Author: Nerteley Nettey
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Ghana’s rising debt due to discontinuation of our prudent measures – Terkper
A Former Finance Minister, Seth Terkper, has blamed Ghana’s increasing debt on the discontinuation of measures put in place by the erstwhile government. According to him, that situation put the country in a very dire position. Within the 1st quarter of 2020, Ghana increased its debt by 16.9 billion cedis, putting the debt at 236.1…
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North East Region: Philanthropist supports farmers with grains to sustain them in lean season
It is that time of the year for farmers, the lean season; which is the period of planting and harvesting in parts of the country. That has ushered some vulnerable households into hunger and starvation in parts of the North East Region where families face a tough time meeting their daily food needs. Some are…
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Finance Minister to present 2020 mid-year budget review in Parliament today
Finance Minister, Ken Ofori-Atta will later today, Thursday, July 23, present the 2020 mid-year budget review and supplementary estimates for the financial year in Parliament in accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921). This particular presentation will highlight government’s plan on how the country will recover from the shocks…
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Use of electronic payment channels records 81% growth in 2020 1st half – GhIPSS
Latest figures from the Ghana Interbank Payment and Settlement Systems (GhIPSS) show that patronage of electronic payment channels that go through the GhIPSS platform, increased by 81 percent in the first half of this year compared to the same period last year. According to GhIPSS, the total volume of transactions spanning January to June 2020,…
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MiDA receives equipment for ECG’s meter management system
The Millennium Development Authority, (MiDA) has received equipment for a modern Meter Management System (MMS) being set up for the Electricity Company of Ghana (ECG). The equipment, worth USD 12 million, has been procured with funds provided by the Millennium Challenge Corporation (MCC), an Agency of the United States Government, under the Ghana Power Compact…
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Make provision for our $1.4bn debt in mid-year budget – IPPs to Gov’t
Ahead of the presentation of the 2020 Mid-Year Budget Review in Parliament on Thursday, July 23, the Chamber of Independent Power Producers and Bulk Consumers, CIPDiB, is asking government to capture the payment of the about USD$1.4 billion debt owed them in the budget. According to the Chamber, which is made up of the Sunon-Asogli…
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Ecobank Ghana stops seizure of assets over GHS10M debt
Officials of Ecobank Ghana at its Head Office in Accra, on Tuesday, July 21, stopped the attempted seizure of the bank’s assets by police officers and bailiffs who were there to enforce a High Court order over a debt the bank owes a private entity. Some police officers came to the premises of Ecobank HQ…
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Widen tax net to make up for oil revenue shortfalls in mid-year budget – COPEC to Gov’t
The Chamber of Petroleum Consumers Ghana, COPEC, says government would have to be more serious about broadening the tax net especially by capturing the informal sector if it hopes to make up for the revenue shortfalls created by fallen crude oil prices. According to COPEC, the COVID-19 pandemic has presented an opportunity for government to…
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Comprehensive policies needed in post COVID-19 recovery – IEA
The Institute of Economic Affairs (IEA), says properly coordinated and comprehensive policies are required to ensure a post-COVID-19 pandemic recovery. It says the recovery would be difficult and protracted as the pandemic has caused extensive disruption to Ghana’s economy, severely affecting businesses, jobs and livelihoods. The IEA, in its summary of policy initiatives to government,…
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Gov’t must review petroleum agreements in Mid-Year budget – COPEC
The Chamber of Petroleum Consumers Ghana, COPEC, has asked government to immediately review all petroleum agreements and possibly consider the subsequent annulment of non-performing contracts in the interest of the country. According to COPEC, the evidence of non-performance from some of the existing contracts does not paint a sustainable picture for the industry as the…