Business in Ghana

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Archive for November 28th, 2010

So why all the Fuss about Ghana’s 2011 Budget?

Posted by Business in Ghana on November 28, 2010

Courtesy of IMANI (www.imanighana.org) and AfricanLiberty.org

Ghana’s latest budget has been met with uproar in some quarters.

There is no dismissing or diminishing the fact that under trying circumstances the ruling government has been working hard to balance its books and stabilise the economy.  There may be some disputes over the precision of measurements and accounting conventions, but the evidence does point to some clear successes on the macroeconomic front.

The strengthening cedi has of course led to a significant boost in imports, but in real terms (accounting for inflation) the increase is in line with recent trends in the current account, and is thus not exactly scary (which is what you would expect if the currency had been artificially overvalued). Read the rest of this entry »

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