Category: Government
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Terkper challenges Ghana’s debt figures published by BoG
Former Finance Minister, Seth Terkper, says Ghana’s total debt stock published by the Bank of Ghana does not reflect the true debt of the country. Mr. Terkper argues that Ghana’s debt to GDP is currently 63 percent and not the 59.3 percent published by the central bank. The Bank of Ghana in its Summary of…
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Ghana adds GHS16.9 billion to debt stock in 2020 1st quarter
New figures released by the Bank of Ghana show that the country’s debt stock increased by 16.9 billion cedis in the first quarter of 2020, that’s from January to March. The figures, which were contained in the Bank of Ghana’s Summary of Economic and Financial Data pegs the country’s total debt stock by March 2020…
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Registrar General issues guidelines for virtual AGMs
The Registrar General’s Department has issued modalities for companies to hold their Annual General Meetings using virtual platforms. The Department says it has to be notified before such meetings are held. “The Registrar-General should be notified before such a virtual meeting is held. The notification can be submitted to the Head Office in Accra or…
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Supreme Court dismisses suit against Ofori-Atta over $2.25bn Eurobond issuance
The Supreme Court has in a unanimous decision dismissed the case filed against the Minister of Finance, Ken Ofori-Atta, in the issuance of the $2.25 billion Eurobond in 2017. The Chief Justice, Kwasi Annin-Yeboah, who announced the decision said the details of the ruling will be made available on Wednesday, May 6, 2020. Dynamic Youth…
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Gov’t to raise GH¢17.96bn in bonds from domestic market for second quarter
Government is seeking to raise a total of 17.96 billion cedis in bonds, from the domestic market for the period spanning April to June, 2020. This is about 6% less than the 19.09 billion cedis targeted for the first quarter of 2020, from January to March. Per the issuance calendar published by the Bank of…
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Finance C’ttee yet to decide on request for lowering of Stabilization Fund cap
Parliament’s Finance Committee on Wednesday April 1, 2020, concluded a meeting on government’s request for the lowering of the cap on the Stabilization fund from 300 million dollars to 100 million dollars.. According to Citi Business News sources in the meeting, the Committee could not conclusively deal with the matter due to the absence of…
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COVID-19 cases in Ghana hits 152
Ghana’s case count for COVID-19 has increased to 152. The death toll and recovered cases still remains five and two respectively. This follows the confirmation of 11 new cases by the Ghana Health Service on Sunday, March 29, 2020. Ten of the new cases were among persons who were under mandatory quarantine in Tamale under…
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Some Ghanaian hotels contemplate closure soon as COVID-19 causes low patronage
As the coronavirus COVID-19 takes a toll on all kinds of businesses and economic activities globally, the Ghana Hotels Association says its members may be forced to close down some of their facilities if government doesn’t take steps to cushion them from the effects of low patronage. The Association says very few people are now…
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GRIDCo threatens to surcharge encroachers of its lands for cost of eviction
The Ghana Grid Company, GRIDCo, has cautioned it will start surcharging encroachers on its lands, the amount incurred in evicting them from the properties. A statement issued by the power supply company said the impact of encroachment on its lands could prolong outages experienced by some customers if the situation is not checked. GRIDCo says…
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Esoko urges gov’t to consider value addition aside from constructing warehouses
Agricultural profiling and messaging service provider, Esoko Ghana, wants government to be proactive with value addition to agricultural produce beyond the warehousing policy to boost production. As part of measures to achieve food security, the government is set to construct one warehouse in each district to help store excess agricultural produce. This is to augment…