Category: Top Stories
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Economist optimistic IMF bailout program will boost investor confidence
The Director of the Institute of Statistical, Social and Economic Research at the University of Ghana, Prof. Peter Quartey is optimistic that the interest being shown by the International Monetary Fund (IMF) to save Ghana’s economy will boost investor confidence in the country. The Ministry of Finance on Monday confirmed that its officials and of…
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Cylinder Recirculation Policy to begin in parts of the country by December
The government has announced that the Cylinder Recirculation Policy is set to kick off in parts of the country by the end of the year. This comes years after the policy was introduced as a stop-gap measure following the atomic junction gas explosion saga in 2017. Speaking at the Ghana International Petroleum Conference, Chief Executive…
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IMF allays fears of debt restructuring speculations
The International Monetary Fund (IMF) has allayed the fears of Ghanaians on the back of reports that discussions were set to begin on the restructuring of the country’s debt as part of plans to secure a US$3 billion loan from the Fund. The Bretton Woods Institution insists the restructuring of Ghana’s debt will be dependent…
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Debt restructuring needed despite possible economic shocks – Prof. Bokpin
Economist Prof Godfred Bokpin insists the painful adjustment of debt restructuring is needed to save the economy. The government is expected to commence talks with either domestic or external bondholders as part of efforts to restructure the country’s cedi debt ahead of plans to secure a US$3 billion loan facility from the International Monetary Fund…
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GRIDCo heightens advocacy for relocation of AMERI plant to Kumasi
The Ghana Grid Company Limited (GRIDCo) is still advocating the relocation of the AMERI plant from Aboadze in the Western Region to Kumasi in the Ashanti Region. Following the takeover of the power production plant by government earlier this year, the government disclosed its strategic plan of relocating it to Kumasi to improve the reliability…
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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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Ghana needs major governance reforms to save economy – Economist
Economist, Prof Godfred Bokpin, is highlighting the need for major governance reforms in the country to save the economy. This call comes on the back of the recent downgrade by international ratings agency Fitch. For the second time this year, Fitch has downgraded Ghana’s credit worthiness to ‘CC’ or further junk status, from ‘CCC’. There…
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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…