Browsing: Alex Mould

A former Executive Director of Standard Chartered Bank has warned the economic contraction implications of the debt exchange programme will be…

“Many will be borrowing funds which they won’t be paying back (so let us say they will be given grants, but lenders don’t know this yet)”, Alex Mould intuited in an interview last week.

The analyst explains that, Ken Ofori-Atta has done two turnarounds in less than a week on the structure and procedure for the debt exchange.  

But the former National Petroleum Authority boss has described the deal as a ‘zero sum game’.

Alexander K. Mould believes the structural problem of making forex available can be addressed by streamlining the process by BoG working with NPA to make foreign currency available to the commercial Banks of the BDCs;

One of the renowned analyst warned that, any of such move may result in Ghana not being able to go to the capital markets for many years to come.

The, current situation, if not addressed, could prove disastrous for the country as this could trigger a domino effect and even imports of essential commodities could come to a grinding halt.

This was to help our readers grasp with what the picture of the economy looks and what IMF program can bring to better the outlook of the economy.

Some finance experts have indicated the need for government to engage the International Monetary Fund at this moment of the country’s economic conditions.

President Akufo-Addo, last week, ordered the Minister for Finance, to commence formal engagements with the Fund after a telephone conversation with the president and the IMF managing director, Kristalina Georgiev.