Bussiness
Headline inflation has peaked – IMF Deputy Boss
Gita Gopinath
Gita Gopinath, the International Monetary Fund’s Deputy Boss had said that headline inflation has probably peaked but some of “the more sticky components” such as the services sector are still trending up in some countries.
She added that 2023 will be a “tough year.”
“The new IMF forecasts for the global economy, due at the end of the month, will be “in the ballpark of what we put out in October,” she said.
“After going through about three rounds of downgrades at least we don’t have a worse outcome we’re looking at this time around.”
“While we have global growth bottoming out this year, it improves towards the second half of this year and then into 2024,” Madam Gopinath added.
The comments on Wednesday, January 18, 2023, were in line with the general tone of cautious optimism at the World Economic Forum in Davos, Switzerland.
On the opening day of the gathering of the business and financial elite, Chinese Vice Premier Liu, projected that the world’s second-largest economy will normalise as Covid-19 restrictions ease.
German Chancellor Olaf Scholz, speaking with Bloomberg Editor-in-Chief John Micklethwait in Berlin on Tuesday January 17, 2023 said he’s convinced Germany will avoid recession this year and that he is in talks with allies about sending battle tanks to Ukraine.
European Central Bank Governing Council member, Francois Villeroy de Galhau ,said the euro region should avoid a recession this year and that both headline and core inflation “will probably peak in this semester.”
Source: www.myjoyonline.com
Ghanaian dancehall artiste Charles Nii Armah Mensah, known as Shatta Wale, has won two awards at the 43rd International Reggae and World Music Awards (IRAWMA) held in Florida over the weekend.
He picked up the Best African Dancehall Entertainer award as well as Concert of the Year for ShattaFest.
In a statement, Shatta Wale’s management expressed appreciation to the organisers and supporters of the awards.
“Management would like to sincerely appreciate the organisers of the IRAWMA awards for the recognition and continuous support for African music on the global stage.
“We also extend our deepest gratitude to fans across the world, especially the Shatta Movement fraternity, for their unwavering support, votes, and dedication throughout the years,” the statement said.
The statement added that the latest wins reaffirm the artiste’s position as one of Africa’s leading musical exports and a prominent figure in global dancehall culture.
The awards bring Shatta Wale’s total haul at the IRAWMA to 11, highlighting his continued presence on the international reggae and dancehall scene.
At last year’s edition, he won three awards: Best African Dancehall Entertainer, Best Music Video for “Killa Ji Mi”, and Best Crossover Song for “Commando” featuring Bounty Killer. -GNA
Bussiness
Global Market Volatility: Gov’t absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol
Effective Thursday, April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢ 0.36 per litre on petrol.
This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.
The measure, approved by Cabinet, is in response to rising prices of petroleum products on the international market, which have significantly impacted ex-pump prices in Ghana.
This temporary intervention will remain in force for a period of one (1) month.
During this period government will continue to closely monitor developments in the global oil market and assess the need for further policy adjustments.
A statement signed by Minister of Government Communications, Felix Ofosu Kwakye noted that they remain commited to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks.
