Deficit

The Rise and Fall of Ghana’s Gold for Oil Initiative In recent developments, the Bank of Ghana (BoG) reported staggering financial losses, amounting to GH¢317 million in 2023 and escalating to GH¢1.82 billion in 2024. These figures are a sobering reminder of the challenges faced by regulatory institutions in navigating economic turbulence. Have you ever wondered how decisions like these ripple through a nation's economy? The central bank committed roughly GH¢4.69 billion to the Gold for Oil (G4O) initiative. In…

Mogadishu (AX) — The recent decision by the United States to abstain from a pivotal UN Security Council resolution has raised significant concerns regarding the future of the African Union’s Security Operations in Somalia (AUSSOM). As we approach a crucial vote in May concerning the mission’s funding, a sense of uncertainty permeates discussions surrounding the support, effectiveness, and overall strategy of AUSSOM in its mission to stabilize Somalia. At the heart of the U.S. abstention are serious reservations about the…