Category: Business
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IMF exit conditions caused exchange rate spikes in March – Bawumia
Vice President, Dr. Mahammadu Bawumia has blamed the depreciation of the cedi the country experienced in March 2019 on some of the exit conditions by the International Monetary Fund (IMF) programme. According to him, the Bank of Ghana had to implement reforms to ensure an increase in the country’s international reserves in a bid to end…
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BoG didn’t pump money into economy to stabilize cedi – Bawumia
The Bank of Ghana did not inject $800m into the country’s international reserves in order to stabilize the cedi when it sharply depreciated against its major trading currencies in March 2019. This is according to the Vice President, Dr. Mahamudu Bawumia. Dr. Bawumia, who is also the chairman of the government’s Economic Management Team while…
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BoG didn’t pump money into economy to stabilize cedi – Bawumia
The Bank of Ghana did not inject $800m into the country’s international reserves in order to stabilize the cedi when it sharply depreciated against its major trading currencies in March 2019. This is according to the Vice President, Dr. Mahamudu Bawumia. Dr. Bawumia, who is also the chairman of the government’s Economic Management Team while…
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GHc1.9bn saved within 21 months from scrutiny of procurements – PPA
The Nana Akufo-Addo government has been able to save the state a whopping amount of GH₵1.9 billion due to the tightening of the public procurement space, which prevented procurement malpractices. Chief Executive Officer (CEO) of the Public Procurement Authority (PPA), Agyenim Boateng Adjei, who announced this, cited a number of procurement malpractices which the authority…
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SEC increases capital requirement for capital market operators
The Securities and Exchange Commission (SEC) has indicated that it will increase the minimum capital requirement for companies operating within the Capital Market by end of year. The companies include Fund managers, mutual funds, unit trusts, broker dealers and custodians. Fund Managers for instance will have their present minimum capital of Ghc100,000 increased to Ghc2…