Category: Economy
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President’s 5% GDP growth rate projection realistic – Economist
Economist with DataBank, Courage Martey says the President’s announcement of GDP growth rebounding to nearly 5 percent in 2021 is not far-fetched. President Nana Akufo – Addo in his first State of the Nations Address for his second term in office, expressed confidence in the ability of government’s One Hundred Billion Cedi Ghana CARES Obantampa…
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2021 budget: Government to raise US$5 billion from ICM funding program
Government has begun processes to raise an amount of US$5 billion to “support growth-oriented expenditures” in the 2021 budget for this year. This comes after an earlier consideration to launch a 2021 International Capital Market (ICM) funding programme for the medium term in order to raise this amount of money. The ICM Programme instruments consist…
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Government urged to present credible recovery plan in 2021 budget
An economist at the University of Ghana Business School, Dr. Patrick Asuming has urged government to use the 2021 budget reading to present a credible recovery plan to the nation. The 2021 budget is expected to be presented by the Majority Leader in Parliament Osei- Kyei Mensah Bonsu according to information available to Citi Business News. This follows…
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Exporters to begin enjoying benefits of Ghana-UK trade deal from today – Prof. Kuruk
Ghanaian exporters to the United Kingdom can from today March 5, 2021, begin enjoying the benefits inherent in the newly signed trade agreement between the two countries, even as Ghana’s Parliament works to ratify the agreement. The new deal which has been approved by the executive will provide duty free-quota free access for Ghanaian exports…
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Interim Trade Partnership Agreement signed between Ghana and UK
After years of negotiations, a new Interim Trade Partnership Agreement between the Republic of Ghana and the United Kingdom of Great Britain and Northern Ireland has been signed. The new Agreement replaces the Interim Ghana – European Union Economic Partnership Agreement which governed trade relations between Ghana and the UK until the Interim EPA Agreement…
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Don’t sign onto Debt Service Suspension Initiative – Government urged
Economist with Databank, Courage Kingsley Martey, has asked government not to take advantage of the Debt Service Suspension Initiative (DSSI). This follows calls by some stakeholders within the financial for government to employ strategies to slow down the rate of the country’s debt accumulation. According to him, though the initiative is powerful, the move is…
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Final Ghana-UK trade agreement to be signed on Friday – Alan Kyerematen
Ghana will at on Friday, March 5, 2021, sign a final trade agreement with the United Kingdom (UK) that would replicate the effects of the trade relationship between Ghana and the UK prior to the end of the Transition Period following the withdrawal of the UK from the European Union. This was made known by…
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Don’t charge new rates until 3rd quarter – Shipping lines urged
The Concerned Freight Forwarders and Traders Association of Ghana has added its voice to calls on shipping lines to suspend the scheduled increase in shipping rates from March 1, 2021. Last week some stakeholders at the Tema Port raised concerns over an impending increase in Shipping Line and handling charges; insisting the charges are not…
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Stakeholders call for increased investment to improve quality of employment data
Stakeholders have bemoaned the seeming lack of transparent, real-time and verifiable data on jobs in the Ghana. Their disappointment follows the debate over the creation of 3 million jobs by the current government in its first term, during the vetting of Employment and Labour Relations Minister-nominee, Ignatius Baffour Awuah in parliament on February 17, 2021.…
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$134 million GCGP judgement debt has damaged Ghana’s reputation – IES
The Institute for Energy Security (IES) has bemoaned the impact of a judgement debt that has been slapped on the government by the International Court of Arbitration. Ghana has been hit with a US$134 million judgement debt over the cancellation of its Emergency Power Agreement with GCGP Limited. The contract, signed in 2015, was among…