Category: Local Economy
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IMF assures of restored macroeconomic stability in Ghana
The International Monetary Fund (IMF) has assured Ghanaians it will assist government to restore macroeconomic stability, spur growth and bring the much needed relief to them. A statement issued by the Fund’s mission chief for Ghana, Stéphane Roudet prior to the visit of the staff team to Accra said, “the IMF remains fully committed to…
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We’ll fiercely resist govt’s debt exchange programme – GNAT
The Ghana National Association of Teachers (GNAT) has warned the government that it will fiercely and vigorously resist any attempt to touch any fund under the Debt Exchange programme that would be detrimental to its members, both in active service and retirement. In a press release signed by General Secretary for GNAT, Thomas Tanko Musah…
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We can’t accept debt exchange programme – Securities Industry Association
The Ghana Securities Industry Association (GSIA) is the latest group to kick against government’s newly announced debt exchange programme. GSIA in a statement said, although it understands the difficulties the country is facing, it cannot accept the programme in its current form because it believes a bond is a contractual agreement between a borrower and…
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We were not consulted on debt exchange programme – Chamber of Corporate Trustees
The Executive Secretary of the Chamber of Corporate Trustees, Thomas Kwesi Esso, says the Chamber was not consulted prior to the announcement of the proposed rollout of Ghana’s Domestic Debt Exchange Programme. Speaking at the launch of the debt restructuring programme on Monday, December 5, 2022, the Finance Minister, Ken Ofori-Atta said the “Government have…
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BoG upgrades GH¢1 coin with enhanced security features
The Bank of Ghana (BoG) has announced an upgrade on the GH¢1 coin with enhanced security features. A statement from the BoG said it will issue the upgraded GH¢1 coin into circulation from Monday,12th December 2022. The coin, according to the Central Bank, is similar to the existing GH¢1 coin in shape, form and images;…
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Government confident of reaching Staff-Level Agreement with IMF soon
Government is optimistic that it will reach a Staff-Level Agreement soon with the International Monetary Fund, IMF, for a programme aimed at restoring macroeconomic stability and protecting the most vulnerable. To this end, it is determined to implement wide-ranging structural and fiscal reforms to restore fiscal and debt sustainability and support growth. Addressing the media…
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Domestic debt exchange: No haircut on treasury bills, principal bonds – Gov’t
Government has announced that there will be no “haircut” on the principal of bonds and that individuals with government bonds will have their full investments on maturity. In a public address on the recent debate about possible haircuts on all bonds and treasury bills following government’s debt restructuring deal with the International Monetary Fund (IMF),…
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Stakeholders push for development of national hydrogen policy
Stakeholders within the energy sector are pushing for speedy efforts toward developing a comprehensive national policy and a roadmap on hydrogen energy. This, Executive Chairman of the GMEA Group, Charles Laba, notes will activate the needed investment and business activity relating to hydrogen country as well as accelerate the country’s national energy and climate plan.…
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US Ambassador to Ghana pays courtesy call on BoG Governor
The US Ambassador to Ghana, Her Excellency, Virginia Palmer, has paid a courtesy call on Governor Ernest Addison and Management of Bank of Ghana. In a welcoming address, Dr. Addison provided an overview of Ghana’s current economic situation and noted that inflation had risen to over 40%, whilst the Ghana Cedi had depreciated by over…
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Customs Division of GRA charged to enforce ban on grains, soya beans export
The Ghana Revenue Authority, GRA, has charged stations in border towns in the northern region to implement the ban on exportation of grains and soya beans The ban, which took effect in September 2021, was due to expire at the end of March but was extended to September 2022. In a communique issued by the…