Category: Top Stories
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Monetary Policy Rate must be increased to 19% to check inflation – IEA
Amidst the continuous rise in inflation rate and calls for an intervention to stem the situation, the Institute of Economic Affairs (IEA) is projecting a 200 basis points increase in the monetary policy rate to 19 percent. This, it believes, will help narrow the gap with rising inflation and also ease to some extent the…
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6th CEO’s Summit pushes for ease of doing business law to boost economic growth
The Ghana CEO’s Summit is urging government to take a serious look at addressing the bottlenecks embedded in the country’s civil service and craft a framework that will streamline systems for a more efficient delivery of government services. The CEO’S Summit believes that easing business processes like tax filing, business registration and the likes will…
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Policy rate likely to be increased to tame inflation – Databank CEO
The Monetary Policy Committee (MPC) of the Bank of Ghana will from today Wednesday, 18th May 2022 to Friday, 20th May 2022 hold its 106th Regular Meetings to review developments in the economy. The MPC’s regular meetings over the next three days will conclude with an announcement of a decision to either maintain, reduce or…
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Banking Consultant bemoans continuous charging of unfair fees by banks
Banking Consultant, Nana Otuo Acheampong, has bemoaned the continuous charging of some fees by some banks in the country contrary to directives from the Bank of Ghana. In June 2021, the Central Bank warned commercial banks and Specialised Deposit-Taking Institutions in Ghana to abolish some unfair charges in the banking sector. The directive was reiterated…
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Chamber of IPPs disappointed over ECG’s tariff increase request
The Chamber of Independent Power Producers Distributors and Bulk Consumers (CIPDiB), has expressed disappointment at the call for an increment in electricity tariffs by the Electricity Company of Ghana (ECG). According to the Chamber, the government has engaged the IPPs to reduce their capacity charges or tariffs to the ECG, to make the price of…
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Seth Terkper urges Gov’t to present its policy alternative to an IMF program
Former Finance Minister, Seth Terkper has urged government to come out with alternative policies and programs that will support Ghana’s ailing economy, since it insists on not going to the International Monetary Fund (IMF) for support. Finance Minister, Ken Ofori-Atta, last week reiterated government’s stance on not seeking a bailout from the IMF, saying government…
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A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR
As food inflation in the country continues to rise, further pushing national inflation to unprecedented levels, the Council for Scientific and Industrial Research (CSIR) is urging government to invest in a comprehensive storage strategy to deal with post-harvest losses in the country. This the CSIR believes will eventually make food available all-year round which will…
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The seven factors driving high cost of living in Ghana
The average Ghanaian does not need an economics degree to know the economy is going through a very rough patch. They feel it on their commute to work and when shopping for foodstuffs. The Ghana Statistical Service’s figures noted that the continuous increase in food and transport prices across the country has pushed the national…
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NPA allays fears of fuel scarcity in the country
Despite the earlier scare of a likely scarcity of fuel in the country, the National Petroleum Authority is confident that there is enough of the commodity in Ghana. Head of Economic Regulation at the National Petroleum Authority, Abass Ibrahim Tasunti reassured the public that there was sufficient fuel in the country and hence no need…
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Over 120,000 persons reimbursed for wrongful e-levy deductions – GRA
After the initial challenges that fraught the first few days of the implementation of the electronic transfer levy, over 120,000 customers have so far been reimbursed for wrongful deductions. Head of Project Management Unit at the Ghana Revenue Authority Isaac Kobina Amoako stated that “The data we had for those who had a refund on…