Author: Nii Larte Lartey
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IMF, World Bank work to accelerate debt treatment for Ghana, others under G20
The International Monetary Fund (IMF) and World Bank are working together to accelerate debt restructuring for Ghana and other countries under the Group of Twenty (G20) Common Framework. Ms Kristalina Georgieva, Managing Director, IMF said this during a plenary meeting at the 2023 IMF/WGB Annual Meetings in Marrakech. “The IMF and the World Bank are…
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Zambia advises Ghana to have restrictive laws on debt accumulation
Mr Situmbeko Musokotwane, Minister of Finance and National Planning, Zambia, has advised Ghana to have restrictive laws on debt accumulation. “We put a law in Parliament which tied my hands to say, going forward, you can’t be like those in the past. So, we tied our hands for Parliament to have more power and restrictions…
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2024 budget: Government commits to more expenditure cuts, aggressive growth, jobs
The government has assured Ghanaians that it will safeguard current economic gains, and make it reflect in the living conditions of everyone in the coming months. To this end, there would be more expenditure reduction measures in the 2024 budget, as well as policies to consolidate macroeconomic gains, ensuring that inflation and exchange rate are…
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World Bank projects Africa’s economy to slow down to 2.5%
Sub-Saharan Africa’s economic outlook remains bleak amid an elusive growth recovery. According to the latest World Bank Africa’s Pulse report, rising instability, weak growth in the region’s largest economies, and lingering uncertainty in the global economy are dragging down growth prospects in the region. Economic growth in Sub-Saharan Africa is forecast to decelerate to 2.5%…
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Pensions regulation to be automated
Mr Ignatius Baffour Awuah, Minister for Employment and Labour Relations, says the Government is working towards automating the regulation of pensions in the country. He said it was leveraging digital technology to introduce new software for the pensions regulator, the National Pensions Regulatory Authority (NPRA). The software, he said, would automate the regulatory processes of…
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Government must adopt ‘‘warlike’’ approach to solve economic challenges – Prof Bokpin
Professor Godfred A. Bokpin, a Professor of Finance at the University of Ghana, says the Government ought to adopt a “warlike” approach to solve the country’s economic challenges. He said economic issues such as corruption, low tax revenues, public expenditure and all economic bottlencks must be dealt with intentionally. Prof Bokpin said this at a…
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Punitive domestic tariffs threaten African trade
Tariff and non-tariff barriers in the country remain a real threat to the vision of a liberalised African trade market under the African Continental Free Trade Area (AfCFTA). This is despite the fact that Ghana’s legal framework supports free trade, says a study that revealed tariff barriers are imposed as taxes and duties on imports…
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Restructuring NIB’s balance sheet won’t fix solvency challenges – Banking consultant cautions
Banking consultant, Dr. Richmond Atuahene, has cautioned against proposals for a restructuring of the balance sheet of the National Investment Bank (NIB). NIB is facing significant financial challenges with liabilities exceeding GHS 2 billion. The Minority in Parliament has strongly urged the government to undertake a significant restructuring of the ailing NIB in order to…
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MIIF to invest an initial $32.9 million into Ghana’s first lithium mine
The Minerals Income Investment Fund (MIIF) has agreed a two-part capital investment totaling $32.9 million in the first ever lithium mine to be developed in Ghana. MIIF announced its intention of investing in Atlantic Lithium, which trades on the alternative market on the London Stock Exchange (LSE) and the Australian Stock Exchange (ASX) at the…
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Ghana now becoming leader in coconut production; ranked 12th globally – GEPA
The Ghana Export Promotion Authority (GEPA) says through various strategic interventions, the country is making significant strides in terms of coconut production and export on the global stage. Dr Afua Asabea Asare, the Chief Executive Officer of GEPA, said currently, Ghana was ranked 12th in world production of coconut and the number one producer in…