#  @GameliMartey Gameli K. Martey Gameli K. Martey posts on X about inflation, ghana, liquidity, money the most. They currently have [-----] followers and [---] posts still getting attention that total [---] engagements in the last [--] hours. ### Engagements: [---] [#](/creator/twitter::3121549544/interactions)  - [--] Week [-----] -91% - [--] Month [------] +1,424% - [--] Months [-------] +34% - [--] Year [-------] +1,122% ### Mentions: [--] [#](/creator/twitter::3121549544/posts_active)  - [--] Week [--] +208% - [--] Month [--] +345% - [--] Months [---] +255% - [--] Year [---] +125% ### Followers: [-----] [#](/creator/twitter::3121549544/followers)  - [--] Week [-----] +0.58% - [--] Month [-----] +2.80% - [--] Months [-----] +12% - [--] Year [-----] +66% ### CreatorRank: [---------] [#](/creator/twitter::3121549544/influencer_rank)  ### Social Influence **Social category influence** [finance](/list/finance) 72% [currencies](/list/currencies) 32% [countries](/list/countries) 18% [technology brands](/list/technology-brands) 2% [social networks](/list/social-networks) 1% [stocks](/list/stocks) 1% **Social topic influence** [inflation](/topic/inflation) 17%, [ghana](/topic/ghana) #2437, [liquidity](/topic/liquidity) #1215, [money](/topic/money) 10%, [finance](/topic/finance) 9%, [debt](/topic/debt) 7%, [bank](/topic/bank) 6%, [market](/topic/market) 5%, [investment](/topic/investment) 5%, [gdp](/topic/gdp) 5% **Top accounts mentioned or mentioned by** [@edemkojo](/creator/undefined) [@asaberekwame](/creator/undefined) [@kyekyequ](/creator/undefined) [@mikeamanpene](/creator/undefined) [@konkrumah](/creator/undefined) [@callmealfredo](/creator/undefined) [@citizenyao](/creator/undefined) [@treasuryhubgh](/creator/undefined) [@nanakbaidoo](/creator/undefined) [@mrkwei](/creator/undefined) [@obimpenaaustine](/creator/undefined) [@mytheoz](/creator/undefined) [@peagama](/creator/undefined) [@dommychou](/creator/undefined) [@nanadarko](/creator/undefined) [@desmondbredu](/creator/undefined) [@charmainesposts](/creator/undefined) [@annerquaye](/creator/undefined) [@ericwallerstein](/creator/undefined) [@teimensah1](/creator/undefined) ### Top Social Posts Top posts by engagements in the last [--] hours "Ghana's interbank market liquidity is looking flush these days. This week total of GHS 22.81bn matured on the 14-Day BOG bills. However commerical banks placed GHS 41.36bn for another 14-Day at a yield of 14.49%. This will be a talking point at next week's MPC meeting" [X Link](https://x.com/GameliMartey/status/2014615868311761089) 2026-01-23T08:27Z [----] followers, [---] engagements "Case Study: Ghana [----] - [----]. End of explanation. People in finance and economics pls explain this like Im 7: if a country doesnt have money why cant it just print more and end poverty People in finance and economics pls explain this like Im 7: if a country doesnt have money why cant it just print more and end poverty" [X Link](https://x.com/GameliMartey/status/2020049591068942395) 2026-02-07T08:18Z [----] followers, 49.5K engagements "Spot on Scramble for placement ahead of that upcoming DDEP coupon (likely GHS 10bn) already being priced-in will be fully priced-in next week. With real returns attractively high btwn 6% - 8% there's wide room for T-bill rate to fall again next week dragging bond yields along Government of Ghana Treasury Bill Auction Results Treasury yields cratered by a massive 218bps - the steepest week-on-week compression YTD - as investors piled a staggering GHS 17.2bn into GoG money market instruments. The Ministry of Finance came in aggressively https://t.co/SOCLmKnqjR Government of Ghana Treasury Bill" [X Link](https://x.com/GameliMartey/status/2020135196582961181) 2026-02-07T13:58Z [----] followers, [----] engagements "@asaberekwame Naaah. Not yet. Despite having come very far the GSE still has a long way to go in terms of listed stocks/asset class and float (or liquidity) of these stocks. Retail investors are now warming up to equities.& we prolly still need regulators to encourage product innovation" [X Link](https://x.com/GameliMartey/status/2020186196891050174) 2026-02-07T17:21Z [----] followers, [---] engagements "@_edemkojo Bro You've said it all. I hope pple will read this with open mind. In fact OMO yield is currently down to 12% but banks still submitted over GHS 16bn yesterday.after submitting over GHS17bn at Friday T-bill at yields between 9.9% - 12%. It's more about credit risk than yield" [X Link](https://x.com/GameliMartey/status/2021265643056623752) 2026-02-10T16:50Z [----] followers, [---] engagements "@Mr_Kwei @konkrumah Bro I don't get this fixation First without d aggressive sterilisation inflation will remain high & policy rate will stay high for long and d sterilisation cost carried on d BOG's P&L + macro-fiscal risk will persist for long.vs take a one-time hit and lower the rate quickly" [X Link](https://x.com/GameliMartey/status/2021282212486762778) 2026-02-10T17:56Z [----] followers, [--] engagements "@Mr_Kwei @konkrumah 2ndly OMO yield is currently at 12% but banks still piling into BOG bills.over GHS16bn submitted yesterday. Even on T-bills rates are down to between 9.9% - 12% but over GHS17bn submitted. Banks r more concerned about credit risk. Sterilisation only mops up EXCESS liquidity" [X Link](https://x.com/GameliMartey/status/2021282933537947894) 2026-02-10T17:59Z [----] followers, [--] engagements "@NanaDarko__ @_edemkojo Oil prices NEVER got to $140 in [----] (check chart below). Even in [----] (at the start of R-U war) it never got to $140. R-U war effect corrected quickly The screenshot you posted was a projection. NOT actual price Our main problem under last govt was Exchange Rate mismanagement" [X Link](https://x.com/GameliMartey/status/2022216470420394430) 2026-02-13T07:49Z [----] followers, [--] engagements "Over-concentrating in Ghana risk by local fund managers Creating idle funds to become captive funds for the Treasury's imminent return to domestic bond issuance Target net Domestic Debt issuance for [----] is GHS 72bn (USD 6.5bn). Over GHS 12bn (17%) achieved in first month Ghana's Securities and Exchange Commission (SEC) has directed local fund managers to cut back on offshore investments as it seeks to protect the cedi currency and strengthen macroeconomic stability. https://t.co/xEH0ChqeaC Ghana's Securities and Exchange Commission (SEC) has directed local fund managers to cut back on" [X Link](https://x.com/GameliMartey/status/2020137000888578504) 2026-02-07T14:06Z [----] followers, [----] engagements "Technically we don't "save" money in stocks. We "invest" in stocks. Stocks are "risk assets". An asset class that can suddenly swing wild enough to multiply your money or wipe out your money. Investment is risk-taking for higher returns. Savings is low risk to protect capital I want to have at least 30000cedis saved in stocks by the end of [----]. I want to have at least 30000cedis saved in stocks by the end of 2026" [X Link](https://x.com/GameliMartey/status/2020168786129875277) 2026-02-07T16:12Z [----] followers, 15.1K engagements "RT @_edemkojo: I think right from the onset an erroneous assumption is made to imply that excess liquidity left in the banking system would" [X Link](https://x.com/GameliMartey/status/2021265915560575369) 2026-02-10T16:52Z [----] followers, [--] engagements "Bro I think we need to end this argument at some point. We both know sterilisation only mops EXCESS LIQUIDITY. 2ndly OMO yield is down to 12% (from 30% in 2024) but banks still pushing EXCESS LIQUIDITY into sterilisation instruments. Banks are more concerned about credit risk For those who ask for evidence of our claim that the NDC Govt has sterilized about GHS [--] billion Cedis from the economy kindly read page [---] of the [----] budget. https://t.co/vYzhIx65Sg For those who ask for evidence of our claim that the NDC Govt has sterilized about GHS [--] billion Cedis from the economy kindly read" [X Link](https://x.com/GameliMartey/status/2021286639666888770) 2026-02-10T18:14Z [----] followers, [---] engagements "@konkrumah 3rdly CRR is dynamic --means banks are encouraged to lend over 55% of their deposits & hold only 15% as reserves. But average LDR is about 33% area implying reserve of 25% (unremunerated). Yet banks still preferring safe low-yield OMO over high-yield risky credit" [X Link](https://x.com/GameliMartey/status/2021286642196087137) 2026-02-10T18:14Z [----] followers, [---] engagements "@konkrumah Please also remember that the liquidity overhang has become structural as a result of the back-to-back-to-back years of money printing from [----] - [----]. That has created EXCESS LIQUIDITY beyond the economy's capacity to handle without price pressure unless it is mopped up Shalom" [X Link](https://x.com/GameliMartey/status/2021315672068833524) 2026-02-10T20:09Z [----] followers, [---] engagements "KENINT [----] maturity reprofiled KENINT [----] maturity reprofiled. Now this idea also being signalled. Good thing is the liability management operations are proactive and easing external liquidity risks My only concern is whether it's another case of kicking the can down the road Kenya is considering more Eurobond issuance to pay off maturing debt as part of "liability management operations" to smooth out its debt maturity curve its finance minister said on Wednesday. https://t.co/cB1mJEwahd Kenya is considering more Eurobond issuance to pay off maturing debt as part of "liability management" [X Link](https://x.com/GameliMartey/status/2021622813493203104) 2026-02-11T16:30Z [----] followers, [---] engagements "Observation: It's interesting to note that COCOBOD doubled-down on those cocoa road contracts (a quasi-fiscal activity) after the previous IMF program functionally ended with the [----] budget cycle. We can't seem to just stay fiscally discipline without IMF pressure. Smh. https://t.co/rB3zVLjSHr https://t.co/rB3zVLjSHr" [X Link](https://x.com/GameliMartey/status/2022012651568869692) 2026-02-12T18:19Z [----] followers, [---] engagements "Liquidity overloads GHS 13.7bn rejected at Friday's T-bill auction. While investors & banks are scratching their heads on where to place these funds another GHS10bn+ will hit d market on Monday [--] Feb. as DDEP bond coupons So you see why GOG believes COCOBOD can do local bonds There is so much liquidity in the market There is so much liquidity in the market" [X Link](https://x.com/GameliMartey/status/2022733160069423389) 2026-02-14T18:02Z [----] followers, [----] engagements "One may ask Does this heavy liquidity pose a risk to FX stability I'd say it's "low risk". Recall that the BOG has tightened the Net Open Position of banks. So banks cannot hold USD positions if there is no matching USD liabilities. So liquidity has to come back to GHS assets Liquidity overloads GHS 13.7bn rejected at Friday's T-bill auction. While investors & banks are scratching their heads on where to place these funds another GHS10bn+ will hit d market on Monday [--] Feb. as DDEP bond coupons So you see why GOG believes COCOBOD can do local bonds Liquidity overloads GHS 13.7bn rejected at" [X Link](https://x.com/GameliMartey/status/2022743441759699176) 2026-02-14T18:43Z [----] followers, [----] engagements "@_edemkojo @DesmondBredu The thing with investment advise is that they are usually valid for a limited timeframe subject to market conditions risk appetite & cash flow needs. But recipients of these advise take them as perpetual and blanket advise and takes a permanent investment decisions" [X Link](https://x.com/GameliMartey/status/2022756891118469574) 2026-02-14T19:36Z [----] followers, [---] engagements "Watch DSTV move a number of the CL games and other EPL channels into premium bouquet in order to retain a lot of GHS [---]. Otherwise there's a risk of downgrades to Compact at GHS [---] since one can get EPL and CL games on Compact+ (via Compact). All what is happening is the psychology of pricing because DSTV has data that majority of customers are on compact + and Champions League is currently ongoing so they will just maintain paying [---] to enjoy premium bouquet All what is happening is the psychology of pricing because DSTV has data that majority of customers are on compact + and Champions" [X Link](https://x.com/GameliMartey/status/1973003546162552924) 2025-09-30T12:34Z [---] followers, [---] engagements "If Arsenal was the one playing PSG in the CWC final would he leave at half time that he's tired of watching too much football Mind you at half time Chelsea had already finished off PSG. His own be jealousy. Nothing else. Thierry Henry says he's tired of watching too much football and left PSG vs Chelsea at half-time: π£ "As a fan I'm tired. I didn't watch the Club World Cup I had to do something in the final I left at half-time. It's too much. I love my family and at some points I need a https://t.co/trxiQexRaQ Thierry Henry says he's tired of watching too much football and left PSG vs" [X Link](https://x.com/GameliMartey/status/1973769735537078596) 2025-10-02T15:19Z [---] followers, [---] engagements "Important note Disinflation (slower rise in prices) is NOT deflation (fall in prices). If inflation falls but still positive prices r still rising but slower now Even at low inflation we'd need long period of economic growth to regain purchasing power & start feeling it You are being distracted And the NDC administration is terrible at explaining things. Credit: @CharmainesPosts (tiktok) https://t.co/AC5Y57lF6f You are being distracted And the NDC administration is terrible at explaining things. Credit: @CharmainesPosts (tiktok) https://t.co/AC5Y57lF6f" [X Link](https://x.com/GameliMartey/status/1974368477961167143) 2025-10-04T06:58Z [---] followers, [----] engagements "Wrong We've explained dis severally The FX sales r happening within d framework of d Domestic Gold Purchase Prog: Goldbod brings FX from its export BOG supplies part of it to meet market demand mops GHS to pay Goldbod. BOG keeping d FX & using its own GHS wuld be inflationary BoGs FX sale: Selling US$1.15 billion now is like using your last savings to impress the landlord bold but broke - Prof. Isaac Boadi. #JoyNews https://t.co/KRLbRY49L3 BoGs FX sale: Selling US$1.15 billion now is like using your last savings to impress the landlord bold but broke - Prof. Isaac Boadi. #JoyNews" [X Link](https://x.com/GameliMartey/status/1976699370004529641) 2025-10-10T17:20Z [---] followers, 22.9K engagements "In my inflation note for Sep. I hinted of upside risk to October inflation emerging from higher fuel & utility costs due to GHS depreciation in 3Q25. With the recent GHS rally I wont rule out the BOG trying to curb that risk especially ahead of 1Q2026 utility tariff hike" [X Link](https://x.com/GameliMartey/status/1978843131966574599) 2025-10-16T15:19Z [---] followers, [----] engagements "@citizenyao π (1) Assume banks decide to take ur advise. What will happen Immediately all their bond holdings will b 100% risk-weighted. That'll lead to sharp drop in their capital adequacy ratio below required minimum & they'll hv to recapitalize immediately instead of d 3yr grace period" [X Link](https://x.com/GameliMartey/status/1704370417564078092) 2023-09-20T05:42Z [----] followers, [--] engagements "@citizenyao (2)That's the revised budget attached. I rather see a CUT in Appropriation from GHS 227bn in original budget to GHS [---] in revised budget. If we exclude arrears payt & amortzn Total Expenditure (on commitment basis) was CUT by GHS 7bn to GHS 183bn. Can they do more Yes" [X Link](https://x.com/GameliMartey/status/1704372064386224387) 2023-09-20T05:49Z [----] followers, [--] engagements "We won't fall [--] dis lyrics again. Assume his data is right: (1) JM borrowed $37bn in 7yrs. At FX rate of [----] dat's 141bn. But in less than 7yrs Bawumia added 434bn to current debt stock of 575bn (2) We shall not forget d benefits of HIPC debt relief which helped Kuffour He said he wants to be President of Ghana . These are his words in [----] but suits todays situation he has helped Akufo Addo to plunge us. Hes just a failed lying braggart. https://t.co/25ULI2POyW He said he wants to be President of Ghana . These are his words in [----] but suits todays situation he has helped Akufo Addo to" [X Link](https://x.com/GameliMartey/status/1718617501930594706) 2023-10-29T13:15Z [----] followers, [---] engagements "@annerquaye @ericwallerstein I seriously think the FED pivoted too soon. One thing we shouldn't forget is that at some point the financial market will do part of the work for monetary policy. They just need guidance. So if you guide them hawkishly they'd stay hawkish without additional tightening from you" [X Link](https://x.com/GameliMartey/status/1778475222183608343) 2024-04-11T17:28Z [----] followers, [--] engagements "On the flip side the adverse consequences of withdrawing USAID to developing countries will not be unidirectional. Given the higher return on investment in developing economies US companies have benefited from investment and market opportunities arising from USAID" [X Link](https://x.com/GameliMartey/status/1890373667370029431) 2025-02-14T12:12Z [---] followers, [--] engagements "Recall d decoupling of levies from VAT rate in [----] This is the outcome you'd get when tax policy focuses on the revenue generation lever of taxes ignoring the redistribution effect. Consequently deadweight loss is created in the economy. A case for merger of levies with d VAT" [X Link](https://x.com/GameliMartey/status/1890513611455369295) 2025-02-14T21:29Z [---] followers, [--] engagements "@CallmeAlfredo 226.2bn is commitment (not cash) + 49.2bn (commitment) + 3.75bn (commitment) = GHS 279.2bn (commitment for FY2024). But there was arrears build up of 31.2bn. This means that for the commitment of 279bn they only paid cash Expenditure of GHS 248bn (at the top) Hoping the accountants on here can help explain how the finance minister got to [---] billion cedis in total expenditure on commitment basis for [----] and clarify some inconsistencies. Ive tried and my head is spinning so I need help. In the main budget document the expenditure https://t.co/L4e9rKQqSb Hoping the accountants" [X Link](https://x.com/GameliMartey/status/1900844275585134642) 2025-03-15T09:39Z [----] followers, [---] engagements "@_edemkojo To the extent that they're able to earn a spread on that rate when they lend to commercial banks they should still be policy solvent. If there are losses again it'd most likely come from non-policy-related events on the financials" [X Link](https://x.com/GameliMartey/status/1933294566347620594) 2025-06-12T22:45Z [----] followers, [----] engagements "@CallmeAlfredo Absolutely. I was going to pick your brain on this final bit of deductive analysis before I noticed you had done it. I align perfectly. It appears there's been a slight slowdown in the run rate in last [--] months compared to first 6M2025. But there's a y/y surge in performance" [X Link](https://x.com/GameliMartey/status/1965403602366910814) 2025-09-09T13:15Z [----] followers, [---] engagements "@CallmeAlfredo But in terms of value the stronger world prices slightly pushed up the USD inflows per month cos 5M2025 = $3.9bn = Avg/mnth ($779m) 8M2025 = $6.3bn = avg/mnth ($787.5M) = implied avg/mnth June - Aug ($801.2M) Thus we need gold price to stay high while we sort volumes issues" [X Link](https://x.com/GameliMartey/status/1965410515624362232) 2025-09-09T13:42Z [----] followers, [---] engagements "Let's put the BOG's tight monetary stance into perspective. At end-2024 the BOG had mopped GHS 20bn excess GHS from the market (1.7% of GDP). As of [--] Sep-2025 BOG holds GHS 92bn excess GHS out of the market (6.6% of GDP). That's extra GHS that could hv caused FX pressure" [X Link](https://x.com/GameliMartey/status/1968960104956363084) 2025-09-19T08:47Z [---] followers, [---] engagements "It may seem as though the GHS appreciation has bottomed-out. π€π½" [X Link](https://x.com/GameliMartey/status/1979423178326769939) 2025-10-18T05:43Z [---] followers, [----] engagements "@asaberekwame @_edemkojo Thanks Edem. Fully aligned. Prices are downwardly inflexible. But for d Cedi gains inflation won't be at 9.4% today. This means dat prices aren't rising as fast as last yr. Actually some items have deflated prices y/y. I bought 25litr oil at [----] in [----]. This year it's 570" [X Link](https://x.com/GameliMartey/status/1979528980899267058) 2025-10-18T12:44Z [---] followers, [---] engagements "Why Gold fell sharply today Profit-taking Easing US-China trade tensions A stronger USD and Technical signals showing that Gold is overbought. https://m.economictimes.com/news/international/us/why-is-gold-down-today-gold-price-crashes-over-5-its-worst-single-day-drop-since-2013-silver-plunges-7/articleshow/124724560.cms https://m.economictimes.com/news/international/us/why-is-gold-down-today-gold-price-crashes-over-5-its-worst-single-day-drop-since-2013-silver-plunges-7/articleshow/124724560.cms" [X Link](https://x.com/GameliMartey/status/1980707690390409621) 2025-10-21T18:48Z [---] followers, [----] engagements "I've seen comments that it has not reflected in lower prices which is fair. Prices are downwardly inflexible Howeva if policymakers can sustain d macro stability real income levels will rise over time and we can afford the usual things again and it'd feel reflected in prices" [X Link](https://x.com/GameliMartey/status/1981294644181774396) 2025-10-23T09:40Z [---] followers, [----] engagements "@Teimensah1 Absolutely agree with you. I also recently gave example of cooking oil price this year compared to last year. But was commenting from a macro (aggregate) view. Even that the decline in inflation means prices aren't rising as fast as last year. So we can infer it has reflected" [X Link](https://x.com/GameliMartey/status/1981526668024893645) 2025-10-24T01:02Z [---] followers, [--] engagements "Interesting view. I thought it is very obvious by now that there's a difference between GROSS issuance/borrowing and NET (or ACTUAL) issuance/borrowing. Out of the GHS 75bn only GHS 8bn is expected to be NEW (or ACTUAL) borrowing. The rest is to repay existing T-bills This reckless borrowing must stop. https://t.co/Sst4QZJvGb This reckless borrowing must stop. https://t.co/Sst4QZJvGb" [X Link](https://x.com/GameliMartey/status/1983099297966239823) 2025-10-28T09:11Z [----] followers, [----] engagements "@Kyekyequ @citizenyao @_edemkojo And to be clear you meant "Overall budget surplus" not "primary surplus" @citizenyao I strongly doubt on "overall budget surplus " in 4-yrs. I think there's a lot of deferred or pent-up spending that would gradually be unleashed. Also $10bn BIG PUSH agenda sef dey there" [X Link](https://x.com/GameliMartey/status/1983628347273019553) 2025-10-29T20:13Z [---] followers, [---] engagements "(1) BOG has so far mopped up extra 60bn from the market to reduce GHS-USD imbalance (2) New MPC's first action was a 100bps hike to partly reverse previous cut (3) BOG not injecting excess GHS to buy Gold. (4) BOG tightened the allowable USD balance of banks I could go on. No strange thing has been done by the Bank of Ghana to manage the Cedi Oppong Nkrumah https://t.co/KqjNqlJNXA #BankOfGhana #Cedi #KojoOppongNkrumah No strange thing has been done by the Bank of Ghana to manage the Cedi Oppong Nkrumah https://t.co/KqjNqlJNXA #BankOfGhana #Cedi #KojoOppongNkrumah" [X Link](https://x.com/GameliMartey/status/1985288039166570615) 2025-11-03T10:08Z [---] followers, [----] engagements "@Aayaagayugu @tv3_ghana @konkrumah Absolutely I recall how in the past BOG will be hiking the policy rate signalling that it is trying to control inflation. However it was still financing the Treasury ultimately fueling the same inflation. This is just a lack of policy credibility which market will penalise" [X Link](https://x.com/GameliMartey/status/1985292091757346878) 2025-11-03T10:24Z [---] followers, [--] engagements "Inflation may just end [----] around the lower end of BOG's target range of 6% - 10% (or below the lower end if this momentum continues). Consequently the policy rate may just be landing at between 17% - 18% after the Nov-2025 MPC meeting. But policy stance will still be tight. Inflation cools to 8% from 9.4% @business https://t.co/h4J1CHCrDm Inflation cools to 8% from 9.4% @business https://t.co/h4J1CHCrDm" [X Link](https://x.com/GameliMartey/status/1986076182576615472) 2025-11-05T14:20Z [---] followers, [----] engagements "@TreasuryHubGH Absolutely.We expected the macro landscape to improve but the pace and durability of improvement is jaw-dropping and this has been achieved with little-to-no sacrifice on GDP Growth. Indeed it's a soft landing. Divinity may just have revealed my report sub-title to you π" [X Link](https://x.com/GameliMartey/status/1986114754554044878) 2025-11-05T16:53Z [---] followers, [--] engagements "@TreasuryHubGH Absolutely π€π½ At next week Thursday budget reading I can imagine Ato Forson glowing from cheek to cheek when he reads out the section on [----] Macroeconomic Performance.π€£π€£" [X Link](https://x.com/GameliMartey/status/1986542630801453507) 2025-11-06T21:14Z [---] followers, [--] engagements "FX Reserve built without Eurobonds Cocoa loans or FT Bond placement Annual inflation likely to end [----] at lowest level since Aug-2013 BOG Gold purchases without GHS liquidity spike Fiscal austerity coexisting with strong growth Lower interest rate without FX pressure THE COUNTDOWN HAS BEGUN Thursday 13th November [----] Through your resilience and sacrifice we have stabilised the economy. Now its time to grow to transform and to build the Ghana We Want Share your expectations for #Budget2026 https://t.co/cmCmd6C0wu THE COUNTDOWN HAS BEGUN Thursday 13th November [----] Through your resilience and" [X Link](https://x.com/GameliMartey/status/1986789599235002792) 2025-11-07T13:35Z [---] followers, 14.1K engagements "Before you go misleading people I need to correct you. (1) Check the markets. Yields on local bonds fell from c.27% at year start to c.15% currently. That's a rise in value of the bonds.not suffering. (2) Inflation is NOT prices. So lower inflation DOES NOT mean lower prices. @GameliMartey Ghanaian bonds suffering foreign earnings + remittances suffering and prices haven't reduced @GameliMartey Ghanaian bonds suffering foreign earnings + remittances suffering and prices haven't reduced" [X Link](https://x.com/GameliMartey/status/1986905618884796650) 2025-11-07T21:16Z [---] followers, [----] engagements "@asaberekwame I get you Nana But understanding d economic meaning is also important bcos it helps you to distinguish btwn micro-level event & macro-level event. Eg it's a fact that some individual items have seen lower prices. But positive inflation means prices hv risen generally/averagely" [X Link](https://x.com/GameliMartey/status/1986911250929074179) 2025-11-07T21:38Z [---] followers, [---] engagements "@asaberekwame Also individual experiences with inflation differ. Your spending basket may be dominated by high & rising cost items. So you may be experiencing inflation. Another person's may be dominated by falling price items. That person may see deflation. But national average is inflation" [X Link](https://x.com/GameliMartey/status/1986913122779865131) 2025-11-07T21:46Z [---] followers, [---] engagements "@asaberekwame You paaa π Cooking oil is used by everyone. My cooking oil price fell by 52.5% YoY Nana stop buying things from exotic markets where they charge premium for d same satisfaction you'd get from standard market Or am I doing too much utility maximization theory in my shopping π€" [X Link](https://x.com/GameliMartey/status/1986915714909777965) 2025-11-07T21:56Z [---] followers, [--] engagements "@asaberekwame ππ be careful next time. But yea. She's right to some extent. If the price drops were across broad Ghana would be recording y/y deflation not inflation. At least utilities are up y/y and they take a lot from the budget. But fuel and transport are also down y/y" [X Link](https://x.com/GameliMartey/status/1986928324233269708) 2025-11-07T22:46Z [---] followers, [--] engagements "@asaberekwame I know right ππ Sincerely that insensitive behavior of drivers deeply annoys me especially at rush hours. They're going Lapaz from Accra Central but they'll insist on only circle first. Give me the IGP position for one day and I'll lock them all in jail for that" [X Link](https://x.com/GameliMartey/status/1987018476049850684) 2025-11-08T04:44Z [---] followers, [--] engagements "In June [----] Fitch upgraded Ghana's credit to "B" category. Now S&P has also upgraded Ghana's credit to "B" category. It makes Moody's now appear too pessimistic on Ghana despite having upgraded the country from Caa2 to Caa1 in October [----]. Ghana needs to prove them wrong. Ghana Upgraded To 'B-/B' On Improving Fiscal And S&P Global Ratings https://t.co/7G0WNpYnu0 Ghana Upgraded To 'B-/B' On Improving Fiscal And S&P Global Ratings https://t.co/7G0WNpYnu0" [X Link](https://x.com/GameliMartey/status/1987186305118122301) 2025-11-08T15:51Z [---] followers, [----] engagements "It's interesting that the government which brought the IMF completely went off track on most of its KPIs. E.g A jaw-dropping primary deficit of 3.9% of GDP instead of a target surplus of 0.5%. Arrears of GHS 68.8bn against a target of zero arrears. A 23.8% inflation vs 18% target You cannot commend government for the economic successes under an IMF programme without commending the government that brought in the IMF Dr. Tiah Mahama. #2026Budget #JoyNews https://t.co/dvJSzZKBre You cannot commend government for the economic successes under an IMF programme without commending the government that" [X Link](https://x.com/GameliMartey/status/1989070730399740301) 2025-11-13T20:39Z [----] followers, [----] engagements "As a result of ECG's improved collections and compliance with the Cash Waterfall Mechanism the amount required from the Treasury to pay energy sector shortfall has now dropped to GHS 15.2bn for [----] (from GHS 28bn in 2025). The government has put the energy sector in a remarkably great shape. Basically taken us off the fiscal cliff. ECG is doing exceedingly well with average monthly revenue up 90%. Yet the government still has privatization as an objective. It just beats my mind. The government has put the energy sector in a remarkably great shape. Basically taken us off the fiscal cliff. ECG" [X Link](https://x.com/GameliMartey/status/1989104627967762620) 2025-11-13T22:54Z [----] followers, [----] engagements "@obiMpenaAustine @MaameEsiGold The thing with the CAPEX budget is that it is a discretionary spending (though important for growth) & tied to oil revenue performance. Lower oil price & FX rate (than budget estimate) meant that CAPEX had to take the hit. Not also prudent to borrow via T-bills to fund CAPEX" [X Link](https://x.com/GameliMartey/status/1989112315967668360) 2025-11-13T23:25Z [----] followers, [---] engagements "Last week GHS 13.4bn worth of BOG bills matured for banks to redeem. But d banks rolled over all that maturity & added extra GHS 3.4bn to make GHS 16.8bn in 56-day BOG bill at 21.5% yield. Same time GOG fell short of T-bill target by GHS 1.7bn. Banks choosing higher safe yield" [X Link](https://x.com/GameliMartey/status/1990473049360249022) 2025-11-17T17:32Z [----] followers, [----] engagements "@Kyekyequ Surely Let's even assume half of d outst. OMO is liquidity mgt and remainder is investment port. That's GHS 50bn. Now add incoming GHS 30bn arrears payment in [----]. That's another that needs placement option. Now add potential offshore risk-on bids (amid a dovish FED in 2026)" [X Link](https://x.com/GameliMartey/status/1990526775466865023) 2025-11-17T21:05Z [----] followers, [---] engagements "@Kyekyequ Our elders say "you don't test the depth of the river with both feet" π I think they'd be cautious with private placements and smaller sizes to test market appetite and build momentum from that. FY26 budget used "strategic" approach. IMF staff report also suggest "caution"" [X Link](https://x.com/GameliMartey/status/1990533105980215342) 2025-11-17T21:30Z [---] followers, [--] engagements "Interesting (1) "Measures implemented in Apr-2024 culd hv brought single digit inflation in 2025" .. But inflation accelerated from 20.4% in Aug-24 to 23.8% in Dec-24. (2) Sterilisation is now defined as "siphoning" When rational banks themselves decided not to take risk" [X Link](https://x.com/GameliMartey/status/1991002645654561218) 2025-11-19T04:36Z [---] followers, [----] engagements "It is important to note that sterilisation is a measure to neutralize the effect of an earlier action that caused an excessive growth in money supply. After excessive injection of money supply to finance govt deficit a more serious Central Bank is now mopping up for stability" [X Link](https://x.com/GameliMartey/status/1991005259812999660) 2025-11-19T04:46Z [---] followers, [---] engagements "Real GDP Growth [----] 1Q2024: 4.5% 2Q2024: 5.7% 1H2024: 5.1% (Average) NB: [----] saw loose fiscal spending. Real GDP Growth [----] 1Q2025: 6.3% 2Q2025: 6.3% 1H2025: 6.3% (Average) NB: [----] saw tight squeeze on fiscal spending. Data source: GSS Judge for yourself. Your excessive fiscal cuts hurting growth Gideon Boako to Finance Minister Follow our WhatsApp channel for all the breaking stories: https://t.co/oCmXdY5bVP #JoyNews https://t.co/oLBdvnXdYw Your excessive fiscal cuts hurting growth Gideon Boako to Finance Minister Follow our WhatsApp channel for all the breaking stories:" [X Link](https://x.com/GameliMartey/status/1991075907692273802) 2025-11-19T09:27Z [----] followers, [----] engagements "@Mike_Amanpene A looser policy (instead of prudent spending) would have put over GHS 12bn of unvalidated claims (out of GHS 68bn inherited arrears) in unproductive hands. This would likely create growth in trades but with associated inflation. And this is called an unaffordable growth" [X Link](https://x.com/GameliMartey/status/1991090480625398064) 2025-11-19T10:25Z [----] followers, [---] engagements "@Mike_Amanpene For [----] total expenditure is programmed to rise by GHS 50.7bn. Out of that amount over 66% is earmarked for CAPEX. This should support growth in construction transport logistics banking insurance and other ancillary activities around infrastructure. subject to revenue" [X Link](https://x.com/GameliMartey/status/1991091086362574910) 2025-11-19T10:28Z [---] followers, [---] engagements "@Mike_Amanpene I get you. And I would even prefer 7% growth. However we need to proceed with caution. CAPEX of 25% GDP would mean significant public outlay (even with PPP). This will renew borrowing pressure for non-commercial projects (low ROI). This will threaten debt sustainability again" [X Link](https://x.com/GameliMartey/status/1991093924770050289) 2025-11-19T10:39Z [---] followers, [---] engagements "@Mike_Amanpene Additionally we need investment in manufacturing and value creation ventures because these ventures create more sustainable jobs than construction which may be casual and transitory even though they form the basis for productivity in other sectors" [X Link](https://x.com/GameliMartey/status/1991094526099009747) 2025-11-19T10:41Z [---] followers, [---] engagements "RESULTS OF OPEN MARKET OPERATION (OMO) by Bank of Ghana this week. BOG Bills maturity (this week): GHS 19.1bn Amount mopped up by BOG (this week): GHS 16.4bn This means banks redeemed (or took back cash) of GHS 2.7bn this week. Total holding outstanding in BOG Bill: GHS 94.6bn" [X Link](https://x.com/GameliMartey/status/1991441399930348026) 2025-11-20T09:40Z [----] followers, [---] engagements "@Kyekyequ Hahaha.Question for the gods bro. But I think that it's likely driven by either or both of two things. (1) Rotation into credit portfolio for higher yields (2) Need for higher cash balances to meet customer withdrawals for the week. Otherwise lock-in OMO bill ahead of MPR cut" [X Link](https://x.com/GameliMartey/status/1991500479508148359) 2025-11-20T13:34Z [---] followers, [--] engagements "In basic macroeconomics we define Govt spending multiplier = 1/(1-b+bt) & Tax multiplier = -b/(1-b+bt). Where b & t are [--]. The results show that govt spending has a higher & contrasting effect on GDP Growth than taxes. But this is only possible with efficient spending" [X Link](https://x.com/GameliMartey/status/1992193739670815063) 2025-11-22T11:29Z [---] followers, [---] engagements "My Highlights and Quick Take from the Bank of Ghana's ongoing Monetary Policy Committee meeting (November 2025)" [X Link](https://x.com/GameliMartey/status/1993296926222270689) 2025-11-25T12:33Z [----] followers, [----] engagements "This is what we call "cutting without cutting" as noted by JP Morgan. A smart move by the CBN to appear hawkish while making a cautiously dovish move. Keeping the MPR unchanged at 27% highlights the CBNs continued concern about near-term inflation pressures especially with the uptick in October month-on-month inflation. The move from a symmetric corridor (+250bps/250bps) to an asymmetric corridor (+50bps/450bps) delivers a https://t.co/pkA1wrvbJ6 Keeping the MPR unchanged at 27% highlights the CBNs continued concern about near-term inflation pressures especially with the uptick in October" [X Link](https://x.com/GameliMartey/status/1993614738232877534) 2025-11-26T09:36Z [----] followers, [---] engagements "@Kyekyequ @TreasuryHubGH @_edemkojo @asaberekwame @Joe_Jackson_GH @mytheoz @MoF_Ghana @NorvanReports Yea. Just as you flagged earlier strategic fine-tuning of money market liquidity to provide a favourable condition for issuances. Thanks for the info on changes to the interest rate corridor. So they opted to implement part of the dovishness thru the interest rates corridor" [X Link](https://x.com/GameliMartey/status/1995588325110153437) 2025-12-01T20:18Z [----] followers, [--] engagements ""It pains me anytime we resort to higher taxes instead of widening compliance and improving collection. We cannot keep piling taxes on an already burdened taxpayer". The Laffer Curve Theory on my mind. Finally a minister that speaks my language and emotion. A while ago I paid a working visit to the Osu Tax Service Centre to engage the dedicated men and women driving our domestic revenue mobilisation. We have done well on expenditure control and the central bank is performing strongly. Now revenue must rise to the challenge. I https://t.co/1ijMT7e5yk A while ago I paid a working visit to the" [X Link](https://x.com/GameliMartey/status/1998125631087755385) 2025-12-08T20:20Z [----] followers, [---] engagements "@NanaK_Baidoo Salaries to teachers & nurses are counted as fiscal cost ideally financed from revenue (or debt). Central Bank FX doesn't finance fiscal operations. The actual word is "intermediate". How about those FX sold directly to the market by GoldBod It wuld still hv same effect" [X Link](https://x.com/GameliMartey/status/1999229463217704974) 2025-12-11T21:27Z [----] followers, [--] engagements "@peagama @yabbanx @konkrumah I'm tempted to strongly believe that politicians know exactly what they're doing when they try to confuse the unsuspecting public. What "alternative use" do you put Central Bank FX reserves to What if GoldBod was allowed to sell all $10bn directly to the market instead of BOG" [X Link](https://x.com/GameliMartey/status/1999232054316159238) 2025-12-11T21:37Z [----] followers, [---] engagements "A lot has been said about d eye-popping rally of d Ghana Stock Exchange in [----] with a YTD gain of 77%. But d domestic bond market has also seen a remarkable surge over d same period. As shown in the IC Govt Bond Index chart below +62% YTD Investors are in the money this yearπ₯" [X Link](https://x.com/GameliMartey/status/1999569428912976030) 2025-12-12T19:57Z [----] followers, [---] engagements "@mytheoz Thanks for sharing doc. especially the link. There's something funny happening on the IMF website. You search under Ghana and you'd see Article IV consultations for Malaysia. You search under Zambia and you'd see Article IV consultations for Ecuador" [X Link](https://x.com/GameliMartey/status/2004161580473503960) 2025-12-25T12:05Z [----] followers, [---] engagements "Great job Sir. Strategic debt mgt. Recall that [----] had Eurobond obligation at USD700m while [----] had Eurobond obligation at USD1.4bn (2x 2025) But this strategy effectively means that we've taken the [----] hit in [----] to soften the [----] pressure as though it's [----] payment size GOVERNMENT OF GHANA SETTLES US$709 MILLION EUROBOND OBLIGATION The Ministry of Finance has successfully settled a US$709 million Eurobond obligation on 30th December [----] ahead of its due date marking another significant milestone in Ghanas economic recovery and https://t.co/azsWqzKUSQ GOVERNMENT OF GHANA SETTLES" [X Link](https://x.com/GameliMartey/status/2006269620164960319) 2025-12-31T07:42Z [----] followers, [----] engagements "It's an annual payment involving coupon + principal each yr (based on the restructured payment schedule). The schedule ends in [----]. But note: (1) [----] - [----] requires $1.0bn per yr. (2) Ghana may return to Eurobond issuance in future with maturities longer than [----] @GameliMartey When does it end and what is left Any idea @GameliMartey When does it end and what is left Any idea" [X Link](https://x.com/GameliMartey/status/2006277924190564513) 2025-12-31T08:15Z [----] followers, [----] engagements "@NanaK_Baidoo This is the restructured Eurobonds (concluded in Oct-2024). Also Eurobond issuances are typically marked for budget deficit financing & the GHS-equivalent proceeds lodged in the consolidated fund. Since money is fungible it's difficult to do attribution analysis from the fund" [X Link](https://x.com/GameliMartey/status/2006292188552908987) 2025-12-31T09:11Z [----] followers, [---] engagements "It's truly been a positive year for African FX. Nigeria also returned c.7% in FY25. Most of the advancers were either reformers (Ghana Nigeria Egypt South Africa & Zambia) and/or metal exporters (Ghana South Africa Congo & Zambia). Hope they can avoid reform fatigue in [----] Most African currencies performed well against the dollar in [----] but the CEDI was the star performer at almost 40% y/y appreciation followed by the Congolese franc Zambian Kwacha and SA Rand in that order. https://t.co/XXokrH04Nh Most African currencies performed well against the dollar in [----] but the CEDI was the star" [X Link](https://x.com/GameliMartey/status/2008548894503039191) 2026-01-06T14:39Z [----] followers, [---] engagements "From the statement as rightly observed by @obiMpenaAustine there would be more left. The $1.47bn = [---] (world Bank drawdown PRG) + $480 (all outs. Gas supply invoice) + [---] (substantial part of IPP debt). There's still remainder on IPP deb. I recall IPP arears was pegd at $1.7bn. Dear Minister @Cassielforson please for the sake of accountability can citizens be apprised on what % this payment represents and how much of the legacy debt is left to be paid Dear Minister @Cassielforson please for the sake of accountability can citizens be apprised on what % this payment represents and how much of" [X Link](https://x.com/GameliMartey/status/2010693512459702651) 2026-01-12T12:41Z [----] followers, [----] engagements "@_edemkojo Back of the envelope. GHS30000 = [----] units of MTNGH shares at today's price. In [----] MTNGH delivered a 68% price gain (capital appreciation) excl. Dividend yield. If [----] brings just a quarter of that price gain + dividend yield you could have GHS35000 by end-2026. π₯" [X Link](https://x.com/GameliMartey/status/2010822975830843742) 2026-01-12T21:15Z [----] followers, [---] engagements "@Mike_Amanpene In fairness gold price climb started getting steeper since [----] when Russia's invasion of Ukraine and resultant sanctions triggered aggressive Central Bank buying to reduce the USD concentration of forex reserves. Since then global geopolitical tensions have only intensified" [X Link](https://x.com/GameliMartey/status/2011149939536224675) 2026-01-13T18:54Z [----] followers, [----] engagements "@Mike_Amanpene But I'd think that the main thing is what the administration did to be able to capture and internalize this price surge. So prices can surge but you'd also need domestic policies to take advantage of the favourable external conditions" [X Link](https://x.com/GameliMartey/status/2011150932877459620) 2026-01-13T18:58Z [----] followers, [---] engagements "@Mike_Amanpene And I agree with you. Ordinarily the fall in inflation should lead to a mean-reversal in gold price if it were solely used as inflation hedge. But no. In fact both stock market (risk assets) & gold (safe-haven asset) rallying at the same time underscores d geopolitical stress" [X Link](https://x.com/GameliMartey/status/2011151916546605403) 2026-01-13T19:02Z [----] followers, [---] engagements "@_edemkojo Very very likely so. Banks locking in ahead of rate cut. BOG also likely to mindful of the liquidity conditions especially for FX risk. Although the tighter N.O.P. limits will help to partly contain the FX risk" [X Link](https://x.com/GameliMartey/status/2014725331328864577) 2026-01-23T15:42Z [----] followers, [--] engagements "@NanaK_Baidoo Lol. It will definitely take a while for macro improvement to restore credit worthiness especially with NPLs still an issue (industry average still around 20%). Additionally new money may be coming thru the system faster than credit demand can absorb" [X Link](https://x.com/GameliMartey/status/2014726246240788758) 2026-01-23T15:45Z [----] followers, [--] engagements "Just for ceremonial reasons or sound economic basis If I may ask what is the velocity of the GHS [---] note What is the velocity of the GHS [---] note Why would you bring a higher denomination that would have zero velocity. especially amid growing adoption of virtual money https://t.co/Js8CeZ4Vk3 https://t.co/Js8CeZ4Vk3" [X Link](https://x.com/GameliMartey/status/1983632359913316487) 2025-10-29T20:29Z [----] followers, [---] engagements "This week GHS 8.87bn matured on the 56-day Open Market Operation (OMO) securities issued by BOG at 21.5%. However only GHS 2.93bn was rolled over at the new 14-day tenor & at a lower yield of 14.2%. This means GHS 5.94bn was released into the market to ease GHS liquidity" [X Link](https://x.com/GameliMartey/status/1996513993062772759) 2025-12-04T09:36Z [----] followers, [---] engagements "@Kevin_Carey_WB True. Very likely the case. The attached security info show the DPB is a Sinkable Bond with final maturity in July [----]. The outs. Bal of $209M suggests that the latest payment of $709M likely include $313.5M principal of the [----] DPB. Final part to be paid in July 2026" [X Link](https://x.com/GameliMartey/status/2006446593860579402) 2025-12-31T19:25Z [----] followers, [---] engagements "@_edemkojo The [--] Jan maturity had 14.47%. maturity size was GHS 11.61bn And the [--] Jan maturity had 14.48%. maturity size was GHS 11.19bn. Yields typically don't change unless MPR changes. Or BOG auction strategy changes" [X Link](https://x.com/GameliMartey/status/2014628792849858654) 2026-01-23T09:18Z [----] followers, [--] engagements "Absolutely align with the thoughts here. It is noteworthy that the bids for the 364-day tenor exceeded the shorter-dated tenors for the 2nd consecutive auction supporting the view that investors are trying to lock-in current yields ahead of policy rate cut and yield downshift Government of Ghana Treasury Bill Auction 26JAN2026 In a week where the Bank of Ghana mopped up GHS 42bn through 14-day OMO Bills Ministry of Finance also raised GHS 12.8bn against the GHS 15.9bn in bids tendered. Total maturities amounted to GHS 11bn compared to the https://t.co/eQg2gLHVCK Government of Ghana Treasury" [X Link](https://x.com/GameliMartey/status/2015091716697530615) 2026-01-24T15:57Z [----] followers, [---] engagements "@Dommychou @CallmeAlfredo Risk management strategy via portfolio diversification from Gold stock into other earning assets while aligning the stock of gold-to-GIR with peer country ratios" [X Link](https://x.com/GameliMartey/status/2016565631009624575) 2026-01-28T17:34Z [----] followers, [--] engagements "@Dommychou @CallmeAlfredo Can't work the math without extra info. Gold value fell by $895M but GIR rose by $2.4bn. not 1:1 Trade date not known (notice Nov is missing). Asset bought and date of purchase not known. Market value of asset not known. Yield on asset not known. So we need mor info to tell" [X Link](https://x.com/GameliMartey/status/2016596632112861227) 2026-01-28T19:37Z [----] followers, [--] engagements "I'm really struggling to hold back my laughter π Do I still need a PHD π€ Tell me its not true. You mean the gold reserves the NPP built from 8.74t(from independence) to 30.5t in less than [--] years has being reduced to 18.6t by the NDC in just [----] Interesting times ahead https://t.co/occ6t5K9pV Tell me its not true. You mean the gold reserves the NPP built from 8.74t(from independence) to 30.5t in less than [--] years has being reduced to 18.6t by the NDC in just [----] Interesting times ahead https://t.co/occ6t5K9pV" [X Link](https://x.com/GameliMartey/status/2016839745238638779) 2026-01-29T11:44Z [----] followers, [----] engagements "@_edemkojo @Mike_Amanpene My understanding of the BOG decision is that it is more of diversification and reduction of concentration risk than profit-taking. Holding nearly 1/3rd of GIR when peers are holding between 1/5th & 1/4th just shows how concentrated & vulnerable we are relative to peers" [X Link](https://x.com/GameliMartey/status/2016926832054981071) 2026-01-29T17:30Z [----] followers, [---] engagements "It was a pleasure to welcome u to Ghana and to rub minds on the Ghanaian economy @emsovdebt. Thanks for the follow back. And immensely grateful for the complimentary copy of your book. A book I deeply wished for since last year. You granted my wish in a flash Gregory. Thank u" [X Link](https://x.com/GameliMartey/status/1524045714300583936) 2022-05-10T15:16Z [----] followers, [--] engagements Limited data mode. Full metrics available with subscription: lunarcrush.com/pricing
@GameliMartey Gameli K. MarteyGameli K. Martey posts on X about inflation, ghana, liquidity, money the most. They currently have [-----] followers and [---] posts still getting attention that total [---] engagements in the last [--] hours.
Social category influence finance 72% currencies 32% countries 18% technology brands 2% social networks 1% stocks 1%
Social topic influence inflation 17%, ghana #2437, liquidity #1215, money 10%, finance 9%, debt 7%, bank 6%, market 5%, investment 5%, gdp 5%
Top accounts mentioned or mentioned by @edemkojo @asaberekwame @kyekyequ @mikeamanpene @konkrumah @callmealfredo @citizenyao @treasuryhubgh @nanakbaidoo @mrkwei @obimpenaaustine @mytheoz @peagama @dommychou @nanadarko @desmondbredu @charmainesposts @annerquaye @ericwallerstein @teimensah1
Top posts by engagements in the last [--] hours
"Ghana's interbank market liquidity is looking flush these days. This week total of GHS 22.81bn matured on the 14-Day BOG bills. However commerical banks placed GHS 41.36bn for another 14-Day at a yield of 14.49%. This will be a talking point at next week's MPC meeting"
X Link 2026-01-23T08:27Z [----] followers, [---] engagements
"Case Study: Ghana [----] - [----]. End of explanation. People in finance and economics pls explain this like Im 7: if a country doesnt have money why cant it just print more and end poverty People in finance and economics pls explain this like Im 7: if a country doesnt have money why cant it just print more and end poverty"
X Link 2026-02-07T08:18Z [----] followers, 49.5K engagements
"Spot on Scramble for placement ahead of that upcoming DDEP coupon (likely GHS 10bn) already being priced-in will be fully priced-in next week. With real returns attractively high btwn 6% - 8% there's wide room for T-bill rate to fall again next week dragging bond yields along Government of Ghana Treasury Bill Auction Results Treasury yields cratered by a massive 218bps - the steepest week-on-week compression YTD - as investors piled a staggering GHS 17.2bn into GoG money market instruments. The Ministry of Finance came in aggressively https://t.co/SOCLmKnqjR Government of Ghana Treasury Bill"
X Link 2026-02-07T13:58Z [----] followers, [----] engagements
"@asaberekwame Naaah. Not yet. Despite having come very far the GSE still has a long way to go in terms of listed stocks/asset class and float (or liquidity) of these stocks. Retail investors are now warming up to equities.& we prolly still need regulators to encourage product innovation"
X Link 2026-02-07T17:21Z [----] followers, [---] engagements
"@_edemkojo Bro You've said it all. I hope pple will read this with open mind. In fact OMO yield is currently down to 12% but banks still submitted over GHS 16bn yesterday.after submitting over GHS17bn at Friday T-bill at yields between 9.9% - 12%. It's more about credit risk than yield"
X Link 2026-02-10T16:50Z [----] followers, [---] engagements
"@Mr_Kwei @konkrumah Bro I don't get this fixation First without d aggressive sterilisation inflation will remain high & policy rate will stay high for long and d sterilisation cost carried on d BOG's P&L + macro-fiscal risk will persist for long.vs take a one-time hit and lower the rate quickly"
X Link 2026-02-10T17:56Z [----] followers, [--] engagements
"@Mr_Kwei @konkrumah 2ndly OMO yield is currently at 12% but banks still piling into BOG bills.over GHS16bn submitted yesterday. Even on T-bills rates are down to between 9.9% - 12% but over GHS17bn submitted. Banks r more concerned about credit risk. Sterilisation only mops up EXCESS liquidity"
X Link 2026-02-10T17:59Z [----] followers, [--] engagements
"@NanaDarko__ @_edemkojo Oil prices NEVER got to $140 in [----] (check chart below). Even in [----] (at the start of R-U war) it never got to $140. R-U war effect corrected quickly The screenshot you posted was a projection. NOT actual price Our main problem under last govt was Exchange Rate mismanagement"
X Link 2026-02-13T07:49Z [----] followers, [--] engagements
"Over-concentrating in Ghana risk by local fund managers Creating idle funds to become captive funds for the Treasury's imminent return to domestic bond issuance Target net Domestic Debt issuance for [----] is GHS 72bn (USD 6.5bn). Over GHS 12bn (17%) achieved in first month Ghana's Securities and Exchange Commission (SEC) has directed local fund managers to cut back on offshore investments as it seeks to protect the cedi currency and strengthen macroeconomic stability. https://t.co/xEH0ChqeaC Ghana's Securities and Exchange Commission (SEC) has directed local fund managers to cut back on"
X Link 2026-02-07T14:06Z [----] followers, [----] engagements
"Technically we don't "save" money in stocks. We "invest" in stocks. Stocks are "risk assets". An asset class that can suddenly swing wild enough to multiply your money or wipe out your money. Investment is risk-taking for higher returns. Savings is low risk to protect capital I want to have at least 30000cedis saved in stocks by the end of [----]. I want to have at least 30000cedis saved in stocks by the end of 2026"
X Link 2026-02-07T16:12Z [----] followers, 15.1K engagements
"RT @_edemkojo: I think right from the onset an erroneous assumption is made to imply that excess liquidity left in the banking system would"
X Link 2026-02-10T16:52Z [----] followers, [--] engagements
"Bro I think we need to end this argument at some point. We both know sterilisation only mops EXCESS LIQUIDITY. 2ndly OMO yield is down to 12% (from 30% in 2024) but banks still pushing EXCESS LIQUIDITY into sterilisation instruments. Banks are more concerned about credit risk For those who ask for evidence of our claim that the NDC Govt has sterilized about GHS [--] billion Cedis from the economy kindly read page [---] of the [----] budget. https://t.co/vYzhIx65Sg For those who ask for evidence of our claim that the NDC Govt has sterilized about GHS [--] billion Cedis from the economy kindly read"
X Link 2026-02-10T18:14Z [----] followers, [---] engagements
"@konkrumah 3rdly CRR is dynamic --means banks are encouraged to lend over 55% of their deposits & hold only 15% as reserves. But average LDR is about 33% area implying reserve of 25% (unremunerated). Yet banks still preferring safe low-yield OMO over high-yield risky credit"
X Link 2026-02-10T18:14Z [----] followers, [---] engagements
"@konkrumah Please also remember that the liquidity overhang has become structural as a result of the back-to-back-to-back years of money printing from [----] - [----]. That has created EXCESS LIQUIDITY beyond the economy's capacity to handle without price pressure unless it is mopped up Shalom"
X Link 2026-02-10T20:09Z [----] followers, [---] engagements
"KENINT [----] maturity reprofiled KENINT [----] maturity reprofiled. Now this idea also being signalled. Good thing is the liability management operations are proactive and easing external liquidity risks My only concern is whether it's another case of kicking the can down the road Kenya is considering more Eurobond issuance to pay off maturing debt as part of "liability management operations" to smooth out its debt maturity curve its finance minister said on Wednesday. https://t.co/cB1mJEwahd Kenya is considering more Eurobond issuance to pay off maturing debt as part of "liability management"
X Link 2026-02-11T16:30Z [----] followers, [---] engagements
"Observation: It's interesting to note that COCOBOD doubled-down on those cocoa road contracts (a quasi-fiscal activity) after the previous IMF program functionally ended with the [----] budget cycle. We can't seem to just stay fiscally discipline without IMF pressure. Smh. https://t.co/rB3zVLjSHr https://t.co/rB3zVLjSHr"
X Link 2026-02-12T18:19Z [----] followers, [---] engagements
"Liquidity overloads GHS 13.7bn rejected at Friday's T-bill auction. While investors & banks are scratching their heads on where to place these funds another GHS10bn+ will hit d market on Monday [--] Feb. as DDEP bond coupons So you see why GOG believes COCOBOD can do local bonds There is so much liquidity in the market There is so much liquidity in the market"
X Link 2026-02-14T18:02Z [----] followers, [----] engagements
"One may ask Does this heavy liquidity pose a risk to FX stability I'd say it's "low risk". Recall that the BOG has tightened the Net Open Position of banks. So banks cannot hold USD positions if there is no matching USD liabilities. So liquidity has to come back to GHS assets Liquidity overloads GHS 13.7bn rejected at Friday's T-bill auction. While investors & banks are scratching their heads on where to place these funds another GHS10bn+ will hit d market on Monday [--] Feb. as DDEP bond coupons So you see why GOG believes COCOBOD can do local bonds Liquidity overloads GHS 13.7bn rejected at"
X Link 2026-02-14T18:43Z [----] followers, [----] engagements
"@_edemkojo @DesmondBredu The thing with investment advise is that they are usually valid for a limited timeframe subject to market conditions risk appetite & cash flow needs. But recipients of these advise take them as perpetual and blanket advise and takes a permanent investment decisions"
X Link 2026-02-14T19:36Z [----] followers, [---] engagements
"Watch DSTV move a number of the CL games and other EPL channels into premium bouquet in order to retain a lot of GHS [---]. Otherwise there's a risk of downgrades to Compact at GHS [---] since one can get EPL and CL games on Compact+ (via Compact). All what is happening is the psychology of pricing because DSTV has data that majority of customers are on compact + and Champions League is currently ongoing so they will just maintain paying [---] to enjoy premium bouquet All what is happening is the psychology of pricing because DSTV has data that majority of customers are on compact + and Champions"
X Link 2025-09-30T12:34Z [---] followers, [---] engagements
"If Arsenal was the one playing PSG in the CWC final would he leave at half time that he's tired of watching too much football Mind you at half time Chelsea had already finished off PSG. His own be jealousy. Nothing else. Thierry Henry says he's tired of watching too much football and left PSG vs Chelsea at half-time: π£ "As a fan I'm tired. I didn't watch the Club World Cup I had to do something in the final I left at half-time. It's too much. I love my family and at some points I need a https://t.co/trxiQexRaQ Thierry Henry says he's tired of watching too much football and left PSG vs"
X Link 2025-10-02T15:19Z [---] followers, [---] engagements
"Important note Disinflation (slower rise in prices) is NOT deflation (fall in prices). If inflation falls but still positive prices r still rising but slower now Even at low inflation we'd need long period of economic growth to regain purchasing power & start feeling it You are being distracted And the NDC administration is terrible at explaining things. Credit: @CharmainesPosts (tiktok) https://t.co/AC5Y57lF6f You are being distracted And the NDC administration is terrible at explaining things. Credit: @CharmainesPosts (tiktok) https://t.co/AC5Y57lF6f"
X Link 2025-10-04T06:58Z [---] followers, [----] engagements
"Wrong We've explained dis severally The FX sales r happening within d framework of d Domestic Gold Purchase Prog: Goldbod brings FX from its export BOG supplies part of it to meet market demand mops GHS to pay Goldbod. BOG keeping d FX & using its own GHS wuld be inflationary BoGs FX sale: Selling US$1.15 billion now is like using your last savings to impress the landlord bold but broke - Prof. Isaac Boadi. #JoyNews https://t.co/KRLbRY49L3 BoGs FX sale: Selling US$1.15 billion now is like using your last savings to impress the landlord bold but broke - Prof. Isaac Boadi. #JoyNews"
X Link 2025-10-10T17:20Z [---] followers, 22.9K engagements
"In my inflation note for Sep. I hinted of upside risk to October inflation emerging from higher fuel & utility costs due to GHS depreciation in 3Q25. With the recent GHS rally I wont rule out the BOG trying to curb that risk especially ahead of 1Q2026 utility tariff hike"
X Link 2025-10-16T15:19Z [---] followers, [----] engagements
"@citizenyao π (1) Assume banks decide to take ur advise. What will happen Immediately all their bond holdings will b 100% risk-weighted. That'll lead to sharp drop in their capital adequacy ratio below required minimum & they'll hv to recapitalize immediately instead of d 3yr grace period"
X Link 2023-09-20T05:42Z [----] followers, [--] engagements
"@citizenyao (2)That's the revised budget attached. I rather see a CUT in Appropriation from GHS 227bn in original budget to GHS [---] in revised budget. If we exclude arrears payt & amortzn Total Expenditure (on commitment basis) was CUT by GHS 7bn to GHS 183bn. Can they do more Yes"
X Link 2023-09-20T05:49Z [----] followers, [--] engagements
"We won't fall [--] dis lyrics again. Assume his data is right: (1) JM borrowed $37bn in 7yrs. At FX rate of [----] dat's 141bn. But in less than 7yrs Bawumia added 434bn to current debt stock of 575bn (2) We shall not forget d benefits of HIPC debt relief which helped Kuffour He said he wants to be President of Ghana . These are his words in [----] but suits todays situation he has helped Akufo Addo to plunge us. Hes just a failed lying braggart. https://t.co/25ULI2POyW He said he wants to be President of Ghana . These are his words in [----] but suits todays situation he has helped Akufo Addo to"
X Link 2023-10-29T13:15Z [----] followers, [---] engagements
"@annerquaye @ericwallerstein I seriously think the FED pivoted too soon. One thing we shouldn't forget is that at some point the financial market will do part of the work for monetary policy. They just need guidance. So if you guide them hawkishly they'd stay hawkish without additional tightening from you"
X Link 2024-04-11T17:28Z [----] followers, [--] engagements
"On the flip side the adverse consequences of withdrawing USAID to developing countries will not be unidirectional. Given the higher return on investment in developing economies US companies have benefited from investment and market opportunities arising from USAID"
X Link 2025-02-14T12:12Z [---] followers, [--] engagements
"Recall d decoupling of levies from VAT rate in [----] This is the outcome you'd get when tax policy focuses on the revenue generation lever of taxes ignoring the redistribution effect. Consequently deadweight loss is created in the economy. A case for merger of levies with d VAT"
X Link 2025-02-14T21:29Z [---] followers, [--] engagements
"@CallmeAlfredo 226.2bn is commitment (not cash) + 49.2bn (commitment) + 3.75bn (commitment) = GHS 279.2bn (commitment for FY2024). But there was arrears build up of 31.2bn. This means that for the commitment of 279bn they only paid cash Expenditure of GHS 248bn (at the top) Hoping the accountants on here can help explain how the finance minister got to [---] billion cedis in total expenditure on commitment basis for [----] and clarify some inconsistencies. Ive tried and my head is spinning so I need help. In the main budget document the expenditure https://t.co/L4e9rKQqSb Hoping the accountants"
X Link 2025-03-15T09:39Z [----] followers, [---] engagements
"@_edemkojo To the extent that they're able to earn a spread on that rate when they lend to commercial banks they should still be policy solvent. If there are losses again it'd most likely come from non-policy-related events on the financials"
X Link 2025-06-12T22:45Z [----] followers, [----] engagements
"@CallmeAlfredo Absolutely. I was going to pick your brain on this final bit of deductive analysis before I noticed you had done it. I align perfectly. It appears there's been a slight slowdown in the run rate in last [--] months compared to first 6M2025. But there's a y/y surge in performance"
X Link 2025-09-09T13:15Z [----] followers, [---] engagements
"@CallmeAlfredo But in terms of value the stronger world prices slightly pushed up the USD inflows per month cos 5M2025 = $3.9bn = Avg/mnth ($779m) 8M2025 = $6.3bn = avg/mnth ($787.5M) = implied avg/mnth June - Aug ($801.2M) Thus we need gold price to stay high while we sort volumes issues"
X Link 2025-09-09T13:42Z [----] followers, [---] engagements
"Let's put the BOG's tight monetary stance into perspective. At end-2024 the BOG had mopped GHS 20bn excess GHS from the market (1.7% of GDP). As of [--] Sep-2025 BOG holds GHS 92bn excess GHS out of the market (6.6% of GDP). That's extra GHS that could hv caused FX pressure"
X Link 2025-09-19T08:47Z [---] followers, [---] engagements
"It may seem as though the GHS appreciation has bottomed-out. π€π½"
X Link 2025-10-18T05:43Z [---] followers, [----] engagements
"@asaberekwame @_edemkojo Thanks Edem. Fully aligned. Prices are downwardly inflexible. But for d Cedi gains inflation won't be at 9.4% today. This means dat prices aren't rising as fast as last yr. Actually some items have deflated prices y/y. I bought 25litr oil at [----] in [----]. This year it's 570"
X Link 2025-10-18T12:44Z [---] followers, [---] engagements
"Why Gold fell sharply today Profit-taking Easing US-China trade tensions A stronger USD and Technical signals showing that Gold is overbought. https://m.economictimes.com/news/international/us/why-is-gold-down-today-gold-price-crashes-over-5-its-worst-single-day-drop-since-2013-silver-plunges-7/articleshow/124724560.cms https://m.economictimes.com/news/international/us/why-is-gold-down-today-gold-price-crashes-over-5-its-worst-single-day-drop-since-2013-silver-plunges-7/articleshow/124724560.cms"
X Link 2025-10-21T18:48Z [---] followers, [----] engagements
"I've seen comments that it has not reflected in lower prices which is fair. Prices are downwardly inflexible Howeva if policymakers can sustain d macro stability real income levels will rise over time and we can afford the usual things again and it'd feel reflected in prices"
X Link 2025-10-23T09:40Z [---] followers, [----] engagements
"@Teimensah1 Absolutely agree with you. I also recently gave example of cooking oil price this year compared to last year. But was commenting from a macro (aggregate) view. Even that the decline in inflation means prices aren't rising as fast as last year. So we can infer it has reflected"
X Link 2025-10-24T01:02Z [---] followers, [--] engagements
"Interesting view. I thought it is very obvious by now that there's a difference between GROSS issuance/borrowing and NET (or ACTUAL) issuance/borrowing. Out of the GHS 75bn only GHS 8bn is expected to be NEW (or ACTUAL) borrowing. The rest is to repay existing T-bills This reckless borrowing must stop. https://t.co/Sst4QZJvGb This reckless borrowing must stop. https://t.co/Sst4QZJvGb"
X Link 2025-10-28T09:11Z [----] followers, [----] engagements
"@Kyekyequ @citizenyao @_edemkojo And to be clear you meant "Overall budget surplus" not "primary surplus" @citizenyao I strongly doubt on "overall budget surplus " in 4-yrs. I think there's a lot of deferred or pent-up spending that would gradually be unleashed. Also $10bn BIG PUSH agenda sef dey there"
X Link 2025-10-29T20:13Z [---] followers, [---] engagements
"(1) BOG has so far mopped up extra 60bn from the market to reduce GHS-USD imbalance (2) New MPC's first action was a 100bps hike to partly reverse previous cut (3) BOG not injecting excess GHS to buy Gold. (4) BOG tightened the allowable USD balance of banks I could go on. No strange thing has been done by the Bank of Ghana to manage the Cedi Oppong Nkrumah https://t.co/KqjNqlJNXA #BankOfGhana #Cedi #KojoOppongNkrumah No strange thing has been done by the Bank of Ghana to manage the Cedi Oppong Nkrumah https://t.co/KqjNqlJNXA #BankOfGhana #Cedi #KojoOppongNkrumah"
X Link 2025-11-03T10:08Z [---] followers, [----] engagements
"@Aayaagayugu @tv3_ghana @konkrumah Absolutely I recall how in the past BOG will be hiking the policy rate signalling that it is trying to control inflation. However it was still financing the Treasury ultimately fueling the same inflation. This is just a lack of policy credibility which market will penalise"
X Link 2025-11-03T10:24Z [---] followers, [--] engagements
"Inflation may just end [----] around the lower end of BOG's target range of 6% - 10% (or below the lower end if this momentum continues). Consequently the policy rate may just be landing at between 17% - 18% after the Nov-2025 MPC meeting. But policy stance will still be tight. Inflation cools to 8% from 9.4% @business https://t.co/h4J1CHCrDm Inflation cools to 8% from 9.4% @business https://t.co/h4J1CHCrDm"
X Link 2025-11-05T14:20Z [---] followers, [----] engagements
"@TreasuryHubGH Absolutely.We expected the macro landscape to improve but the pace and durability of improvement is jaw-dropping and this has been achieved with little-to-no sacrifice on GDP Growth. Indeed it's a soft landing. Divinity may just have revealed my report sub-title to you π"
X Link 2025-11-05T16:53Z [---] followers, [--] engagements
"@TreasuryHubGH Absolutely π€π½ At next week Thursday budget reading I can imagine Ato Forson glowing from cheek to cheek when he reads out the section on [----] Macroeconomic Performance.π€£π€£"
X Link 2025-11-06T21:14Z [---] followers, [--] engagements
"FX Reserve built without Eurobonds Cocoa loans or FT Bond placement Annual inflation likely to end [----] at lowest level since Aug-2013 BOG Gold purchases without GHS liquidity spike Fiscal austerity coexisting with strong growth Lower interest rate without FX pressure THE COUNTDOWN HAS BEGUN Thursday 13th November [----] Through your resilience and sacrifice we have stabilised the economy. Now its time to grow to transform and to build the Ghana We Want Share your expectations for #Budget2026 https://t.co/cmCmd6C0wu THE COUNTDOWN HAS BEGUN Thursday 13th November [----] Through your resilience and"
X Link 2025-11-07T13:35Z [---] followers, 14.1K engagements
"Before you go misleading people I need to correct you. (1) Check the markets. Yields on local bonds fell from c.27% at year start to c.15% currently. That's a rise in value of the bonds.not suffering. (2) Inflation is NOT prices. So lower inflation DOES NOT mean lower prices. @GameliMartey Ghanaian bonds suffering foreign earnings + remittances suffering and prices haven't reduced @GameliMartey Ghanaian bonds suffering foreign earnings + remittances suffering and prices haven't reduced"
X Link 2025-11-07T21:16Z [---] followers, [----] engagements
"@asaberekwame I get you Nana But understanding d economic meaning is also important bcos it helps you to distinguish btwn micro-level event & macro-level event. Eg it's a fact that some individual items have seen lower prices. But positive inflation means prices hv risen generally/averagely"
X Link 2025-11-07T21:38Z [---] followers, [---] engagements
"@asaberekwame Also individual experiences with inflation differ. Your spending basket may be dominated by high & rising cost items. So you may be experiencing inflation. Another person's may be dominated by falling price items. That person may see deflation. But national average is inflation"
X Link 2025-11-07T21:46Z [---] followers, [---] engagements
"@asaberekwame You paaa π Cooking oil is used by everyone. My cooking oil price fell by 52.5% YoY Nana stop buying things from exotic markets where they charge premium for d same satisfaction you'd get from standard market Or am I doing too much utility maximization theory in my shopping π€"
X Link 2025-11-07T21:56Z [---] followers, [--] engagements
"@asaberekwame ππ be careful next time. But yea. She's right to some extent. If the price drops were across broad Ghana would be recording y/y deflation not inflation. At least utilities are up y/y and they take a lot from the budget. But fuel and transport are also down y/y"
X Link 2025-11-07T22:46Z [---] followers, [--] engagements
"@asaberekwame I know right ππ Sincerely that insensitive behavior of drivers deeply annoys me especially at rush hours. They're going Lapaz from Accra Central but they'll insist on only circle first. Give me the IGP position for one day and I'll lock them all in jail for that"
X Link 2025-11-08T04:44Z [---] followers, [--] engagements
"In June [----] Fitch upgraded Ghana's credit to "B" category. Now S&P has also upgraded Ghana's credit to "B" category. It makes Moody's now appear too pessimistic on Ghana despite having upgraded the country from Caa2 to Caa1 in October [----]. Ghana needs to prove them wrong. Ghana Upgraded To 'B-/B' On Improving Fiscal And S&P Global Ratings https://t.co/7G0WNpYnu0 Ghana Upgraded To 'B-/B' On Improving Fiscal And S&P Global Ratings https://t.co/7G0WNpYnu0"
X Link 2025-11-08T15:51Z [---] followers, [----] engagements
"It's interesting that the government which brought the IMF completely went off track on most of its KPIs. E.g A jaw-dropping primary deficit of 3.9% of GDP instead of a target surplus of 0.5%. Arrears of GHS 68.8bn against a target of zero arrears. A 23.8% inflation vs 18% target You cannot commend government for the economic successes under an IMF programme without commending the government that brought in the IMF Dr. Tiah Mahama. #2026Budget #JoyNews https://t.co/dvJSzZKBre You cannot commend government for the economic successes under an IMF programme without commending the government that"
X Link 2025-11-13T20:39Z [----] followers, [----] engagements
"As a result of ECG's improved collections and compliance with the Cash Waterfall Mechanism the amount required from the Treasury to pay energy sector shortfall has now dropped to GHS 15.2bn for [----] (from GHS 28bn in 2025). The government has put the energy sector in a remarkably great shape. Basically taken us off the fiscal cliff. ECG is doing exceedingly well with average monthly revenue up 90%. Yet the government still has privatization as an objective. It just beats my mind. The government has put the energy sector in a remarkably great shape. Basically taken us off the fiscal cliff. ECG"
X Link 2025-11-13T22:54Z [----] followers, [----] engagements
"@obiMpenaAustine @MaameEsiGold The thing with the CAPEX budget is that it is a discretionary spending (though important for growth) & tied to oil revenue performance. Lower oil price & FX rate (than budget estimate) meant that CAPEX had to take the hit. Not also prudent to borrow via T-bills to fund CAPEX"
X Link 2025-11-13T23:25Z [----] followers, [---] engagements
"Last week GHS 13.4bn worth of BOG bills matured for banks to redeem. But d banks rolled over all that maturity & added extra GHS 3.4bn to make GHS 16.8bn in 56-day BOG bill at 21.5% yield. Same time GOG fell short of T-bill target by GHS 1.7bn. Banks choosing higher safe yield"
X Link 2025-11-17T17:32Z [----] followers, [----] engagements
"@Kyekyequ Surely Let's even assume half of d outst. OMO is liquidity mgt and remainder is investment port. That's GHS 50bn. Now add incoming GHS 30bn arrears payment in [----]. That's another that needs placement option. Now add potential offshore risk-on bids (amid a dovish FED in 2026)"
X Link 2025-11-17T21:05Z [----] followers, [---] engagements
"@Kyekyequ Our elders say "you don't test the depth of the river with both feet" π
I think they'd be cautious with private placements and smaller sizes to test market appetite and build momentum from that. FY26 budget used "strategic" approach. IMF staff report also suggest "caution""
X Link 2025-11-17T21:30Z [---] followers, [--] engagements
"Interesting (1) "Measures implemented in Apr-2024 culd hv brought single digit inflation in 2025" .. But inflation accelerated from 20.4% in Aug-24 to 23.8% in Dec-24. (2) Sterilisation is now defined as "siphoning" When rational banks themselves decided not to take risk"
X Link 2025-11-19T04:36Z [---] followers, [----] engagements
"It is important to note that sterilisation is a measure to neutralize the effect of an earlier action that caused an excessive growth in money supply. After excessive injection of money supply to finance govt deficit a more serious Central Bank is now mopping up for stability"
X Link 2025-11-19T04:46Z [---] followers, [---] engagements
"Real GDP Growth [----] 1Q2024: 4.5% 2Q2024: 5.7% 1H2024: 5.1% (Average) NB: [----] saw loose fiscal spending. Real GDP Growth [----] 1Q2025: 6.3% 2Q2025: 6.3% 1H2025: 6.3% (Average) NB: [----] saw tight squeeze on fiscal spending. Data source: GSS Judge for yourself. Your excessive fiscal cuts hurting growth Gideon Boako to Finance Minister Follow our WhatsApp channel for all the breaking stories: https://t.co/oCmXdY5bVP #JoyNews https://t.co/oLBdvnXdYw Your excessive fiscal cuts hurting growth Gideon Boako to Finance Minister Follow our WhatsApp channel for all the breaking stories:"
X Link 2025-11-19T09:27Z [----] followers, [----] engagements
"@Mike_Amanpene A looser policy (instead of prudent spending) would have put over GHS 12bn of unvalidated claims (out of GHS 68bn inherited arrears) in unproductive hands. This would likely create growth in trades but with associated inflation. And this is called an unaffordable growth"
X Link 2025-11-19T10:25Z [----] followers, [---] engagements
"@Mike_Amanpene For [----] total expenditure is programmed to rise by GHS 50.7bn. Out of that amount over 66% is earmarked for CAPEX. This should support growth in construction transport logistics banking insurance and other ancillary activities around infrastructure. subject to revenue"
X Link 2025-11-19T10:28Z [---] followers, [---] engagements
"@Mike_Amanpene I get you. And I would even prefer 7% growth. However we need to proceed with caution. CAPEX of 25% GDP would mean significant public outlay (even with PPP). This will renew borrowing pressure for non-commercial projects (low ROI). This will threaten debt sustainability again"
X Link 2025-11-19T10:39Z [---] followers, [---] engagements
"@Mike_Amanpene Additionally we need investment in manufacturing and value creation ventures because these ventures create more sustainable jobs than construction which may be casual and transitory even though they form the basis for productivity in other sectors"
X Link 2025-11-19T10:41Z [---] followers, [---] engagements
"RESULTS OF OPEN MARKET OPERATION (OMO) by Bank of Ghana this week. BOG Bills maturity (this week): GHS 19.1bn Amount mopped up by BOG (this week): GHS 16.4bn This means banks redeemed (or took back cash) of GHS 2.7bn this week. Total holding outstanding in BOG Bill: GHS 94.6bn"
X Link 2025-11-20T09:40Z [----] followers, [---] engagements
"@Kyekyequ Hahaha.Question for the gods bro. But I think that it's likely driven by either or both of two things. (1) Rotation into credit portfolio for higher yields (2) Need for higher cash balances to meet customer withdrawals for the week. Otherwise lock-in OMO bill ahead of MPR cut"
X Link 2025-11-20T13:34Z [---] followers, [--] engagements
"In basic macroeconomics we define Govt spending multiplier = 1/(1-b+bt) & Tax multiplier = -b/(1-b+bt). Where b & t are [--]. The results show that govt spending has a higher & contrasting effect on GDP Growth than taxes. But this is only possible with efficient spending"
X Link 2025-11-22T11:29Z [---] followers, [---] engagements
"My Highlights and Quick Take from the Bank of Ghana's ongoing Monetary Policy Committee meeting (November 2025)"
X Link 2025-11-25T12:33Z [----] followers, [----] engagements
"This is what we call "cutting without cutting" as noted by JP Morgan. A smart move by the CBN to appear hawkish while making a cautiously dovish move. Keeping the MPR unchanged at 27% highlights the CBNs continued concern about near-term inflation pressures especially with the uptick in October month-on-month inflation. The move from a symmetric corridor (+250bps/250bps) to an asymmetric corridor (+50bps/450bps) delivers a https://t.co/pkA1wrvbJ6 Keeping the MPR unchanged at 27% highlights the CBNs continued concern about near-term inflation pressures especially with the uptick in October"
X Link 2025-11-26T09:36Z [----] followers, [---] engagements
"@Kyekyequ @TreasuryHubGH @_edemkojo @asaberekwame @Joe_Jackson_GH @mytheoz @MoF_Ghana @NorvanReports Yea. Just as you flagged earlier strategic fine-tuning of money market liquidity to provide a favourable condition for issuances. Thanks for the info on changes to the interest rate corridor. So they opted to implement part of the dovishness thru the interest rates corridor"
X Link 2025-12-01T20:18Z [----] followers, [--] engagements
""It pains me anytime we resort to higher taxes instead of widening compliance and improving collection. We cannot keep piling taxes on an already burdened taxpayer". The Laffer Curve Theory on my mind. Finally a minister that speaks my language and emotion. A while ago I paid a working visit to the Osu Tax Service Centre to engage the dedicated men and women driving our domestic revenue mobilisation. We have done well on expenditure control and the central bank is performing strongly. Now revenue must rise to the challenge. I https://t.co/1ijMT7e5yk A while ago I paid a working visit to the"
X Link 2025-12-08T20:20Z [----] followers, [---] engagements
"@NanaK_Baidoo Salaries to teachers & nurses are counted as fiscal cost ideally financed from revenue (or debt). Central Bank FX doesn't finance fiscal operations. The actual word is "intermediate". How about those FX sold directly to the market by GoldBod It wuld still hv same effect"
X Link 2025-12-11T21:27Z [----] followers, [--] engagements
"@peagama @yabbanx @konkrumah I'm tempted to strongly believe that politicians know exactly what they're doing when they try to confuse the unsuspecting public. What "alternative use" do you put Central Bank FX reserves to What if GoldBod was allowed to sell all $10bn directly to the market instead of BOG"
X Link 2025-12-11T21:37Z [----] followers, [---] engagements
"A lot has been said about d eye-popping rally of d Ghana Stock Exchange in [----] with a YTD gain of 77%. But d domestic bond market has also seen a remarkable surge over d same period. As shown in the IC Govt Bond Index chart below +62% YTD Investors are in the money this yearπ₯"
X Link 2025-12-12T19:57Z [----] followers, [---] engagements
"@mytheoz Thanks for sharing doc. especially the link. There's something funny happening on the IMF website. You search under Ghana and you'd see Article IV consultations for Malaysia. You search under Zambia and you'd see Article IV consultations for Ecuador"
X Link 2025-12-25T12:05Z [----] followers, [---] engagements
"Great job Sir. Strategic debt mgt. Recall that [----] had Eurobond obligation at USD700m while [----] had Eurobond obligation at USD1.4bn (2x 2025) But this strategy effectively means that we've taken the [----] hit in [----] to soften the [----] pressure as though it's [----] payment size GOVERNMENT OF GHANA SETTLES US$709 MILLION EUROBOND OBLIGATION The Ministry of Finance has successfully settled a US$709 million Eurobond obligation on 30th December [----] ahead of its due date marking another significant milestone in Ghanas economic recovery and https://t.co/azsWqzKUSQ GOVERNMENT OF GHANA SETTLES"
X Link 2025-12-31T07:42Z [----] followers, [----] engagements
"It's an annual payment involving coupon + principal each yr (based on the restructured payment schedule). The schedule ends in [----]. But note: (1) [----] - [----] requires $1.0bn per yr. (2) Ghana may return to Eurobond issuance in future with maturities longer than [----] @GameliMartey When does it end and what is left Any idea @GameliMartey When does it end and what is left Any idea"
X Link 2025-12-31T08:15Z [----] followers, [----] engagements
"@NanaK_Baidoo This is the restructured Eurobonds (concluded in Oct-2024). Also Eurobond issuances are typically marked for budget deficit financing & the GHS-equivalent proceeds lodged in the consolidated fund. Since money is fungible it's difficult to do attribution analysis from the fund"
X Link 2025-12-31T09:11Z [----] followers, [---] engagements
"It's truly been a positive year for African FX. Nigeria also returned c.7% in FY25. Most of the advancers were either reformers (Ghana Nigeria Egypt South Africa & Zambia) and/or metal exporters (Ghana South Africa Congo & Zambia). Hope they can avoid reform fatigue in [----] Most African currencies performed well against the dollar in [----] but the CEDI was the star performer at almost 40% y/y appreciation followed by the Congolese franc Zambian Kwacha and SA Rand in that order. https://t.co/XXokrH04Nh Most African currencies performed well against the dollar in [----] but the CEDI was the star"
X Link 2026-01-06T14:39Z [----] followers, [---] engagements
"From the statement as rightly observed by @obiMpenaAustine there would be more left. The $1.47bn = [---] (world Bank drawdown PRG) + $480 (all outs. Gas supply invoice) + [---] (substantial part of IPP debt). There's still remainder on IPP deb. I recall IPP arears was pegd at $1.7bn. Dear Minister @Cassielforson please for the sake of accountability can citizens be apprised on what % this payment represents and how much of the legacy debt is left to be paid Dear Minister @Cassielforson please for the sake of accountability can citizens be apprised on what % this payment represents and how much of"
X Link 2026-01-12T12:41Z [----] followers, [----] engagements
"@_edemkojo Back of the envelope. GHS30000 = [----] units of MTNGH shares at today's price. In [----] MTNGH delivered a 68% price gain (capital appreciation) excl. Dividend yield. If [----] brings just a quarter of that price gain + dividend yield you could have GHS35000 by end-2026. π₯"
X Link 2026-01-12T21:15Z [----] followers, [---] engagements
"@Mike_Amanpene In fairness gold price climb started getting steeper since [----] when Russia's invasion of Ukraine and resultant sanctions triggered aggressive Central Bank buying to reduce the USD concentration of forex reserves. Since then global geopolitical tensions have only intensified"
X Link 2026-01-13T18:54Z [----] followers, [----] engagements
"@Mike_Amanpene But I'd think that the main thing is what the administration did to be able to capture and internalize this price surge. So prices can surge but you'd also need domestic policies to take advantage of the favourable external conditions"
X Link 2026-01-13T18:58Z [----] followers, [---] engagements
"@Mike_Amanpene And I agree with you. Ordinarily the fall in inflation should lead to a mean-reversal in gold price if it were solely used as inflation hedge. But no. In fact both stock market (risk assets) & gold (safe-haven asset) rallying at the same time underscores d geopolitical stress"
X Link 2026-01-13T19:02Z [----] followers, [---] engagements
"@_edemkojo Very very likely so. Banks locking in ahead of rate cut. BOG also likely to mindful of the liquidity conditions especially for FX risk. Although the tighter N.O.P. limits will help to partly contain the FX risk"
X Link 2026-01-23T15:42Z [----] followers, [--] engagements
"@NanaK_Baidoo Lol. It will definitely take a while for macro improvement to restore credit worthiness especially with NPLs still an issue (industry average still around 20%). Additionally new money may be coming thru the system faster than credit demand can absorb"
X Link 2026-01-23T15:45Z [----] followers, [--] engagements
"Just for ceremonial reasons or sound economic basis If I may ask what is the velocity of the GHS [---] note What is the velocity of the GHS [---] note Why would you bring a higher denomination that would have zero velocity. especially amid growing adoption of virtual money https://t.co/Js8CeZ4Vk3 https://t.co/Js8CeZ4Vk3"
X Link 2025-10-29T20:29Z [----] followers, [---] engagements
"This week GHS 8.87bn matured on the 56-day Open Market Operation (OMO) securities issued by BOG at 21.5%. However only GHS 2.93bn was rolled over at the new 14-day tenor & at a lower yield of 14.2%. This means GHS 5.94bn was released into the market to ease GHS liquidity"
X Link 2025-12-04T09:36Z [----] followers, [---] engagements
"@Kevin_Carey_WB True. Very likely the case. The attached security info show the DPB is a Sinkable Bond with final maturity in July [----]. The outs. Bal of $209M suggests that the latest payment of $709M likely include $313.5M principal of the [----] DPB. Final part to be paid in July 2026"
X Link 2025-12-31T19:25Z [----] followers, [---] engagements
"@_edemkojo The [--] Jan maturity had 14.47%. maturity size was GHS 11.61bn And the [--] Jan maturity had 14.48%. maturity size was GHS 11.19bn. Yields typically don't change unless MPR changes. Or BOG auction strategy changes"
X Link 2026-01-23T09:18Z [----] followers, [--] engagements
"Absolutely align with the thoughts here. It is noteworthy that the bids for the 364-day tenor exceeded the shorter-dated tenors for the 2nd consecutive auction supporting the view that investors are trying to lock-in current yields ahead of policy rate cut and yield downshift Government of Ghana Treasury Bill Auction 26JAN2026 In a week where the Bank of Ghana mopped up GHS 42bn through 14-day OMO Bills Ministry of Finance also raised GHS 12.8bn against the GHS 15.9bn in bids tendered. Total maturities amounted to GHS 11bn compared to the https://t.co/eQg2gLHVCK Government of Ghana Treasury"
X Link 2026-01-24T15:57Z [----] followers, [---] engagements
"@Dommychou @CallmeAlfredo Risk management strategy via portfolio diversification from Gold stock into other earning assets while aligning the stock of gold-to-GIR with peer country ratios"
X Link 2026-01-28T17:34Z [----] followers, [--] engagements
"@Dommychou @CallmeAlfredo Can't work the math without extra info. Gold value fell by $895M but GIR rose by $2.4bn. not 1:1 Trade date not known (notice Nov is missing). Asset bought and date of purchase not known. Market value of asset not known. Yield on asset not known. So we need mor info to tell"
X Link 2026-01-28T19:37Z [----] followers, [--] engagements
"I'm really struggling to hold back my laughter π Do I still need a PHD π€ Tell me its not true. You mean the gold reserves the NPP built from 8.74t(from independence) to 30.5t in less than [--] years has being reduced to 18.6t by the NDC in just [----] Interesting times ahead https://t.co/occ6t5K9pV Tell me its not true. You mean the gold reserves the NPP built from 8.74t(from independence) to 30.5t in less than [--] years has being reduced to 18.6t by the NDC in just [----] Interesting times ahead https://t.co/occ6t5K9pV"
X Link 2026-01-29T11:44Z [----] followers, [----] engagements
"@_edemkojo @Mike_Amanpene My understanding of the BOG decision is that it is more of diversification and reduction of concentration risk than profit-taking. Holding nearly 1/3rd of GIR when peers are holding between 1/5th & 1/4th just shows how concentrated & vulnerable we are relative to peers"
X Link 2026-01-29T17:30Z [----] followers, [---] engagements
"It was a pleasure to welcome u to Ghana and to rub minds on the Ghanaian economy @emsovdebt. Thanks for the follow back. And immensely grateful for the complimentary copy of your book. A book I deeply wished for since last year. You granted my wish in a flash Gregory. Thank u"
X Link 2022-05-10T15:16Z [----] followers, [--] engagements
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