Finance Students & Associates-FINSA (UGBS)♨
               🇬🇭11th April, 2019
                ⏰6:00pm

BUSINESS SPACE📈
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📡 Inflation increases to 9.3% for second consecutive time

The Consumer Price Inflation (CPI) for March 2019 has increased to 9.3%. The rise represents a 0.1% increase relative to the 9.2% recorded in February 2019 which also increased from 9.0% in January 2019. Government Statistician, David Kombat outlined the reasons for the rise stating that the main price drivers caused the increase. He stated that going forward, his administration will prioritize transparency in order to enhance the work the Ghana Statistical Service.

📡 Ghana's Debt-to-GDP ratio to hit 62% by end of 2019 - IMF

According to the latest International Monetary Fund (IMF) fiscal Monitor Report released in Washington DC at the on-going-spring meetings, Ghana's total debt stock expressed as a percentage of its Gross Domestic Product would reach 62% by the end of this year. The projection should mean that in one year, Ghana's Debt-to-GDP ratio would increase by 4%. This could be one of the slowest growth in the ratio in a year in recent times. This could mean that the government might not be taking on too much debt in 2019 or the economy could be expanding more to absorb the nominal increase in the debt numbers.

📡 Drop in benchmark values: Smugglers to face prosecution - GRA

The Ghana Revenue Authority (GRA) has stressed that it will not spare any importer who smuggles goods into the country in a bid to avoid paying the required taxes on their products. The caution follows the implementation of revised benchmark values on imports. The government believes this should help reduce smuggling of goods into Ghana.

📡 IMF cuts Sub-Saharan Africa's 2019 growth forecast to 3.5%

The International Monetary Fund (IMF) cut its 2019 economic growth projection for sub-saharan Africa this year to 3.5%, from 3.8% last October, hot on heels of a downgrade by the World Bank earlier in the week. The IMF's regional growth projection was more optimistic than that of the World Bank, which on Monday said economic recovery in Sub-Saharan Africa would take longer than previously thought and cut its 2019 forecast to 2.8% to 3.3%.

|Policy Rate in Ghana - 16.0%|

|Inflation Rate in Ghana - 9.30%|

|Treasury bills rates|
Period        Discount Rates       Interest Rates
91 - Day           14.1887%                  14.7105%
182 - Day         14.0566%                  15.1192%

Foreign News💤
⚖ Nissan pledges $215m to South Africa for Navara model

Nissan Motor Co. plans to invest a further 3bn Rand ($215m) in its South African plant, the first major automaker to commit further to the country since the government renewed an industry manufacturing incentive plan last year. The decision to produce new Navara pickup at its plant north of Pretoria may add 30,000 units to it's current annual volume of 35,000.  Production of the model from 2020 will also create about 400 direct jobs in the country which has an unemployment rate of 27%.

⚖ U.S. jobless claims unexpectedly fall, hitting new 49-year low

Filings for U.S. unemployment benefits unexpectedly dropped, falling to the lowest level since October 1969, as the tight labor market showed little sign of easing. Jobless claims decreased to 196,000 in the week ended April 6, Labor Department figures showed on Thursday. The level fell below all estimates in Bloomberg's survey of economists, which had called for an increase. The four-week average, a less-volatile measure, declined to 207,000, the lowest since December 1969.

⚖ Disruptors are 'clearly shaking the system,' IMFs Lagarde says

According to Christine Lagarde, the head of the IMF, financial technologies such as digital currencies are "shaking" the banking system and must be monitored to maintain stability. He pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents. He warned that such financial industry changed must be accompanied by regulation.

|Daily Interbank FX Rates|
Currency         Pairs Code   Buying   Selling
U.S Dollar            USDGHS       5.0827    5.0877
Pound Sterling   GBPGHS       6.6533    6.6618
Swiss Franc         CHFGHS       5.0691    5.0753
Canadian Dollar CADGHS       3.8158    3.8196
Euro                      EURGHS       5.7247    5.7291
Chinese Reminbi CNYGHS      0.7562    0.7571

🌀|Sources|
www.citibusinessnews.com
www.bog.gov.gh
www.myjoyonline.com
www.bloomberg.com
www.cnbc.com
www.wikipedia.com
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Term of the day📚
🤔 Cryptocurrency
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems.

🤔 How is the value of a cryptocurrency determined?

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📍Compiled & edited by:   
Philip Elike Gagah
Agnes Boatemaa Appiadu