Category: Top Stories
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Economic crisis: 2023 will be our comeback year – Ofori-Atta
The Finance Minister, Ken Ofori-Atta, says the government will put in place stronger foundations in 2023 to change the country’s economy for the better. Mr Ofori-Atta made the comments when he addressed the public on Monday regarding the suspension of the external debt payment. “The ensuing years will focus on building an entrepreneurial and export-driven economy…
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Fast track processes to get IMF Board’s approval on bailout deal – Economist urges
Economist and currency analyst at GC Capital Limited, Courage Boti wants the government to expedite steps aimed at getting International Monetary Fund’s Board approval on the bailout programme. Having reached a Staff Level Agreement with the Fund for a US$ 3 billion bailout, government is eyeing an IMF Board approval in the first quarter of…
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GETFund pays GH¢667M to settle claims of 867 contractors
The Government through the Ghana Education Trust Fund (GETFund) has settled part of outstanding debts owed contractors to the tune of GH¢667,793,936.27 as of November 2022. This was in fulfilment of a promise made by the Administrator of GETFund, Dr. Richard Ampofo Boadu, on Tuesday, November 8, 2022, at the Stakeholder Engagement Forum organised by…
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Vehicle users not changing worn out tyres due to high cost
Some dealers in vehicle tyres and vulcanisers have expressed worry about high import duties on new tyres. According to them, the high import duties have made it impossible for them to acquire materials for their work. ‘Rim 14 car tyre’ increased from GHȻ 70 to GHȻ 150 The dealers in the tyre industry indicated that…
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Domestic debt exchange programme expiration date extended
The expiration date for the Domestic Debt Exchange Programme has been extended to December 30, 2022, the Ministry of Finance has announced. In a press statement issued last Friday (December 16, 2022), the ministry explained that over the last ten days, it continued the consultation efforts that was initiated with all stakeholders ahead of the launching…
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Prudent financial policies stabilising economy – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has attributed the appreciation of the cedi against the dollar to the prudent financial decisions the government has taken to revive the economy. He said the staff-level agreement with the International Monetary Fund (IMF) and the improvement of forex inflows from remittances among others will later yield more positive results…
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AAG pushes for passage of Advertising law
The Advertising Association of Ghana has expressed its disappointment in successive government for failing to pass the Advertising law in the last sixteen years. This according to the Association has made the regulation and standardization of advertising activities in the country very difficult. In her address, the outgoing president of the Association, Mansa Amoa-Awuah however…
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President tasks NLA to flush out minors from gaming and betting space
President Nana Addo Dankwa Akufo -Addo has tasked the National Lottery Authority (NLA) to implement stringent policies on responsible gaming, chiefly to prevent minors and under age persons from patronising games and to help sanitize the lottery and betting space. Furthermore, he directed the Authority to exercise the highest form of integrity and transparency in…
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Dr Sarkodie urges focus on growing GDP to generate more tax revenue
An Economist with the Economics Department of the University of Ghana, Dr Adu Owusu Sarkodie, has advised government to focus attention on growing the nation’s gross domestic product (GDP), if it wants to grow tax revenue. He said that for a middle-income country such as Ghana, the annual tax revenue projection should be about 2.5…
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Ghana’s inflation hits 50.3% for November
Continuous increases in prices of housing, electricity and fuel have pushed Ghana’s inflation rate to hit 50.3% for the month of November 2022. November’s inflation rate is a significant increase from the 40.4% recorded for October 2022. This was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service (GSS) on…