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September 12, 2018
[Occasional Paper 15] Pension Systems- A General Overview Ghana, like most countries, has introduced comprehensive reforms to its pension system, leading to the establishment of a new three-tier pension structure in 2008. This paper looks at the general concept of pensions from the basics and is intended to serve as a source of reference for subsequent papers on pensions. It considers the rationale for pension systems, the types, and models of pension provision, including a review of the two models of pension systems by two leading international organizations; the World Bank and the International Labour Organisation (ILO). It also discusses […]
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August 5, 2018
FiscalAlert 13: Mid-Year Review of the 2018 Budget Statement & Economic Policy On July 19, 2018, the Minister of Finance presented to Parliament the Government’s Mid-Year Fiscal Policy Review of the 2018 Budget Statement and Economic Policy. According to the Minister of Finance, the overarching goal of government’s macro-fiscal policy is to deepen macroeconomic stability, grow the productive sectors of the economy, create jobs and ultimately move the economy beyond aid. Consequently, the government’s fiscal policy has been designed to reduce the fiscal deficit to ensure debt sustainability without compromising growth. It has also been designed to be growth-friendly, reformative […]
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August 2, 2018
Policy Brief 5. Integrity: The foundation for a Strong Financial Sector The financial sector is a critical component for economic development in any country. It is the heart of any vital economy, contributing to prosperity and wealth creation through the provision of financial resources to support businesses, mobilizing savings, and accelerating commerce by facilitating payments and transfers. In this special policy brief, Hon. Dr. Kwabena Duffuor, the former Minister of Finance and Economic Planning discussed the importance of integrity in building a strong financial sector.
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May 9, 2018
[Occasional Paper 14] Economic Shocks And Growth
In Post-Independence Ghana, 1957 To 2017 The study analyses economic growth based on annual changes in real gross domestic product (GDP) in Ghana during the post-independence period from 1957 to 2017 using an econometric approach involving an autoregressive modelling scheme that incorporates several economic shocks as separate independent variables. The economic shocks included in the model are world cocoa price shock, world oil price shock, weather shock due to an El Nino weather phenomenon, and political instability shock for military coups or attempted military coups. Read more full paper here
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May 8, 2018
Fiscal Alert 12: Ghana’s Economic Development: Past, Present and the Future. After a successful implementation of an unprecedented program of economic recovery over a decade, perceived by the international community as an example of adjustment with growth and a model for the rest of Africa, Ghana held its first multi-party elections in 1992, taking a decisive step to return to multi-party democratic rule. This paper focuses on Ghana’s economic development since the return to multi-party democracy in 1993. It starts with a review of economic management during the transition period (1992) to provide the context for the move to multi-party […]
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March 12, 2018
Fiscal Alert 11: Ghana’s Growing Public Debt and Its Implications for the Economy Rising public expenditures in the context of persistently weak revenue performance have undermined Ghana’s fiscal and debt sustainability in recent years. As the coun- try’s fiscal risks remained high, credible fiscal consolidation was required to reverse the unfavorable debt dynamics and reduce domestic refinancing risks. The fiscal management strategy of the new government that came into office in January 2017 aims at restoring fiscal discipline, reversing the fiscal deterioration it inherited and putting the public debt on a downward and sustainable path. Unfortunately, it does not appear that […]
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