Category: Local Economy
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Gold Fields production drops by 4% in 2022
Production for Goldfields Ghana dropped by four percent to 838,000 ounces (koz) in 2022 from 871, 000 (koz) in 2021, mainly driven by decreased production at the Damang Mine due to completion of the Damang pit cutback as well as lower production at Asanko. The Company in a press release indicated that all-in costs across…
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IMF deal in danger if China rejects Ghana’s debt relief – German Ambassador
The German Ambassador to Ghana, Daniel Krull, has warned that the $3 billion bailout being sought from the International Monetary Fund is in danger of not being approved if China fails to agree to a debt relief package. Addressing the media, Daniel Krull said China has so far rejected attempts by officials from Ghana to…
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Debt relief: Meet certain conditions before we help – German Ambassador
The German Ambassador to Ghana, Daniel Krull, has assured that his government is willing to assist Ghana talk with external creditors, especially China only if certain conditions are met. President Nana Addo Dankwa Akufo-Addo on Friday, February 3, urged Germany to “encourage” China, an ad hoc member of the Paris Club, to support Ghana’s debt…
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Debt cancellation: Ghana’s engagement with China postponed to March
The Finance Minister, Ken Ofori-Atta, has disclosed that government’s planned high-level meeting with Chinese creditors over Ghana’s debt restructuring has been postponed to late March 2023. According to him, this is due to the upcoming National People’s Congress of China which is scheduled for early March. However, bilateral talks will continue ahead of this important…
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Development partners key contributors to Ghana’s growth agenda – Ofori-Atta to German delegation
The Minister for Finance, Ken Ofori-Atta, yesterday held bilateral talks at the Ministry of Finance with the German Federal Minister for Economic Cooperation and Development (BMZ), Ms. Svenja Schulze. The meeting, which was focused on economic cooperation between Ghana and Germany, also highlighted the key role that Ghana’s development partners play towards growth and development.…
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Mofa calls for PPP to harness agricultural growth
Government is calling for a stronger public private partnership geared towards the growth of the agricultural sector. This government believes will give the local economy a boost . Government maintains that it has taken a cue from the twin crises of the COVID pandemic and the invasion of Ukraine by Russia to work to ensure…
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Producer Price Inflation decreases marginally to 52.1% in January 2023
Recent data from the Ghana Statistical Service, GSS, indicates that the Producer Price Inflation (PPI) for the month of January, 2023 fell marginally to 52.1%, from the 52.2% recorded in December 2022. Producer price inflation is the average prices of goods and services received by domestic producers for their production activities. Per the latest data…
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DDEP: Govt announces final principal amounts of new bonds
The government has announced the final principal amounts of new bonds in the settlement of the domestic debt exchange programme (DDEP). The Finance Ministry in a statement disclosed that: ”In anticipation of the settlement of the Domestic Debt Exchange Programme (DDEP) on 21St February 2023, the Government announces the aggregate principal amount of each series…
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COCOBOD, WCF shares chocolate products with farmers
Ghana Cocoa Board (COCOBOD) in collaboration with World Cocoa Foundation has shared a variety of chocolate products with some Cocoa Farmer Cooperatives in various cocoa-growing regions as part of this year’s National Chocolate Day celebration. In an interaction with the farmers on Tuesday, February 14, Executive Director for the Cocoa Health and Extension Division (CHED),…
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Irregularities in Ghana’s import substitution policy will be addressed – KT Hammond
The trade minister designate, K. T Hammond, is pushing for a thorough review of Ghana’s import substitution policy to ensure a boost in the country’s export earnings. The policy, which aims to reduce imports and increase local production to enhance the economy, has been in place for several years but has yet to make a…