Category: Top Stories
-
Offload non-performing SOEs to private sector — Dr Sam Ankrah
The time has come for the government to offload non-performing State-Owned Enterprises (SOEs) which continue to be a drain on state coffers or are consistently unable to pay dividends, a Development Economist, Dr Sam Ankrah, has proposed. He mentioned for instance the Tema Oil Refinery (TOR), State Housing Company among many others which had to…
-
Develop national strategy for soyabean — Industry actors
ACTORS in the soya value chain have called for a collaborative approach to develop a national strategy that can transform soyabean into a profitable cash crop such as cocoa. That, they said, would empower the government to use the commodity to access syndicated loans in order to accelerate the development of the value chain. Instead…
-
Ofori-Atta: $3bn IMF deal will help tackle inflation, strengthen cedi
The Finance Minister, Ken Ofori-Atta, has hailed the Staff-level Agreement with the International Monetary Fund for a new three-year arrangement under the Extended Credit Facility (ECF) of about US$3 billion. The agreement was reached after several months of talks between Ghanaian government officials and authorities of the IMF. Addressing Journalists at a press conference on…
-
$3bn IMF bailout: Ghana to receive 1st tranche by 2023 first quarter
The Finance Minister, Ken Ofori-Atta, has expressed confidence that Ghana will receive the first tranche of about $3 billion from the International Monetary Fund (IMF) by the first quarter of 2023. According to the Minister, key fiscal measures, structural reforms, and the medium-term macro-fiscal framework in the 2023 Budget are aligned with the IMF-supported Programme.…
-
IMF reaches $3bn agreement with Ghana
The International Monetary Fund (IMF) has reached a staff-level agreement with Ghana on economic policies and reforms to be supported by a new three-year arrangement under the Extended Credit Facility (ECF) of about US$3 billion. According to the IMF, the authorities’ strong reform program aimed at restoring macroeconomic stability and debt sustainability while protecting the…
-
Economic enclave project promises 195,000 agric jobs — Ofori- Atta
The launch of the Economic Enclave Project (EEP) to cultivate 110,000 acres of land in seven regions sets the tone for a new journey of youth engagement in commercial agriculture. Under the programme, government will provide support such as clearing and development of land and facilitate access to credit, including the recently approved GH₵500 million…
-
Financial sector gets GH₵15bn to address liquidity under Debt Exchange Program
The size of Ghana Financial Stability Fund (GFSF) being established by government with the support of development partners is worth GH₵15 billion. Encouraging full participation of financial institutions This is to support and encourage full participation of financial institutions in the voluntary debt exchange programme. GH₵137bn notes and bonds The Fund will provide liquidity to…
-
I’m ready to offer my expertise for free to solve Ghana’s economic woes – Dr. Duffuor
A former Minister of Finance, Dr. Kwabena Duffuor says he’s ready to offer his expertise on macroeconomics free of charge to help Ghana’s ailing economy to bounce back. He said he will jump on the request anytime the government calls him to offer voluntary services that will bring relief to Ghanaians. “I am ready to…
-
Togbe Afede writes: Our Self-inflicted monumental economic crisis
About six weeks ago I was in New York, and for the first time in almost three decades, I struggled to sell the economic credentials of my country. When we were approaching the runway at Kotoka International Airport, at the end of my return journey, I looked outside from my window seat, and my joy about…
-
Cedi now world best performing currency – Bloomberg
Last week, the Ghanaian Cedi was recorded as the best performing currency in the world. This short burst of positive momentum is as a result of Ghana’s plan to reorganize its local debts. Read the story here. This report is courtesy of Bloomberg which revealed that the rise in currency value is coming alongside optimism of realizing the…