After the 2008 financial crisis, global regulators required banks to increase their prudential buffers of high-quality capital and liquidity. That significantly strengthened the resilience of the financial system. Many observers now cite those buffers as a bulwark against the adverse effects of the Covid-19 pandemic. But as we brace ourselves for a deep recession in 2020, and only partial recovery ...

Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has asked world economies to prepare for  deep rescission this year following the impact of the COVID-19 on the economy. In an article, she suggested that having in place strong capital and liquidity positions to support fresh credit will be essential part of the economic recovery process. “After the ...

Today in history, exactly 57 years ago, on 25 May, 1963, the first African organisation after independence, the Organisation of African Unity (OAU) was formed in Addis Ababa, Ethiopia in which President Kwame Nkrumah of Ghana played a prominent role. Kwame Nkrumah‘s speech at the founding of the OAU has since become a classic, even iconic. In front of 31 other African ...

Today in history, exactly 57 years ago, on 25 May, 1963, the first African organisation after independence, the Organisation of African Unity (OAU) was formed in Addis Ababa, Ethiopia in which President Kwame Nkrumah of Ghana and Emperor Haile Selassie of Ethiopia played prominent roles. On 25 May, 1963, Ethiopian Emperor Haile Selassie invited the heads of the 32 independent African nations ...

Dr Vladimir Antwi-Danso, the Dean of Academic Affairs, Ghana Armed Forces Command and Staff College, has urged the Africa Union (AU) to prioritise the engagement and integration of ordinary citizens to successfully drive the socio-economic advancement of the continent. “Look, one of the biggest problems of the integration of Africa is the neglect of the socio-economic partners of development, who ...

Teachers in South Africa want the planned reopening of schools on 1 June halted, Independent Online news website reports. Educators Union of SA (Eusa) general secretary Siphiwe Mpungose is quoted as saying that they will file a court application on Monday against the Department of Basic Education (DBE). The DBE had announced that Grade 7 and Grade 12 will reopen ...

Country Director for SEND Ghana, George Osei-Akoto Bimpeh, has called on political parties in Ghana to include the citizenry in the drafting of their manifestos to ensure that there is social equality in the implementation of policies. According to him, SEND Ghana has discovered that most of the time, manifestos drafted by political parties focus on what the parties want ...

Ghana has called for a collective and coordinated global response to assist vulnerable countries to address the “unprecedented effects” of Covid-19. Such a response, Ghana Foreign Affairs and Regional Integration Ministry reiterated, is needed to mitigate the harsh economic and financial effects of the pandemic. “With the benefit of immediate debt relief, developing countries could focus on protecting vulnerable populations, ...

The authorities in Burundi say the ruling party’s candidate has been elected as the new president. The electoral commission said Evariste Ndayishimiye won almost 70% of the vote in last week’s poll. The retired general will take over from President Pierre Nkurunziza, who has led Burundi since 2005. The former leader is widely expected to maintain a lot of influence. ...

Hong Kong needs a controversial new security law to tackle “growing terrorism”, the territory’s security chief has said. John Lee said the city had become “shrouded in the shadow of violence”. After months of quiet, this weekend saw a fresh surge of protest after the government in Beijing proposed a security law that would radically change Hong Kong’s unique status. ...