Category: Government
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$3bn IMF bailout: Ghana to receive 1st tranche by 2023 first quarter
The Finance Minister, Ken Ofori-Atta, has expressed confidence that Ghana will receive the first tranche of about $3 billion from the International Monetary Fund (IMF) by the first quarter of 2023. According to the Minister, key fiscal measures, structural reforms, and the medium-term macro-fiscal framework in the 2023 Budget are aligned with the IMF-supported Programme.…
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Financial sector gets GH₵15bn to address liquidity under Debt Exchange Program
The size of Ghana Financial Stability Fund (GFSF) being established by government with the support of development partners is worth GH₵15 billion. Encouraging full participation of financial institutions This is to support and encourage full participation of financial institutions in the voluntary debt exchange programme. GH₵137bn notes and bonds The Fund will provide liquidity to…
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DVLA announces guidelines for 2023 vehicle registration
The Driver and Vehicle Licensing Authority (DVLA) has announced a set of required guidelines to aid vehicle owners to have their cars registered for next year, 2023. The Licensing Authority in a statement advised the general public to follow the guidelines to have their vehicles registered as required by the Road Traffic Regulations, 2012 (L.1 2180).…
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Parliament approves 2023 budget
Parliament has approved the 2023 Budget Statement and Economic Policy despite opposition from the Minority on the revenue mobilization measures. The House has been debating the statement since November 29, after it was presented by the Finance Minister. During the final day of debate, the Minority group raised concerns about some of the revenue generation…
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Ghanaians to pay more for goods, services as VAT goes up 2.5% in 2023
Ghanaians will from 2023 pay more for goods and services, as government has reviewed upwards the Value Added Tax (VAT) by 2.5 percent. This was announced by the Finance Minister, Ken Ofori-Atta on Thursday when he delivered the 2023 budget statement in Parliament. The Finance Minister said this review was part of a seven-point agenda…
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Cedi loses 53.8% of its value as gov’t adds GH¢93bn debt in 2022
Ghana’s Cedi has declined by 53.8% in value against major currencies, since the beginning of 2022, Finance Minister Ken Ofori-Atta has said. Presenting the 2023 Budget in Parliament on Thursday, Mr. Ofori-Atta blamed the demand for foreign exchange as one of the reasons for the decline of the cedi. “The demand for foreign exchange to…
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Cabinet approves draft rent bill; expected in Parliament soon
Cabinet has given approval for the draft rent bill and recommended same for the consideration of Parliament, the Minister for Works and Housing, Francis Asenso-Boakye has revealed. Parliament is expected to soon deliberate on the bill to ensure that it is enacted into law. Speaking at a Press Briefing on Sunday, November 13, Mr Asenso-Boakye…
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Private Universities bemoan government neglect
Private universities have bemoaned what they describe as government neglect of their operations despite their massive contribution to the county’s human resource development. According to the chairman of the Council for Independent Universities (CIU), Professor Nicholas Nsowah-Nuama, many private universities are overwhelmed by stifling capital, staff, and the administrative and overhead cost of singlehandedly running…
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Construction Chamber joins calls for the removal of Finance Minister
There have been recent calls for the removal of the Finance Minister, Ken Ofori Atta from office and the Ghana Chamber of Construction Industry believes his sacking has been long overdue. Chief Executive Officer of the Ghana Chamber of Construction Industry, Emmanuel Cherry, believes the top job must be handed to a more competent person.…
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Akufo-Addo directs SIGA to probe SOEs cited in Auditor-General’s report
President Nana Addo Dankwa Akufo-Addo has directed the State Interest and Governance Authority (SIGA) to investigate the circumstances under which some state agencies were cited for infractions in the 2021 Auditor-General’s report. The President says SIGA must present its report to the Chief of Staff within four weeks. The President was speaking at a meeting…