Category: Top Stories
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Traders in Kumasi express concern as new taxes kick in
Some traders in the Kumasi metropolis say trading activities are picking up slowly days after new taxes came into effect. The traders insist the introduction of the new taxes will further increase the cost of doing business. Traders who sell beverages and bottled water are accusing some wholesalers of intentionally creating artificial shortages of some…
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Ghana on course to secure IMF deal soon – John Kumah assures
The government has expressed hope of securing the Paris Club financing assurances within the shortest possible time to enable the 3 billion dollar support from the International Monetary Fund. This follows the government’s engagement with bilateral and multilateral partners at the recent IMF and World Bank Spring meetings in America. Addressing the media in Parliament,…
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Give Saglemi housing project to workers – Organised Labour
Organised Labour has called on the government to consider offering the Saglemi Housing project to workers to address their accommodation needs. The government in November 2022 announced plans to wash its hands off the Saglemi housing project to allow a private developer to refurbish the housing units and sell them to potential owners. Sector Minister,…
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Ghana Digital Acceleration Project: Parliament approves $200M loan
Parliament has approved a loan agreement between the government and the World Bank for an amount of $200 million to finance the Ghana Digital Acceleration Project. The house also approved an amount of one hundred and fifty million dollars $150 million for the financing of the West Africa Food System Resilience Programme phase 2 under…
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Ghana’s current account deficit to narrow to 1.9% in 2023 – EIU predicts
Economist Intelligence Unit predicts Ghana’s current account deficit to narrow to 1.9% of GDP in 2023 and further to 1.1% in 2024 due to a decrease in fuel import prices and strict import regulations. However, the deficit is expected to widen to 2.7% in 2027 as the primary income deficit grows. “Although export earnings from…
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Fuel prices may remain unchanged despite cedi depreciation – IES
Despite the reduction in global prices of finished petroleum products, the prices of such products in Ghana may remain unchanged for the next two weeks. This is due to the recent decline in the value of the Ghana cedi against the US dollar, which may offset the expected reduction in fuel prices. The Institute for…
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Inflation to end 2023 at an average 38.1% – EIU
The Economist Intelligence Unit (EIU) predicts that despite a slowdown in monthly inflation over most of the period, inflation will average 38.1% by the end of the year. This is due to upward domestic price pressures, including the introduction of new taxes such as the Value Added Tax (VAT) rate and excise duties, as well…
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Parliament approves $200m loan facility from World Bank
Parliament has approved a loan agreement between the government and the World Bank for an amount of $200 million to finance the Ghana Digital Acceleration Project. The House also approved an amount of $150 million dollars for the financing of the West Africa Food System Resilience Programme phase 2 under the Multi-phase programmatic approach. It…
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We’re doing everything possible to resolve economic crisis – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has assured that his government is working tirelessly to deal with the current economic mess. Addressing workers during this year’s May Day celebration in Bolgatanga, the President said his government is assiduously engaging the International Monetary Fund (IMF) to secure board approval for Ghana’s $3 billion bailout request to bring…
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Increasing Ghana’s Oil and Gas reserves is my priority – GNPC CEO
Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC) Opoku-Ahweneeh Danquah has said, he remains committed in building and sustaining a robust state petroleum entity and won’t be distracted by few dissenting elements within the system. His statement was in a response to a question that he was asked regarding a series of alleged…