Category: Government
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Moody’s downgrades Ghana’s rating from Caa1 to Caa2
Rating agency, Moody’s has downgraded Ghana’s long-term issuer and senior unsecured debt ratings from Caa1 to Caa2 and placed the ratings on review for downgrade. Moody’s, in February this year, downgraded Ghana from B3 to Caa1. The agency contends that the further downgrade stems from the government’s decision to seek support from the International Monetary…
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EU not banning Ghana’s cocoa – EU Ambassador to Ghana
The European Union has dismissed claims of a ban of Ghana’s cocoa on the international markets. The Information Minister, Kojo Oppong Nkrumah, is said to have warned that Ghana could soon be unable to export cocoa and coffee to Europe due to new legislation. The law mandates European countries to formulate regulations that ensure that…
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IMF to deploy another mission to Ghana in coming weeks
The International Monetary Fund is set to deploy another mission to Ghana in the coming weeks as the country races against time to tie down a bailout programme. In July, a staff mission visited Ghana for initial discussions after the Akufo-Addo administration announced its intentions to head back to the IMF for a bailout. Ghana…
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Accra-Tema motorway users to pay tolls after completion of expansion works
Users of the Accra-Tema motorway can expect to start paying tolls again after the completion of expansion works on the road. During the Mid-year budget review, the Finance Minister, Ken Ofori-Atta, said the completed road will be tolled to recover the whole cost. The toll will also be to “pay lenders and provide a return…
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Minority, business community react to Ken Ofori Atta’s Midyear budget review
After the Presentation of the Midyear budget review by the Finance minister, Ken Ofori Atta, in parliament yesterday, the minority in parliament and members of the business community have been reacting to portions of the captured policies. This comes at a time when the government is making efforts to get the economy back on track…
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Finance Minister Ken Ofori Atta likely to lose job as minority in parliament seek vote of censure
The Finance Minister, Ken Ofori Atta, risks losing his job as the Minority caucus in parliament is gathering signatures to kick start a vote of censure proceedings against him. The move seeks to invoke article 82 of the constitution which provides the procedure of removing a Minister of State through proceedings in parliament. The finance…
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Over-concentration on consumption taxes hurting our revenue mobilization drive – Tax analyst
Ahead of the presentation of the 2022 mid-year budget review on Monday, July 25, 2022, government is being urged to announce clear measures that will lead to the collection of more property and income taxes compared to consumer taxes. According to Tax Analyst, Francis Timore Boi, the over-reliance on consumer taxes in the country is…
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Gov’t fees and charges to go up 15% after parliamentary approval
Parliament has approved the Fees and Charges Miscellaneous Provisions Bill 2022. The approval gives legal backing to the request for a 15 percent increment on the cost of government fees and charges. During the second reading stage of the bill, a deputy Minister for Finance, Abena Osei Asare, indicated that the increment is to ensure…
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Another team of IMF experts expected in the country in some weeks – DR. Touna-Mama
Another team of experts from the International Monetary Fund (IMF) should arrive in Ghana in the next couple of weeks to continue their data gathering exercise as well as further engagements with government, as part of efforts to further assess the country’s economic situation and help in the shaping of government’s Enhanced Domestic Program, that…
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Ghana’s worsening debt situation forced gov’t to IMF – Bawumia
Vice President, Dr. Mahamudu Bawumia has explained why the government is seeking financial assistance from the International Monetary Fund (IMF) despite earlier claims that the economy was buoyant. Speaking at the launch of two new high-level information technology programmes at Accra Business School at Baatson in Accra, Dr. Bawumia explained that apart from the Covid-19…