Author: citibusinessnews
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Moody’s downgrades Ghana’s rating from Caa1 to Caa2
Rating agency, Moody’s has downgraded Ghana’s long-term issuer and senior unsecured debt ratings from Caa1 to Caa2 and placed the ratings on review for downgrade. Moody’s, in February this year, downgraded Ghana from B3 to Caa1. The agency contends that the further downgrade stems from the government’s decision to seek support from the International Monetary…
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EU not banning Ghana’s cocoa – EU Ambassador to Ghana
The European Union has dismissed claims of a ban of Ghana’s cocoa on the international markets. The Information Minister, Kojo Oppong Nkrumah, is said to have warned that Ghana could soon be unable to export cocoa and coffee to Europe due to new legislation. The law mandates European countries to formulate regulations that ensure that…
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Government may not be able to conclude IMF deal this year – Economist
Dr. Theophilus Acheampong, an economist, doubts government will be able to conclude the deal with the International Monetary Fund before the year ends. “We have done our own Debt Sustainability Analysis as part of the budget cycle. When the IMF comes to town, they also do theirs, and then both sides sit to agree on…
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GIZ holds National e-Commerce Forum & Exhibition
As part of efforts toward boosting Ghana’s e-commerce ecosystem, GIZ has held the National E-Commerce Forum and Exhibition which is a platform to celebrate the accomplishments of Ghana’s e-commerce ecosystem and build momentum toward a shared vision for its future development. The goal was to mobilize diverse e-commerce stakeholders towards more collaborative and inclusive development.…
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Orange Corners Ghana Celebrates The Graduation Of 45 Entrepreneurs
The Kingdom of the Netherlands teams up with Ghanaian Corporate Partners to provide business development support and access to finance to over 120 Ghanaian youth-led ventures through the Orange Corners Ghana Initiative. On Wednesday 28 September, Orange Corners Ghana celebrated the graduation of the 45 youth-led businesses that participated in the six-month acceleration programme. Orange…
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Finance Ministry, BoG begin debt sustainability analysis with IMF
The Ministry of Finance has confirmed that its officials and that of the Bank of Ghana have commenced a comprehensive debt sustainability analysis with the International Monetary Fund (IMF) for a US$3 billion support programme. A statement from the Ministry said “the Government of Ghana is putting together a comprehensive post-Covid-19 economic programme which will…
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BoG postpones routine MPC meeting over IMF team visit
The Bank of Ghana’s (BoG) Monetary Policy Committee (MPC) will not be holding its routine quarterly meeting today, Monday, September 26, 2022, as scheduled. A statement from the Central Bank last Thursday said the rescheduled meeting will now coincide with Government’s next round of engagements with the International Monetary Fund (IMF). The Fund is scheduled…
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IMF mission to visit Ghana from September 26 to October 7
An International Monetary Fund (IMF) staff team will be in Ghana from September 26 to October 7 to continue discussions with the government on policies and reforms that could be supported by a lending arrangement. IMF staff will also further engage with other stakeholders during the visit. The IMF team will be led by Stéphane…
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GCB wins big at 2022 Citi Business Olympics; sweeps 12 trophies
GCB bank won 12 trophies at the just-ended 2022 Citi Business Olympics. GCB came in first in the sack race for women, table tennis for men and women, tug of war for men and volleyball for women. The bank won silver in the lime and spoon, volleyball for men, arm wrestling for men and tennis…