Author: Bobbie Osei
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Ignore conflict of interest claims against Ofori-Atta, Adu Boahen – Finance Ministry
The Ministry of Finance has described as inaccurate and misleading, information circulating in the media, which accuses the Minister of Finance, Ken Ofori-Atta and Minister of State at the Finance Ministry, Charles Adu Boahen of being caught in a conflict of interest situation. The two are accused of having two non-bank financial institutions associated with…
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Sub-20% interest rates needed for businesses to be competitive – GUTA
President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng says until interest rates on loans drop below the 20 percent mark, the recent reduction in the monetary policy rate will not make much difference. The Monetary Policy Committee (MPC) of the Bank of Ghana, for the first time since March 2020, reduced…
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GUTA accuses banks of maintaining high interest rates despite drops in policy rate
The President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng is accusing banks in the country of running a cartel arrangement that keeps interest rates high despite reductions in the monetary policy rate. According to him, the lack of responsiveness of banks, when it comes to reacting to changes in the policy…
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Interest rates to drop in ‘two to three months’ following policy rate reduction – Consultant
Interest rates on loans for businesses and individuals should begin dropping in response to the lowering of the monetary policy rate by 100 basis points to 13.5% in May, 2021. The Monetary Policy Committee (MPC) of the Bank of Ghana, for the first time since March 2020, reduced the policy rate to 13.5% after it…
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BoG cuts policy rate to 13.5%, first time since March 2020
In its quest to foster economic growth and ensure financial stability in response to developments on the local and external front, the Monetary Policy Committee, MPC, of the Bank of Ghana, BoG, at the 100th Monetary Policy Committee Meeting, has for the first time since March 2020 reduced the policy rate to 13.5 percent. This…
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Ghana’s debt crosses GHS300 billion mark as debt-to-GDP ratio drops to 70.2%
Ghana’s total public debt stock has increased once again according to new data released by the Bank of Ghana. The debt stock which ended 2020 at GHS291.6 billion, saw about GHS13 billion being added in the first quarter of 2021. This represents an increase of about 4 percent, and brings Ghana’s total public debt as…
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No new tariffs until our Board is constituted – PURC PRO
The Public Utilities Regulatory Commission (PURC), says until a new Board is constituted for the Commission, any announcement of a tariff adjustment will have to wait. Various players in the power and water supply value chains have been advocating for an upward review in tariffs to cater for their rising operational costs. This has resulted…
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We’ll ensure VW’s investment in Ghana yields results – Akufo-Addo
The President, Nana Akufo-Addo has assured Volkswagen (VW) Ghana of its commitment to the success of the company, along with other automobile companies in the country. The remarks were made when the new Chairman and Managing Director of the Volkswagen Group for Sub-Saharan Africa, Dr. Robert Cisek, paid a courtesy call on the President at…
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Economists back calls by IMF for gov’t to prioritize progressive revenue mobilizations
Some economists have backed calls by the International Monetary Fund (IMF) for government to prioritize progressive revenue generation. According to them this will ensure that the rich in our society are made to pay taxes and levies which are commensurate with the value of their assets as well as their income. The International Monetary Fund…
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Enforce anti-money laundering laws to keep Ghana off EU blacklist – E-Crime Bureau
Cybersecurity firm, e-Crime Bureau, has called for strict enforcement of all anti-money laundering regulations, to ensure Ghana is not included in future greylists over money laundering and terrorism financing. Ghana was cited back in May 2020, in addition to a number of other countries, by the European Commission over money laundering and terrorism financing concerns.…