Category: Local Economy
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Government may not be able to conclude IMF deal this year – Economist
Dr. Theophilus Acheampong, an economist, doubts government will be able to conclude the deal with the International Monetary Fund before the year ends. “We have done our own Debt Sustainability Analysis as part of the budget cycle. When the IMF comes to town, they also do theirs, and then both sides sit to agree on…
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Mobile money loan defaulters to be denied access to future credit- BoG
The Bank of Ghana (BoG) has warned individuals who have acquired loans through Mobile Money platforms, but have deliberately refused to register their SIM cards with the intention of avoiding repayment of the loans to rescind the decision and clear their debt. A statement from the BoG stated that, “failure to repay such loans will…
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Don’t rely solely on IMF to solve your problems- Theo Acheampong to gov’t
An Economist and Political Risk Analyst, Dr. Theo Acheampong, has urged government not to bank all its hopes on the International Monetary Fund (IMF) in its quest to fix the struggling economy. A team from the IMF has begun the second round of discussions with government on a bailout, with a focus on debt sustainability.…
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Finance Ministry, BoG begin debt sustainability analysis with IMF
The Ministry of Finance has confirmed that its officials and that of the Bank of Ghana have commenced a comprehensive debt sustainability analysis with the International Monetary Fund (IMF) for a US$3 billion support programme. A statement from the Ministry said “the Government of Ghana is putting together a comprehensive post-Covid-19 economic programme which will…
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BoG postpones routine MPC meeting over IMF team visit
The Bank of Ghana’s (BoG) Monetary Policy Committee (MPC) will not be holding its routine quarterly meeting today, Monday, September 26, 2022, as scheduled. A statement from the Central Bank last Thursday said the rescheduled meeting will now coincide with Government’s next round of engagements with the International Monetary Fund (IMF). The Fund is scheduled…
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IMF mission to visit Ghana from September 26 to October 7
An International Monetary Fund (IMF) staff team will be in Ghana from September 26 to October 7 to continue discussions with the government on policies and reforms that could be supported by a lending arrangement. IMF staff will also further engage with other stakeholders during the visit. The IMF team will be led by Stéphane…
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GCB wins big at 2022 Citi Business Olympics; sweeps 12 trophies
GCB bank won 12 trophies at the just-ended 2022 Citi Business Olympics. GCB came in first in the sack race for women, table tennis for men and women, tug of war for men and volleyball for women. The bank won silver in the lime and spoon, volleyball for men, arm wrestling for men and tennis…
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Weir Minerals wins CEO challenge at 2022 Citi Business Olympics
An executive of Weir Minerals who represented the Chief Executive Officer of the company came top of the CEOs Challenge at the 2022 edition of the Citi Business Olympics. Over 40 CEOs from different companies took part in the challenge. For this year’s CEOs challenge, the CEOs were tasked to shoot into an empty pole.…
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Cocoa freight rates increased: 5% for containerised, 10% for bulk shipment
The Cocoa Marketing Company (CMC), Ghana Shippers Authority (GSA) and 18 shipping lines have agreed to increase basic freight rates for the 2022/2023 cocoa season to all destinations but the United Kingdom (UK). As a result, basic freight for containerised shipments to all destinations except UK has been increased by 5 percent and basic freight…