Category: Government
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Government rejects Moody’s downgrade of Ghana’s credit rating
The government is unhappy with credit rating agency, Moody’s, for downgrading Ghana’s Long-Term Issuer and Senior unsecured bond ratings to Caa1 from B3. According to government, it believes that the recent fiscal consolidation measures announced by the Finance Minister and the 2022 budget, which are anchored on debt sustainability and a positive primary balance, largely…
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Gov’t urged to ensure stable fiscal regime to attract more investments
Executives of leading mining company, Gold Fields, say businesses and investors will appreciate stability in the country’s fiscal regime. According to them, a stable fiscal regime helps with the effective running of businesses. Different stakeholders have for some time now been raising issues with the trend of policy inconsistencies from the government especially when it…
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PMMC appeals for gov’t support to settle its GH¢65 million debt
The Precious Minerals Marketing Company (PMMC) Limited, is calling for government support to settle a legacy debt of over GH¢65 million. The company owes some four banks, and the debt has accrued over a ten-year period. The revelation comes after the 2020 Auditor General’s report, revealed that losses posted by state enterprises and specified entities…
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Airport workers call for sanctioning of operators who flout regulations
The Divisional Union of the Public Services Workers Union (PSWU) at the Ghana Airport Company Limited (GACL) has called for the sanctioning of operators who violate the standards and regulations of the airport. This follows the directive by the GACL for McDan Aviation to suspend its use of Terminal One at the Kotoka International Airport…
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Cedi depreciation pushes debt to almost GH¢345 billion in Nov; 78.4% of GDP
Latest data put out by the Bank of Ghana puts Ghana’s total public debt stock, as of November 2021, at US$ 58.2 billion or GH¢344.5 billion. In Cedi terms, the total debt stock increased marginally from GH¢341.8 billion in September by about GH¢3 billion to the GH¢344.5 recorded in November. In Dollar terms however the…
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Too many tax policy inconsistencies worrying – Tax Analyst
Tax Analyst, Francis Timore Boi has bemoaned the trend of tax policy inconsistencies from the government. According to him, the regular announcement of tax policies followed by a withdrawal of same isn’t good for the government. Since 2017 till date the government has made major U-turns in connection with some key policy proposals, including the…
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World Bank urges Ghana gov’t to take steps to stabilise its economy
The World Bank has charged the government of Ghana to prioritise the development of a roadmap that will return the country to a state of economic equilibrium that is credible in the eyes of stakeholders. Ghana’s public debt has increased from GH¢ 299.1 billion at the end of 2020 to GH¢344.5 billion as at end…
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Gov’t urged to be consistent with COVID-19 protocols to attract international tourists
The government is being urged to ensure its anti-COVID-19 protocols, especially at the Kotoka International Airport, are not changed haphazardly in order to boost traveller confidence. This is according to Aviation Analyst, Sean Mendes. According to him, inconsistent COVID-19-related policies will deter international visitors from travelling to countries like Ghana. Despite the strong performance of…
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Aggrieved First Fund customers demand release of locked-up cash
Members of the Coalition of Aggrieved Customers of First Fund have reiterated their call for the Securities and Exchange Commission (SEC) to ensure they are paid their locked-up cash. According to the Coalition, the customers number about 24,000 people and the monies owed them amounts to over GH¢117 million. It will be recalled that the…
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Gov’t charged to address exorbitant fees of shipping lines once and for all- GIFF
The Ghana Institute of Freight Forwarders (GIFF) is urging the government to take a closer look at the shipping lines operating in Ghana and the exorbitant fees they charge importers and exporters. According to the freight forwarders who are in charge of the import and export of goods, the unreasonably high fees of shipping lines…