{"id":662520,"date":"2019-07-23T12:53:28","date_gmt":"2019-07-23T12:53:28","guid":{"rendered":"
\n\t\t

Dr Ernest Addison, Governor of BoG<\/strong><\/p>\n

EXPORT RECEIPTS for the first half of the year remained robust at nearly $8.0 billion, the Bank of Ghana (BoG) has said.<\/p>\n

Together with a relatively lower import bill, the re"},"modified":"2019-07-23T12:53:28","modified_gmt":"2019-07-23T12:53:28","slug":"1st-half-export-receipts-record-8bn","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/07\/23\/1st-half-export-receipts-record-8bn\/","title":{"rendered":"1st Half Export Receipts Record $8bn"},"content":{"rendered":"

<\/p>\n

\n

Dr Ernest Addison, Governor of BoG<\/strong><\/p>\n

EXPORT RECEIPTS for the first half of the year remained robust at nearly $8.0 billion, the Bank of Ghana (BoG) has said.<\/p>\n

Together with a relatively lower import bill, the receipts positively impacted on the trade account. Provisional trade balance for the first half of this year recorded a surplus of $1.9 billion (2.8% of GDP), compared to a surplus of US$1.3 billion (1.9% of GDP) in the first half of 2018.<\/p>\n

The trade surplus was partly offset by net outflows in the services and income accounts, leading to a marginal current account surplus of US$39 million (0.1% of GDP) in the first half of 2019, compared to a deficit of US$409 million (0.6% of GDP) in the same period last year.<\/p>\n

Dr Ernest Addison, Governor of BoG, who made this known, said the current account surplus, though marginal, was the first in recent history.<\/p>\n

\u201cThis surplus, together with significant inflows to the capital and financial account, yielded an overall balance of payments surplus of $1.3 billion (1.9% of GDP) over the review period, compared with a deficit of $372 million (0.6% of GDP) last year.\u201d<\/p>\n

On gross international reserves (GIR), he said it stood at $8.6 billion (equivalent to 4.3 months of import cover) at the end of June 2019 up from US$7.0 billion (equivalent to 3.6 months of import cover) at the end of December 2018.<\/p>\n

\u00a0<\/strong><\/p>\n

Public debt<\/strong><\/p>\n

In line with the above developments, he announced that the stock of public debt rose to 58.1% of GDP (GH\u00a2200.0 billion) at the end of May 2019 compared with 51.0% of GDP (GH\u00a2153.4 billion) at the end of May 2018.<\/p>\n

Of the total debt stock, domestic debt was GH\u00a294.6 billion (27.5% of GDP), of which GH\u00a211.0 billion (or 3.2% of GDP) represented bonds issued to support the financial sector clean-up, while external debt was GH\u00a2105.4 billion (30.6% of GDP).<\/p>\n

\u00a0<\/strong><\/p>\n

Domestic currency<\/strong><\/p>\n

The domestic currency market, he pointed out, remained relatively calm.<\/p>\n

The Ghana Cedi cumulatively depreciated by 8.2% in the year to July 18, 2019 compared with 5.8% for the corresponding period of 2018.<\/p>\n

Against the British Pound and Euro, the Ghana Cedi cumulatively depreciated by 5.9% and 6.5% respectively compared with 2.5% and 2.9% depreciation respectively over the same corresponding period.<\/p>\n

In trade-weighted terms, the real effective exchange rate continued to be broadly aligned with the underlying fundamentals.<\/p>\n

BY Samuel Boadi<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Dr Ernest Addison, Governor of BoG EXPORT RECEIPTS for the first half of the year remained robust at nearly $8.0 billion, the Bank of Ghana (BoG) has said. Together with a relatively lower import bill, the receipts positively impacted on the trade account. Provisional trade balance for the first half of this year recorded a […]<\/p>\n","protected":false},"author":1,"featured_media":660202,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-662520","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n1st Half Export Receipts Record $8bn - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/07\/23\/1st-half-export-receipts-record-8bn\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"1st Half Export Receipts Record $8bn - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Dr Ernest Addison, Governor of BoG EXPORT RECEIPTS for the first half of the year remained robust at nearly $8.0 billion, the Bank of Ghana (BoG) has said. 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