Category: Top Stories
-
MPS ready to cede 20% of container traffic for two years – GPHA
Management of Ghana Ports and Harbours Authority (GPHA) has revealed that Meridian Port Service (MPS) has agreed to cede 20 percent of container traffic to the Authority effective August 1, 2022. The decision was arrived at after a crunch meeting with the Minister of Transport, Board Chairman of the Authority, the Director of Tema Port…
-
Gov’t fees and charges to go up 15% after parliamentary approval
Parliament has approved the Fees and Charges Miscellaneous Provisions Bill 2022. The approval gives legal backing to the request for a 15 percent increment on the cost of government fees and charges. During the second reading stage of the bill, a deputy Minister for Finance, Abena Osei Asare, indicated that the increment is to ensure…
-
AGI urges Government to speedily take a decision on Tax Exemptions Bill
The Association of Ghana Industries, AGI, is entreating Parliament to decide on the tax exemption bill which was brought before the house in 2019. The push by the Association follows calls by many stakeholders to government to put in place measures to ensure the State is not deprived of billions of cedis, especially through tax…
-
Another team of IMF experts expected in the country in some weeks – DR. Touna-Mama
Another team of experts from the International Monetary Fund (IMF) should arrive in Ghana in the next couple of weeks to continue their data gathering exercise as well as further engagements with government, as part of efforts to further assess the country’s economic situation and help in the shaping of government’s Enhanced Domestic Program, that…
-
Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns
The International Monetary Fund has warned of “economic collapse” in many African economies as the impact of the Russian-Ukraine war has worsened with commodity price shocks and increased cost of living for hundreds of millions of people. According to IMF Managing Director Kristalina Georgieva, inflation is now higher than expected. It has broadened beyond food…
-
African countries that could follow Sri Lanka into economic chaos
The economic crisis in Sri Lanka is not limited to the South Asian nation. From Europe to Asia to Africa, many emerging economies are slipping into chaos, and here’s what experts predict will happen next. Sri Lanka’s worst economic crisis since it gained independence threatens to spread across the developing nations, triggering what experts have…
-
GNPC kicks off Saltpond field decommissioning project
The Ghana National Petroleum Corporation (GNPC) has officially commenced the decommissioning of the Mr. Louie Platform in the Saltpond oil field. The decommissioning project is estimated to last twelve months. Being the first decommissioning project of its kind in Ghana, GNPC, its lead contractor, as well as other relevant stakeholders, showed their readiness to work…
-
Ghana’s worsening debt situation forced gov’t to IMF – Bawumia
Vice President, Dr. Mahamudu Bawumia has explained why the government is seeking financial assistance from the International Monetary Fund (IMF) despite earlier claims that the economy was buoyant. Speaking at the launch of two new high-level information technology programmes at Accra Business School at Baatson in Accra, Dr. Bawumia explained that apart from the Covid-19…
-
IMF’s Country rep defends mixed assessment of Ghana economy in July 2021
The International Monetary Fund’s Resident Representative to Ghana, Dr. Albert Touna-Mama, defended his outfit’s mixed assessment of Ghana’s economy during the July 2021 Article IV consultations, which said Ghana’s economic outlook was improving. Speaking on the Citi Breakfast Show, Dr. Touna-Mama, explained that the assessment that preceded the dire economic downturn in Ghana was based on…
-
Introducing legislation to force banks to lend is not the way to go – GAB advises
The Ghana Association of Banks has advised against using legislation to force banks to lend to the Agriculture sector. This comes on the back of recent remarks by the Minister of Food and Agriculture, to the effect that the banking sector has not been lending enough to the country’s agriculture sector to support its transformation.…