Category: Local Economy
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Ghana Mine Workers Union calls for increased local participation in sector
As the country’s economy continues to struggle and the cedi rapidly depreciates now might be the time to consider active local participation in the country’s extractive sector. The Ghana mine workers union believes this is critical to checking the repatriation of funds from the country abroad which have contributed to the dire state of the…
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GUTA calls for scrapping of benchmark value system
The Ghana Union of Traders Associations (GUTA) is calling for a scrapping of the Benchmark Value system. GUTA argues that now might be the right time to review the benchmark valuation method arguing that it was contrary to the World Trade Organization’s valuations system. This follows reports by GUTA that the Ghana Revenue Authority plans…
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Cabinet, EMT, banks and forex bureaus to meet over depreciating cedi – Oppong Nkrumah
Government has announced plans it says will help end the continuous depreciation of the Ghana cedi. Information Minister, Kojo Oppong Nkrumah says the Governor of the Central Bank, Dr. Ernest Addison will today, October 25, 2022, meet all CEOs of commercial banks and forex bureaus to address the issue. The cedi is currently selling at…
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Government must begin pegging of port exchange rate right away- GUTA
The Ghana Union of Traders Associations (GUTA) has indicated that it expects the government to, as soon as possible, begin the implementation of its proposed measures to check the constant hike in port duties in the country. GUTA President Dr. Joseph Obeng stated that it was ‘very welcoming … for which we are very grateful.’…
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VISAL & iRisk Reinsurance Brokers organize a successful workshop for the Insurance market.
Visal Reinsurance Brokers Limited (Visal Re) in partnership with iRisk Reinsurance Brokers Limited (iRisk Re) have organized an educational workshop on treaty reinsurance accounting for the insurance market in Ghana. The three-day non-residential workshop held from Tuesday, October 11 to Thursday, October 13 at the Holiday Inn Hotel, Airport-Accra was aimed at building the technical…
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Staff-level agreement to be reached on IMF negotiations by end of year – Finance Ministry
The Ministry of Finance says government and the International Monetary Fund (IMF) have reached a clear path towards the final details of a programme with the goal of reaching a Staff-Level Agreement by the end of the year. This follows meetings between the Government and the IMF advancing negotiations towards a Fund-supported Programme in Washington…
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We’ve identified specific policies to restore macroeconomic stability in Ghana – IMF
The International Monetary Fund (IMF) and government have identified specific policies to help stabilise the Ghanaian economy from its current predicament. This was disclosed in a statement by the Bretton Woods institution after its officials visited Ghana from 11th to 19th October 2022. The IMF team which was led by Stéphane Roudet met the Finance…
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Gov’t to maintain forex rate at ports to aid traders – Deputy Trade Minister
The government will maintain a fixed exchange rate at the ports for the next three months to cushion traders who import goods into Ghana, Deputy Trade Minister, Michael Okyere Baafi, has said. The dollar rate will be kept at the same level as the Bank of Ghana’s interbank rate. In a response to the protest…
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12th pre-harvest to increase business among value chain players
Agrihouse Foundation is set to hold the 12th edition of annual Pre-harvest Agribusiness Conference and Exhibitions in the Northern region, on the theme, “Connecting the Unconnected: the Farmer-the- Buyer and the Market.” The three (3) day most important Farmer to Buyer and Agribusiness market linkage event is scheduled to take place from Tuesday, October 25…
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Producer Price Inflation hits 45.6%
Producer Price Inflation, the average price of goods and services received by domestic producers for their production activities, for the month of September has risen to 45.6 percent. This rate represents a 5.9 percentage point increase in producer inflation relative to the figure recorded in August 2022. This increment was mainly influenced by the mining…