Business in Ghana

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Archive for August 5th, 2012

The Relevance Of The Monetary Policy Rate In The Monetary Transmission Mechanism

Posted by Business in Ghana on August 5, 2012

Source: Center for Policy Analysis.  http://www.cepa.org

In May 2007 the Bank of Ghana formally adopted inflation targeting (IT) as the framework for stabilizing prices within the economy. Since then, significant progress has been made in developing the policy framework as well as the institutions and markets that underpin its implementation _ money and capital markets have been developed, there is a framework for forecasting liquidity, and a broad range of instruments with which to conduct monetary policy is available.

The monetary policy tool of the BOG is the monetary policy rate (MPR) _ the rate at which commercial banks can borrow from the central bank _ and it is set at a level that is consistent with meeting the BOG_s inflation target. The MPR, thus, is expected to communicate the stance of monetary policy and act as a guide for all other market interest rates. Read the rest of this entry »

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9 Graves and Two Veeps. Critical News, 5th August 2012

Posted by Business in Ghana on August 5, 2012

Sydney Casely-Hayford, sydney@bizghana.com

Ghana could not get any more exciting before the funeral of our late president so I went to see a play at the National Theatre on Friday.  A Slave’s Story.  It was only when the stage credits were mentioned that I realized the cast was mainly from the Asiamah family from the UK.  I was not impressed with the play and it added nothing to my knowledge about the souls of our ancestors.  There was some music talent and some acting talent, but overall, it was a less than mediocre performance for me and I relegated it to the annals of an end of term performance by some high school students.

So I went to the Home Coming of my alma mater, Bleoo!, Saturday.  A refreshing encounter with old class mates, letting your hair down with friends you spent seven years of intense rivalry and competition, observing the young ones who just cannot believe that I left Accra Academy before they were born.  So superior!  My year group is now the true “Old Boys”.  I can recount amusing and interesting stuff and in those days totally revolting.  But that was then and here is now.

Sunday, I was privileged to be at the Ghana Association of Writers presentation in honor of President Mills.  I heard some wonderful talent and music and I came back charged with new hope that Ghana at least can manage its creative talent and develop beyond Azonto.

Now, me and Martin Amidu, we are still waiting for the Supreme Court to announce when they will hear the case he filed against Woyome, Vamed and Waterville, to establish the legality of the financial engineering that probably never was.  This week, Mr. Amidu filed another case against Isofoton and others including the Attorney General, again in a judgment case previously determined and a second payment from the people’s purse.  I am yet to meet Mr. Amidu, who is fast becoming my favorite Ghanaian and I hope he at least reads some of what I write.  If Martin can do this, where are the other Ghanaians who are privy to the corruption pockets and have access to information that will help unravel some of the detail?  We have a Whistle Blowers Act in place and surely, there must one or two public servants spirited enough to spill some beans? Read the rest of this entry »

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