A Professor at the Institute of Statistical Social and Economic Research (ISSER), Professor Peter Quartey, has observed that migration could reduce poverty if the right policies and programmes were put in place.
According to him, migration (internal and international) brings enormous inflows – remittances, improved education, health, investment for migrant, migrant businesses, housing etc., adding that they can’t stop people from leaving Ghana, but policies can be put in place to either stop these people from travelling, or compelling them to stay.
Prof Quartey made the observation at the launch of a book entitled ‘The Oxford Companion to the Economics of Africa’ in Accra.
He said more people migrate within Africa than from Africa to Europe and North America. He said, for instance, the number of head porters, popularly known in Ghana as kayayei, leave the Northern Region to the capital city, Accra, in search of greener pastures, could be compelled through policy to stay in that region.
He pointed out that “international migration also brings costs such as loss of skilled labour, cultural and security concerns, etc. Managing migration will reduce the cost and enhance the benefits, and therefore, lead to significant poverty reduction.”
The Vice Chancellor of the University of Ghana and Editor of the book, Professor Ernest Aryeetey, pointed out the book was intended to give Africans and non-Africans living in and out of Africa the opportunity to see what has occurred in the African economy over the last twenty years.
He said: “Reading this book will give people living out of Côte d’Ivoire a fair idea about why the structure of the Côte d’Ivoire economy is the way it is.”
Prof Aryeetey emphasised that the book was not based on a particular research, but from different researches done by different people brought together by the various authors.
The book, he said, is aimed at providing key points for policy makers, what leaders should look out for, and what needs to be done.
“The book does not provide every answer, but it talks about what has happened in a country, and what can happen,” VC added.
Touching on gender inequality, Ms. Abena Oduro of the Department of Economics, University of Ghana blamed Africa’s low growth rate on gender inequality in education.
She said in Ghana, the number of girls in Senior High Schools, not just by region but by districts, was still low compared with that of boys.
The book is intended to provide economic information to academics and students in development economics, policy makers, analysts, the donor community, NGOs, international agencies, research institutes, and think tanks.

Interest Rates & Inflation
The Monetary Policy Committee has decided to increase the Monetary Policy Rate by 100 basis points to 14.5 per cent.
Current Monetary Policy Rate (MPR):         14.5%
Inflation (CPI) for March 2012:         8.80%
Inflation Target for 2012:         8.5%
91-day T/Bill Rate for April 2012:         14.8184%

Foreign Currency Rates

Currency    Buying    Selling
U.S Dollar    1.7827    1.8134
Pound Sterling    2.8847    2.9346
Swiss Franc    1.9527    1.9860
Australian Dollar    1.8358    1.8681
Canadian Dollar    1.8100    1.8408
Danish Kroner    0.3154    0.3208
Japanese Yen    0.0222    0.0226
New Zealand Dollar    1.4352    1.4605
Norwegian Kroner    0.3108    0.3161
Swedish Kroner    0.2646    0.2691
S/African Rand    0.2310    0.2349
Euro    2.3457    2.3858
BCEAO    274.94    279.64
Dalasi    20.23    20.57
Ouguiya    190.21    193.49
Naira    113.36    115.31
Leone    2,896.29    2,946.13
WAUA    0.3946

Treasury Bill Rates
As of Monday 23 April 2012 to Friday 27 April 2012

Period    Discount Rates    Interest Rates
91 – Day    13.98%    14.49%
182 – Day    13.11%    14.03%
1 – Yr Note    -%    14.50%
2 – Yr Fixed Rate Note    -%    14.80%

+ MARKET HIGHLIGHTS

This week in Focus
Shares    Bonds
Date    Volume    GSE Composite Index(GSE-CI)    Market Capitalization GH¢ million    Value of Coporate Bonds Traded US$    Value of Government Bonds Traded GH¢ million
Monday    30-Apr-12    206,126    1,056.10    51,628.65    0    0
Tuesday
Wednesday    02-May-12    90,141    1,055.23    51,624.24    0    0
Thursday
Friday

Note: The base date for the GSE-CI is December 31, 2010 and the base index value is 1000

Listed Companies
Session    Equities    Issued Shares (mil.)    Market Capt. GH(¢) million    NRF Investors’ Holdings %    EPS and PE ratios are based on results for the period    Div. per share for last fin. year GH(¢)    Div. yield %    EPS GH(¢)    P/E Ratio
3737    AADs
0.98    50.90    11.79    FLYR – 30/12/2011    0.0045    2.65
3737    ACI
36.50    2.92    N/A    FLYR – 30/12/2011    0.0000    0.00    -0.0174    n.m.
3737    AGA
381.34    12,965.43    N/A    FLYR – 30/12/2011    0.4510    1.33    7.0923    5
3737    ALW
92.05    5.52        FLYR – 30/12/2011p    0.0000    0.00    -0.0378    n.m.
3737    AYRTN
215.00    36.55    1.73    HLYR – 31/03/2012p    0.0013    0.74    0.0148    12
3737    BOPP
34.80    58.46    65.33    3 MTHS- 30/03/2012p    0.0690    4.11    0.3155    5
3737    CAL
248.26    59.58    88.91    3 MTHS- 30/03/2012p    0.0000    0.00    0.1323    2
3737    CLYD
34.00    1.36        3 MTHS- 30/03/2012p    0.0000    0.00    0.0053    8
3737    CMLT
6.54    0.79    0.23    3 MTHS- 30/03/2012p    0.0000    0.00    4.1755    0.03
3737    CPC
2,038.07    20.38    87.65    3 MTHS- 31/12/2011    0.0000    0.00    -0.0105    n.m.
3737    EBG
230.13    699.59    16.64    3 MTHS- 30/03/2012p    0.2400    7.89    0.4039    8
3737    EGL
127.83    43.46    N/A    FLYR – 30/12/2011p    0.0160    4.71    0.0842    4
3737    ETI
12,436.76    1,741.15    69.77    3 MTHS- 30/03/2012p    0.0027    1.93    0.0136    10
3737    FML
118.71    261.16    0.06    3 MTHS- 30/03/2012p    0.0400    1.82    0.2201    10
3737    GCB
265.00    503.50    77.44    9 MTHS- 30/09/2011p    0.0700    3.68    0.1926    10
3737    GGBL
211.34    369.84        9 MTHS- 31/03/2012p    0.0000    0.00    0.1060    17
3737    GOIL
210.19    79.87        FLYR – 30/12/2011    0.0140    3.68    0.0415    9
3737    GSR
255.43    702.42        FLYR – 30/12/2011p    0.0000    0.00    -0.0256    n.m.
3737    GWEB
35.00    1.40    19.30    3 MTHS- 30/03/2012p    0.0000    0.00    0.0099    n.m.
3737    HFC
183.66    82.65    7.50    3 MTHS- 30/03/2012p    0.0220    4.89    0.0593    8
3737    MLC
50.10    5.01    0.16    3 MTHS- 30/03/2012p    0.0060    6.00    0.0634    2
3737    PBC
480.00    115.20    90.24    HLYR – 31/03/2012p    0.0088    3.67    0.0489    5
3737    PKL
33.34    2.00    N/A    9 MTHS- 30/09/2011p    0.0000    0.00    -0.0042    n.m.
3737    PZC
168.00    39.76    72.47    9 MTHS- 29/02/2012p    0.0226    1.59    0.0163    15
3737    SCB
19.25    987.59        3 MTHS- 30/03/2012p    3.0500    5.95    3.9312    13
3737    SCB PREF
17.48    9.09            0.0324
3737    SG-SSB
333.89    136.90    52.50    FLYR – 30/12/2011    0.0400    9.76    0.0700    6
3737    SIC
195.65    74.35        3 MTHS- 30/03/2012p    0.0000    0.00    0.1759    2
3737    SPL
74.08    2.96    24.24    3 MTHS- 30/03/2012p    0.0000    0.00    0.0069    6
3737    SWL
21.83    0.44    0.00    3 MTHS- 30/03/2012p    0.0000    0.00    -0.0227    n.m.
3737    TBL
200.00    80.00    N/A    3 MTHS- 31/12/2012p    0.0171    4.29    0.0084    48
3737    TLW
903.85    31,499.07        FLYR – 30/12/2011    0.0000    0.00    0.7250    48
3737    TOTAL
13.98    365.55    62.03    3 MTHS- 30/03/2012p    0.0000    0.00    2.3727    11
3737    TRANSOL
80.00    4.00        9 MTHS- 30/09/2011p    0.0000    0.00    -0.0173    n.m.
3737    UNIL
62.50    518.75    72.29    3 MTHS- 31/12/2012p    0.4800    5.78    0.6581    13
3737    UTB
302.04    96.65        FLYR – 30/12/2011    0.0100    0.12    0.0433    7

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