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Cutting 2018 Eurobond will affect gov’t projects

dollar proper

Major government economic policies are set to suffer a setback if demands by the International Monetary Fund(IMF) for Ghana to cut its projected 2 billion dollars Eurobond to 500 million dollars is made to stand— that is a warning from economist, Dr. Lord Mensah. Reuters News agency this weekend reported that a document it has sighted is pressing on government ...

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IMF urges gov’t to pass new taxes  

Ken Ofori-Atta - Finance Minister

Ghana must legislate new measures to boost revenues by at least 0.5 percent of gross domestic product before the IMF reviews a $918 million credit deal next month, a Reuters report has said. The report also stated that government must outline plans to clean up the financial sector and show stronger commitment to cut debt, including limiting its next Eurobond ...

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IMF to pass Ghana based on govt’s commitment

Economist Dr. Lord Mensah

Economist, Dr. Lord Mensah is optimistic an International Monetary Fund (IMF) mission currently in Ghana may pass the government in its assessment based on the country’s commitment at meeting benchmark targets. An IMF mission on Thursday[March 1,2018] met with Parliament’s Finance Committee to discuss Ghana’s performance ahead of a board assessment in April to pave way for Ghana to receive ...

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Groupe Nduom to start crypto currency transactions

nduoum pix

The Chief Executive Officer of Groupe Nduom, Papa Kwesi Nduom has indicated that the company may soon venture into crypto currency transactions. The announcement follows an earlier demand from Deputy Vice president of Groupe Nduom, Papa-Wassa Chiefy Nduom urging the Bank of Ghana(BoG) to diversify its investment by investing one percent of Ghana’s reserve in bit coin transactions. The BoG ...

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IMF assesses Ghana ahead of $236m disbursement


The International Monetary Fund (IMF) is expected to disburse at least two hundred and thirty-six million dollars ($236,000,000) of the Fund’s extended credit support to Ghana. The cash is expected to hit the government of Ghana’s accounts within the next few months. This is however subject to Ghana’s ability to meet key targets set under the agreement with the Fund. ...

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Stanchart Bank launches ‘Wealth Lending’ to give investors options

Executive Director, in Charge of Wealth Management at  Standard Chartered(Stanchart) Bank Ghana, Setor Quashiga.

The continues drop in treasury bill rate may soon compel investors to look at other instruments with high yields such as bonds, that is the verdict from Executive Director, in Charge of Wealth Management at  Standard Chartered(Stanchart) Bank Ghana, Setor Quashiga. Treasury bill rates have dropped by about 50 percent since 2017. Meanwhile, she explains that demand for bonds such ...

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Barclays Africa to rebrand to Absa Group

Maria Ramos - CEO, Barclays Africa Group

Barclays Africa Group is to rebrand to Absa Group by 2020, subject to regulatory approval in all ten countries that it operates in. This follows the successful sale of Barclays PLC’s stake in the bank’s Africa’s operations. Barclays PLC has since December 2017, reduced its stake in the Africa Operations from 62 to 15 percent. Addressing a telephone conference on ...

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Robbery attacks: GhIPSS urges cashless transactions

Archie Hesse - CEO of GhIPSS

The Ghana Interbank Payment and Settlement Systems (GhIPSS), is urging the public to resort to more electronic forms of payment in order to reduce their exposure to armed robbery and related risks. The advice follows reports of two separate armed robbery attacks in two successive days and other instances, in which huge sums of cash were believed to have been ...

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Producer Price Inflation drops to 7.7%               


The Producer Price Inflation (PPI) has dropped to 7.7 percent for January 2018. This represents a 1.2 percent reduction compared to the 8.9 percent recorded in December 2017. The Producer price inflation measures the average change over time in prices received by domestic producers for their goods and services. Speaking at a press conference in Accra, Acting Government Statistician, Baah ...

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No dollar shortage due to attacks – Forex Bureaus


The Ghana Association of Forex Bureaus has allayed fears of an imminent shortage of dollars following increased robbery attacks on its members. Though the association admits to the impact on some of its members, it believes the issue should be addressed soon to prevent loss of cash to the attackers. For the first two months of this year (2018) alone, ...

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