, presented to parliament the budget statement and economic policy of the government of Ghana for the 2023 financial year on 24th November 2022. This was immediately followed by an economic policy update on Facebook by the vice president, Dr. Mahamudu Bawumia, who is also the chair of the economic […]

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 […]