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
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.
Ghana’s gold and minerals sector is set for a major spotlight as Meetings. Co, in partnership with key industry stakeholders, announces the Mining & Minerals Convention 2025, scheduled from August 26-27, 2025, at the Kempinski Hotel Gold Coast City, Accra.
Held under the theme “Shaping the Future of Ghana’s Gold Industry,”‘ the Convention will convene government leaders, regulators, miners, refiners, investors, sustainability partners, innovators, and responsible mining, and global competitiveness,policy experts to explore strategies that position Ghana’s gold industry for long-term growth.
The two-day convention will feature presidential and ministerial keynote addresses, industry thought leadership, technical paper presentations, policy dialogues, fireside chats, exhibitions, and high-level networking sessions.
Convention delegates can anticipate a dynamic and insightful experience, marked by thought leadership from leading policymakers and regulators, in-depth discussions on key topics such as sustainability, ESG, digital gold, and responsible sourcing, as well as valuable opportunities to forge public-private partnerships and investment deals.
Moreover, the event will offer practical action points aimed at unlocking greater economic value for Ghana.
The 2025 edition will be supported by a strong coalition of strategic partners, including the Ministry of Lands and Natural Resources, the Minerals Commission, GoldBod, the Minerals Income and Investment Fund (MIIF), and the Ghana Extractive Industries Transparency Initiative (GHEITI).
