In business this week, the government's treasury bills saw an oversubscription of GH¢116.02 million away from the set target of GH¢1.76 billion in its latest auction on April 6, 2023.

The reduction in interest rates has lowered the government's cost of paying maturities but returns for investors still remain negative as inflation rates are still very high - over 50%.

Also, the Finance Minister, Ken Ofori-Atta, the Governor of the Bank of Ghana, Dr. Ernest Addison, and other members of the economic management team are currently in Washington, D.C., to deliberate on Ghana’s pending request at the International Monetary Fund.

The meeting is crucial to determining Ghana’s next step with the Fund.

The Ghana Statistical Service (GSS) has said the inflation rate for March 2023 declined to 45.0 percent.

This comes after the rate for February was recorded at 52.8 percent. This current decline however represents a 7.8 percentage points drop.

However, prices of crude oil on the international markets is expected to fall by 24.1 percent to sell at an average of $73.1 per barrel in 2023, this is according to the IMF’s April 2023 World Economic Outlook Report.

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