Category: Local Economy
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Fairtrade Africa holds West Africa Regional Convention
Fairtrade Africa, West Africa Network has held its Regional Convention and Congress from the 13th to the 14th July 2022 in both Ghana and Cote d’Ivoire. This year’s event focused on learnings and best practices from Fairtrade certified producer organisations on value addition and income diversification to remain resilient and viable farmer cooperatives. In his…
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IEA suggests hybrid approach in tackling rising inflation rate
The Institute of Economic Affairs (IEA) is asking the government to take overall responsibility in checking the rise in the country’s inflation rate, as it suggests the use of a hybrid approach to deal with the situation over the long term. This approach, according to the Institute, is a combination of the inflation targeting approach,…
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IMF team concludes visit to Ghana
After a week of intense negotiations with the Government of Ghana, officials of the International Monetary Fund, IMF, have concluded their visit to Ghana. The visit which formed part of the first stage of negotiations with government, was part of efforts to assess the current economic situation and discuss the broad lines of the government’s…
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Ghana’s inflation rate soars again; hits 29.8% in June 2022
Ghana’s inflation rate soared again to hit 29.8 percent in the month of June, a 2.2 percentage point increase compared to the 27.6 percent recorded in May. This comes as many stakeholders continue to mount pressure on the government and the Bank of Ghana to quickly institute measures to check the continuous rise in the…
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Stakeholders call for increased transparency in how E-Levy funds are used
The Chief Executive Officer of the Ghana Chamber of Telecommunications, Dr. Ing. Kenneth Ashigbey, has backed calls for transparency in the manner in which funds accrued from the Electronic Transfer Levy (E-Levy) are used. One of the sources the government was hoping would help it raise much-needed revenue is the E-Levy, but information from government’s…
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Suggested expenditure cuts by the IMF should not affect industry – AGI pleads
The Association of Ghana Industries, AGI, has urged government to ensure that any requests for cuts in expenditure by the IMF, does not affect productive sectors of the economy like agriculture, manufacturing and industry as a whole. As discussions between government and the IMF picks up, different stakeholders have expressed different opinions on the impact…
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Importers and Exporters Association calls for improved ease of doing business
As the Finance Minister prepares to present the Mid-Year Budget Review in Parliament on the 13th of July 2022, the Importers and Exporters Association is urging government to implement more measures to improve the ease of doing business in the country. According to the Association, this will ensure economic growth and position the country to…
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IMF team meets BoG, Minister of Finance as negotiations begin
The International Monetary Fund (IMF) as part of ongoing discussions to develop a bailout program for Ghana, has deployed two delegations to hold simultaneous meetings with separate teams from the Bank of Ghana and the Ministry of Finance today. This comes a day after paying courtesy calls on the Vice President, the Minister of Finance…
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Use 2022 Mid-Year Budget to review tax exemption regime – GUTA
The Ghana Union of Traders’ Association (GUTA) has once again underscored the need for government to review the tax exemption regime to curtail revenue losses, as the Minister of Finance, Ken Ofori-Atta prepares to present the Mid-Year Budget Review on the 13th of July. According to the Association, there is a lack of urgency in…
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Time to take strategic steps to grow Ghana’s economy is now – Pierre Laporte
The Country Director of the World Bank, Pierre Laporte has charged government to take advantage of the current global economic crisis to take strategic steps to help grow Ghana’s tourism sector and the general economy in the medium to long term. Tourism is an important driver of economic growth in Ghana. According to data from…