Category: Government
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Ghana Is the Star in IMF’s 2019 Economic Growth Forecast
Ghana will be the fastest-growing economy in the world this year, according to the International Monetary Fund. The lender’s growth forecast of 8.8 percent for the producer of cocoa, gold and oil dwarfs the 6.6 percent median in a Bloomberg survey. The IMF’s projection in its latest World Economic Outlook published Tuesday is “way too…
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Engineers bemoan poor use of technology in Ghana’s development
Different stakeholders in the engineering profession have bemoaned the poor level of mastery and innovative deployment of technology and its application for Ghana’s economic growth. According to them, the vision of industrialization for Ghana will not be realized if the country continues to ignore the important role of science and technology in its development. At…
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Intermittent power outages caused by financial challenges–IES
The Institute of Energy Security has said government is facing severe liquidity challenges hence the struggle to fuel plants to power electricity. The institute claims there is insufficient funds to buy crude oil, resulting in frequent power outages in the country. Already, a former Deputy Power Minister, John Jinapor, has said that the Ghana National…
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Prof. Samuel Kobina Annim named new gov’t statistician
An Associate Professor of Economics, Professor Samuel Kobina Annim has been appointed as the new Government Statistician. He assumed duty on March 1, 2019. The appointment of Prof. Annim by President Akufo-Addo was recommended by the Public Services Commission. Prior to his coming into office, David Kombat was acting as the government’s statistician following the…
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Peasant farmers association welcomes Planting for Export policy
The Peasant Farmers Association of Ghana has welcomed government’s new Planting for Exports and Rural Development policy. “You know we have said it over and over again that they should listen to the problems or the challenges we face with managing the economy.So if government now comes to realize that there is a need for…
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SMEs urged to adopt sustainable methods to access European market
Small and Medium Size Enterprises in Ghana have been urged to adopt sustainable practices in order to access profitable markets in Europe and the North America. The comments were made at the launch of the first Trade for Sustainable Development Hub in West Africa here in Ghana. The Trade for Sustainable Development Hub in Accra is…
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Sub-Saharan economic growth recovery to take longer – World Bank
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The World Bank has cut its growth forecast for Sub-Saharan Africa this year to 2.8 percent from an initial 3.3 percent, it said on Monday. The commodity price slump of 2015 cut short a decade of rapid growth for the region, and the bank said growth would take longer to recover as a decline in…
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BoG justifies introduction of upgraded cedi notes
The Bank of Ghana (BoG) says the introduction of the upgraded cedi note is a normal exercise it undertakes to fight counterfeiting of the currency. The upgraded banknotes are scheduled to be in circulation from May 6, 2019. According to the central bank, both the old and the new notes will be used concurrently until…
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Revised benchmark values : Importers access actual figures on goods
Calculation and payment of new benchmark values on imports have been made easier following the publication of detailed documents by the valuation agencies at Ghana’s ports. The Vice President, Dr. Mahamudu Bawumia on April 3, 2019 announced cabinet’s decision to slash the benchmark values by fifty percent (50%) for all imports and thirty percent (30%)…
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BoG to issue upgraded cedi notes on May 6
The Bank of Ghana (BoG) is expected to issue upgraded banknotes into circulation on May 6, 2019. The upgraded banknotes will have enhanced security features in line with evolving changes in technological landscape, according to the BoG. The bank additionally said in a statement that the upgraded banknotes also come with improved durability and machine…