Author: Bobbie Osei
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Time to take strategic steps to grow Ghana’s economy is now – Pierre Laporte
The Country Director of the World Bank, Pierre Laporte has charged government to take advantage of the current global economic crisis to take strategic steps to help grow Ghana’s tourism sector and the general economy in the medium to long term. Tourism is an important driver of economic growth in Ghana. According to data from…
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E-Levy won’t be terminated because of IMF bailout – Gov’t assures
As government commences its in-person meetings with the delegation from the International Monetary Fund (IMF) team, led by Mission Chief for Ghana, Carlo Sdralevich, starting, Wednesday July 6, 2022, it is assuring that the controversial Electronic Transfer Levy (E-Levy) will not be terminated. According to the IMF, it stands ready to assist Ghana to restore…
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IMF likely to reject program with wholesale gov’t subsidies – Prof. Quartey
Ahead of the commencement of in-person meetings between the Government of Ghana and the delegation from the International Monetary Fund on Wednesday 6th July 2022, the Director of the Institute for Statistical, Social and Economic Research (ISSER) at the University of Ghana, Professor Peter Quartey believes the Fund will reject any program that will see…
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Free SHS and other programs must be redesigned now – Seth Terkper
As the government prepares to commence talks with the International Monetary Fund (IMF) for a bailout program, former Finance Minister Seth Terkper has charged government to candidly assess the sustainability of programs like the Free Senior High School Policy. According to him, some of the flagship programs are a drain on governments’ resources. The announcement…
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Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister
The Minister of Food and Agriculture Dr. Owusu Afriyie Akoto, has reiterated government’s plan to introduce legislation that will compel banks to lend more to the Agriculture sector. He made the remark at the launch of the Agriculture Stakeholder Convening and Advocacy Platform (ASCAP) by GIRSAL in Accra. The platform will seek to engage government…
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Financial transactions will be allowed even without Ghana card from 1st July – GAB assures
The Ghana Association of Banks has assured that despite the end of the period given for customers of financial institutions to update their data with the Ghana Card, they will be able to still carry out banking transactions even without the card. The directive regarding the update of the data of customers of financial institutions…
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Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report
The value of losses recorded as a result of fraud in Banks and Specialized Deposit-Taking Institutions in Ghana in 2021, witnessed a significant jump, rising to GH¢61 million as compared to a loss of GH¢25 million in 2020, representing a 144 % increase in year-on-year terms. This was captured in the 2021 Banking, Specialised Deposit-Taking…
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Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst
As stakeholders express concern about the low level of revenue being generated from the Electronic Transfer Levy (E-Levy), a tax analyst is warning that government is likely to withdraw the tax measure if the revenue yields remain low. The implementation of the E-levy, which commenced in May, was originally expected to help bring in about…
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E-Levy is an overhyped revenue generation measure – Seth Terkper
Former Finance Minister, Seth Terkper has described the Electronic Transfer Levy (E-levy), as an overhyped revenue generation policy. According to him, many Ghanaians are now trying to find ways to avoid paying the levy. The E-levy, which was amended from 1.75 % to 1.5 % on Tuesday, March 29, 2022, is a tax that applies…
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BoG must enforce regulations on informal forex trading – Prof. Quartey
Economics Professor and the Director of the Institute of Statistical, Social and Economic Research, Prof. Peter Quartey has bemoaned the seeming lack of action against persons engaged in the illegal trade of foreign exchange, especially the US Dollar, in different parts of the country. According to him, the informal foreign exchange market is contributing to…