January 29, 2016
Since May 2015, the Bank of Ghana Monetary Policy Committee’s Press Releases have been very brief and without some vital information. The Committee’s comments on the country’s economic growth, fiscal performance, and developments in the external sector have been truncated to the point of rendering the Press Releases not too useful. The most worrisome aspect of this development is the complete omission of information on the country’s debt situation since May 2015, in spite of the fact that the Bank of Ghana is the institution that actually borrows from the domestic market through the sale of Treasury Bills on behalf […]
December 18, 2015
The global energy system based on hydrocarbons is undergoing a foundational shift. Global demand for electricity is expected to rise by more than 80 percent from 2010 to 2040, driven by increases in population and GDP. Approximately 20 percent of global electricity generation now comes from renewable energy sources. Renewables accounted for over half of total net additions to electricity generating capacity worldwide in 2012. Energy generation from renewables is expected to increase by almost three times its 2010 level in 2035, with the share in energy generation mix increasing to 31 percent (KPMG, 2013). Click here to read full report
December 14, 2015
One important feature of fiscal management in Ghana in the last few years has been the rapid rise in government borrowing, not just a rise in real debt but also a rise in debt/GDP ratio, pushing the country into a debt trap. With the country posting double-digit fiscal deficits in three consecutive years since 2012 and financed through increased indebtedness, the government is now confronted with a huge and increasing interest payment burden. This paper looks at the trends in interest costs to the government, causes, and what needs to be done to ensure an efficient management of the country’s debt. Click here to read full report