Economic Analysis - Hydrocarbon Exports Will Narrow Current Account Deficit - 21 AUG 2017
Emerging Markets Monitor August 2017 / Ghana / Economy
Ghana's current account deficit will narrow over the coming years due to significant increases in exports of hydrocarbons and tepid growth in imports. The narrowing current account surplus alongsid...
Political Risk Analysis - Akufo-Addo Will Take The Presidency In The Second Round - 14 NOV 2016
Emerging Markets Monitor November 2016 / Ghana / Economy
Following some recent successes on the economic front, and the launch of his political manifesto and election campaign, incumbent President John Mahama has put himself back in the race and we...
Industry Forecast - Credit Boom Will Finally Slow - 23 MAY 2016
Emerging Markets Monitor May 2016 / Ghana / Economy
The Ghanaian banking sector will come under significant strain in 2016 as adverse - although improving - macroeconomic conditions lead to an increasing number of non-performing loans, bringing to...
Currency Forecast - GHS: The Reprieve Is Over, Depreciation To Resume - 09 FEB 2015
Emerging Markets Monitor February 2015 / Ghana / Economy
The Ghanaian cedi will resume its long-standing depreciatory trend, owing to a wide current account deficit. Although foreign investment - both FDI and portfolio flows - will pick up, the volumes will not be sufficient to stem the downside pressure.
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Currency Forecast - GHS: Depreciatory Trend To Resume, Gently - 03 NOV 2014
Emerging Markets Monitor October 2014 / Ghana / Economy
The Ghanaian cedi's recovery has run its course. Depreciation will ensue over the coming two years owing to a wide current account deficit. However, the losses will be milder than those incurred...
Currency Forecast - GHS: Near-Term Recovery, Long-Term Depreciation - 11 AUG 2014
Emerging Markets Monitor August 2014 / Ghana / Economy
We expect a reversal for the Ghanaian cedi over the coming one-to-two months following the government's announcement that it will approach the IMF for support. However, the long-term trend will be...
Economic Analysis - BoG Hawkish But Hamstrung - 21 JULY 2014
Emerging Markets Monitor July 2014 / Ghana / Economy
The Bank of Ghana will hike interest rates by an additional 100bps over the coming months but inflation will remain firmly above target owing to severe currency depreciation which will push up...
Currency Forecast - GHS: Weak Confidence Will Drive Depreciation - 19 MAY 2014
Emerging Markets Monitor May 2014 / Ghana / Economy
We expect the Ghanaian cedi to depreciate further and hit the psychologically important GHS3.0000/USD level over the coming three months. Local confidence in the economy is at a low ebb due to...
Currency Forecast - GHS: Further Heavy Depreciation Ahead - 10 FEB 2014
Emerging Markets Monitor February 2014 / Ghana / Economy
The Ghanaian cedi looks very weak from a technical perspective. It depreciated rapidly throughout 2013 due to the wide current account deficit and various investor concerns surrounding macroeconomi...
Market Strategy - Cedi Depreciation To Slow In 2014 - 23 DEC 2013
Emerging Markets Monitor December 2013 / Ghana / Economy
Looking ahead to 2014, we expect the pace of cedi depreciation against the US dollar to slow. The current account deficit will likely remain sizeable but we anticipate that this will be counterbala...