Category: Top Stories
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US will increase investments in Africa to propel growth – Kamala Harris
The United States of America intends to increase investments on the African continent to propel economic growth. This was announced by Vice-President Kamala Harris on her arrival in Ghana as part of a nine-day working visit to the continent. She was in the company of her husband Douglas Emhoff and other top officials in the…
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Ghana’s public debt stock still at ¢575.7bn – BoG data
Recent figures released by the Bank of Ghana indicate that Ghana’s public debt stock still remains constant at ¢575.7 billion at the end of November 2022. By this, Ghana’s total public debt stock increased from about GH¢467.4 billion in September 2022 to about GHC575.7 billion in November 2022. According to the latest Bank of Ghana’s…
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Govt pays additional coupons on matured bonds
Government has made payments to bondholders who chose not to exchange their old bonds for new ones under the domestic debt exchange programme. This is the second tranche paid to bondholders after the government announced a payment plan and date to honour the coupons on matured bonds. After much agitation from the Coalition of Individual…
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Talks with China over $1.7bn debt positive, encouraging – Ofori-Atta
The Finance Minister, Ken Ofori-Atta, has revealed that conversations with China over Ghana’s debt have been positive and encouraging. Ghana’s finance minister, Ken Ofori-Atta travelled to Beijing on Wednesday to meet Chinese officials to discuss a proposed restructuring of Ghana’s debt, according to a source with knowledge of the talks. China on Thursday revealed that…
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China to seek proper resolution with Ghana over $1.7bn debt
China would like to enhance communications with Ghana to seek a proper resolution of Ghana’s debt issue, its foreign ministry said on Thursday, March 23. Spokesperson Wang Wenbin made the remark in response to a question on Ghana’s finance minister visiting Beijing for a proposed restructuring of Ghana’s debt. Ghana’s finance minister Ken Ofori-Atta travelled…
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GSE signs MoU with MIIF to increase listing of mining companies
The Ghana Stock Exchange (GSE) has signed a Memorandum of Understanding (MoU) with Minerals Income Investment Fund (MIIF). This MoU was signed with the view to establish a practical framework for the development of stronger business relations between the two parties and set forth the procedures to create an asset class and promote the trade…
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Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations
The South African High Commissioner to Ghana, Her Excellency Grace Jeanet Mason is urging businesses in Ghana and South Africa to leverage on the African Continental Free Trade Area (AfCFTA) to bolster bilateral and economic relations. She explains that the trade volume between the two countries is about 6 million US Dollars. This she believes…
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Support Ghana’s efforts to restore debt sustainability – IMF to bilateral creditors
The International Monetary Fund (IMF) has called on all bilateral creditors to support Ghana’s efforts to restore debt sustainability, as the country works towards presenting its economic programme for IMF Board approval. Speaking at a news conference in Washington DC, the Director of Communications at the IMF, Julie Kozack, stressed the importance of Ghana securing…
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Consider cocoa pricing in your legislation – COCOBOD CEO to EU
Chief Executive of Ghana Cocoa Board (COCOBOD), Joseph Boahen-Aidoo has reiterated his call on the European Union (EU) to reconsider the element of cocoa pricing in its legislation. According to him, the legislation in its current form cannot sustain the industry and improve incomes of cocoa farmers. Hon Boahen Aidoo made these comments when he…
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Fitch upgrades Ghana’s Long-term local-currency IDR from ‘RD’ to ‘CCC
International rating agency, Fitch, has upgraded Ghana’s Long-Term (LT) Local-Currency (LC) Issuer Default Rating (IDR) to ‘CCC’ from ‘RD’. The issue ratings on local-currency bonds issued domestically that have not matured yet have also been upgraded to ‘CCC’ from ‘D’. Fitch has affirmed Ghana’s Long-Term Foreign-Currency (FC) IDR at ‘RD’. Fitch typically does not assign…