Category: Top Stories
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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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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…
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Business slows in Accra as traders close shops in protest
The protest by the Ghana Union of Traders Association (GUTA) over Ghana’s forex challenges and the cost of living crisis has been largely met with support from traders. While most of the traders joined the protest by locking their shops, a significant number of traders had opened their shops for trade. At Tudu, for example,…
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TAGG urges members to defy GUTA’s orders to close shops over economic hardships
The Traders Advocacy Group Ghana is urging its members to keep their shops open despite calls by GUTA to the contrary. The Ghana Union of Traders Association (GUTA) asked its members to close their shops on Wednesday in protest of the current economic situation in Ghana. The dollar rate, inflation rate, lending rate and the…
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Abena Amoah appointed Managing Director of GSE
The Council of the Ghana Stock Exchange (GSE) has announced the appointment of Abena Amoah as the Managing Director of the Exchange, with effect from November 24, 2022. In a statement issued by the GSE, it indicated that Abena Amoah will take over from Ekow Afedzie, the current Managing Director, who will retire from the…
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Unpaid contractors to take legal action against government
The Ghana Chamber of Construction Industry has threatened to take legal action against government, for failing to pay over 10 billion cedis accrued debt its owes contractors. The contractors lament that for over four years now, government has stalled to pay contractors for work done. A situation they say is having a negative toll on…
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Fuel prices to hit GHS18/litre in December if government doesn’t intervene – COPEC
If steps are not taken to curb the rampant increase in the prices of fuel at the country’s filling stations, the Chamber of Petroleum Consumers Ghana (COPEC) predicts that fuel prices could reach GHS18 per litre by the end of the year. ‘We are now hitting GHS15 per litre for fuel,’ according to Duncan Amoah, Executive…
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Fuel prices jump to almost GHS16/litre
Over the weekend, fuel prices have shot up to almost GHS16 per litre at some stations in the country. At a leading Oil Marketing Company, Total Energies, for instance, the price of Diesel now stands at GHS15.99 while petrol sells for GHS13.10. This is a sharp rise from the GHS11.06 per litre for petrol and…