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The global economy is struggling to meet its commitment to improve energy efficiency, with only a 2% gain in 2022, despite a goal to double this rate by 2030. Two-thirds of energy supply is wasted, costing $4.6 trillion annually, highlighting the urgent need for better efficiency practices. Countries like Ghana are leading by implementing efficiency policies that have significantly reduced energy consumption and carbon emissions.
Ghana's cedi appreciated for the second consecutive day, gaining 0.2% to 16.3302 per dollar in Accra. This rise follows the Bank of Ghana's sale of $214 million to the market through two- and seven-day contracts, aimed at strengthening the currency.
Ghana's presidential favorite, Mahama, has expressed intentions to renegotiate the $3 billion IMF deal. He emphasized the need to explore refinancing options to ease the burden of debt repayments, aiming for a smoother financial trajectory for the country. [Source](https://www.bloomberg.com)
Ghana's annual inflation rate surged to 22.1% in October, up from 21.5% in September, marking a four-month high. This increase diminishes the likelihood of an interest-rate cut by the central bank later this month, according to Government Statistician Samuel Kobina Annim.
The recent IMF-World Bank meetings highlighted a consensus on a soft landing for the economy, with inflation nearing target levels, allowing for potential aggressive easing by the Federal Reserve. Emerging market countries like Kenya and El Salvador have shown significant recovery, successfully refinancing debts and implementing reforms, while concerns about fiscal sustainability in developed markets grow. Investor sentiment towards emerging market debt is improving, with expectations of no near-term defaults and a cautious outlook on distressed sovereigns like Ecuador and Lebanon.
The recent IMF-World Bank meetings highlighted a consensus on a soft landing for the economy, with inflation nearing targets and expectations of aggressive easing from the Federal Reserve. Emerging market countries like Kenya and El Salvador have shown significant recovery, successfully refinancing debts and implementing reforms, while concerns about fiscal sustainability in developed markets grow. Investor sentiment towards emerging market debt is improving, with a notable shift in debt risks from emerging to developed markets.
The recent IMF-World Bank Meetings highlighted a consensus on a soft landing for the economy, with inflation nearing targets and expectations of aggressive easing from the Federal Reserve, benefiting emerging markets. Countries like Kenya and El Salvador have successfully restructured debts, while Zambia and Ghana have exited restructuring, improving investor sentiment towards EM debt. Concerns about fiscal sustainability in developed markets contrast with the resilience seen in emerging economies, attributed to better monetary policy and fiscal management.
Ghana's Cocoa Management System (CMS) aims to enhance cocoa traceability and comply with EU deforestation regulations, having already registered 793,000 farmers and mapped 1.2 million hectares. A proposed one-year delay in the EU's deforestation regulation implementation could provide Ghana additional time to finalize the CMS and improve logistics. This extension is also crucial for Tanzania, where coffee farmer registration is just beginning.
The government is intensifying efforts to involve the private sector in the Electricity Company of Ghana (ECG) to enhance operational efficiency amid a US$1.2 billion annual shortfall in the energy sector. Finance Minister Dr. Mohammed Amin Adam emphasized the need for reforms, including renegotiating power purchase agreements with Independent Power Producers (IPPs) and implementing a cash waterfall mechanism for fair revenue distribution. Despite challenges, including a payment dispute with Sunon Asogli, the government remains committed to stabilizing the energy sector and restoring investor confidence.
Newmont's CEO, Thomas Ronald Palmer, sold 20,000 shares at $53.81, totaling $1,076,200, while EVP Peter Toth sold 3,000 shares for $161,430, both transactions reflecting no change in ownership percentage. Institutional investors hold 68.85% of the stock, with recent downgrades from UBS and other analysts adjusting price targets. Newmont reported a quarterly earnings miss, with revenue up 84.7% year-over-year.

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