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    Ghana’s total exports decline by 9%

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    Financial sector withstood 2022 shocks; positive signs ahead – BoG

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    Ghana’s total exports decline by 9%

    Cedi depreciates against the dollar by 22.5%

    Financial sector withstood 2022 shocks; positive signs ahead – BoG

    Water shortage to hit parts of Accra; businesses to be affected

    Excise tax amendment shows positive signs; rakes in GHS 140m 

    Ghana records over $200m trade surplus in two months

    Public debt hits GHS 575.5 billion; now 71.9% of GDP

    GEPA poised to achieve over $4bn target for non-traditional exports

    GRA fights off claims of harassing traders; calls for cooperation

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    Cedi depreciates against the dollar by 22.5%

    Financial sector withstood 2022 shocks; positive signs ahead – BoG

    Water shortage to hit parts of Accra; businesses to be affected

    Influx of Chinese tanker trucks will kill local businesses – Kwame Jantuah

    GRA fights off claims of harassing traders; calls for cooperation

    Hanno Barkhoff joins Kempinski Hotel Gold Coast City Accra as General Manager

    WTO Director-General calls for ratification of Fisheries Subsidies Agreement

    B5 Plus is an iconic testament of success of 1D1F initiative – K.T. Hammond

    BoG advised me to streamline Menzgold operations – NAM 1

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    Genius IT Foundation achieves STEM.org accreditation

    Pharmaceutical Society charged to utilize AI to transform industry

    Apple says iPhone and iPad apps will show up on the vision OS App Store from the get-go

    China launches $41 billion fund to accelerate semiconductor industry

    Digital marketing: Event managers urged to explore growth opportunities

    Govt. urged to commit more investments to enhance AI competencies

    Stakeholders in digital ecosystem charged to do more to protect child privacy

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    Ban on cryptocurrency still in force – Finance Ministry warns

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    Ofori-Atta commends G20 for AU’s inclusion, urges common voice

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    African Union to launch regional credit rating agency in 2024

    New study reveals alarming food access disparity affecting 650 million Africans

    Global food price index declines in August

    ECO currency challenges: Technical committee attributes delays to external shocks, others

    African leaders emphasize in-continent processing of mineral wealth at climate summit

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    African Development Bank announces $25 billion pledge to boost climate finance in Africa

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Gov’t begins 3-day cabinet retreat to assess economic impact of COVID-19

byNerteley Nettey
May 7, 2020
in Local Economy, Top Stories
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The President, Nana Addo Dankwa Akufo-Addo and his cabinet will later on Thursday, May 7, 2020, begin a 3-day retreat to review data gathered on the effects of COVID-19 on all sectors of the Ghanaian economy.

The Minister for Information, Kojo Oppong Nkrumah, who made this known said the government now has more concrete data on the impact of COVID-19 on the various sectors including education and health.

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“President Akufo-Addo and his cabinet over the next three days will commence a process of examining data so far gathered on the impact of COVID-19 across all sectors in Ghana,” he said at a press conference on Thursday, May 7, 2020.

Kojo Oppong Nkrumah said all Ministers have been directed to present reports about the impact of COVID-19 on their respective sectors and make recommendations on how the sectors can recover.

He said the information from the retreat will help to put together the 2020 mid-year budget review.

“The President has instructed all ministers to present reports on their sectors and proffer recommendations for recovery at a cabinet retreat starting today [Thursday] and will go on for the next three days…The Government of Ghana will examine the observed impact, the recommendations that are being made, the implications and will enhance preparations for laying same before Parliament during the mid-year review,” he said.

Government revenue projection has been badly hit already, with the COVID-19 impact expected to cost Ghana some GHS9.5 billion according to the Finance Minister.

Government has already offered some temporary relief to Ghanaians in the delivery of water and electricity services, as well as some tax incentives to frontline health workers and other groups.

It has received approval from Parliament to spend some GHS1.2 billion cedis from the Contingency Fund to support Ghanaians and revive the economy, alongside a $1 billion credit facility from the International Monetary Fund to fight the pandemic and revive the economy.

It has also allocated a loan amount of GHS600 million to support struggling Small and Medium Scale enterprises.

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