Tag: COVID-19
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S&P revises Ghana’s rating to ‘CCC+/C’, outlook negative
Ratings agency, S&P Global Ratings, has revised Ghana’s rating from B-/B to CCC+/C. In a statement issued on Friday August 5, 2022, the global ratings agency, said though government has taken steps toward consolidating the fiscal deficit, including the recent passage of the Exemptions bill, high borrowing costs and softening growth make it difficult to…
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Panelists at US-Ghana Alumni programme discuss socio-economic prospects amidst the COVID-19 pandemic
Government has been urged to do more to tackle the devastating social and economic dimensions of this COVID-19 pandemic, with a focus on the most affected: women, the youth, low-wage workers, small and medium enterprises among others. This is according to the panelists at the maiden U.S.-Ghana Alumni Association (USGHAA) stakeholder forum on socioeconomic prospects…
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Household incomes reducing at record levels post-COVID – GSS
Ghanaians across the country continue to record reductions in household incomes, while the cost of items such as food continues to be on the rise. This is according to a report by the Ghana Statistical Service dubbed COVID-19 households and job tracker survey 2021. The survey sampled views from a total of 7,999 households across…
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Kotoka Airport: Airlines to pay $3,500 on each unvaccinated passenger they bring in
As the omicron variant of covid-19 threatens to erode gains made in the fight against the pandemic, Ghana’s health authorities and the Aviation Authority, have issued strict guidelines to airlines flying passengers into the country. In a statement announcing new plans to guard against another wave of COVID-19 infections, the authorities said effective Tuesday, December…
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Ghana lost about GH¢200 million in sales in 2020 due to COVID-19 – Study
Ghana recorded about GH¢200 million dip in sales, representing 61 percent from May to September 2020 as a result of COVID-19, a joint study conducted by the UNDP, World Bank and Ghana Statistical Service and a business tracker study has revealed. Professor Kwesi Amponsah-Tawiah, from the University of Ghana Business School, made this known, during the…
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Government urged to create regulatory framework to ensure success of vaccine production
Ghana’s vaccine production efforts will not be successful if it does not create a favourable regulatory environment to enable it deliver safe and effective vaccines within the African sub-region. This is according to the President and Founder of Mpedigree, Bright Simons. President Nana Akufo-Addo, during his 26th update on measures taken to reduce the rising…
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Ghana’s economic outlook improving but with significant uncertainty – IMF
Despite Ghana’s gradual recovery from the COVID-19 shocks, the economy is still facing some significant uncertainty, including new pandemic waves and risks associated with large financing needs and increasing public debt. This is according to the concluding statement of the International Monetary Fund’s Executive Board following the end of Article IV Consultation with Ghana. According…
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Ghana signs $200M loan agreement with World Bank to aid vaccination programme
The Government of Ghana has signed an additional $200 million loan agreement with the World Bank to help the vaccination process. This is the second tranche of funds that government is receiving from the World Bank for the management of the pandemic. Addressing the media after signing the agreement, Finance Minister, Ken Ofori-Atta said the…
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World Bank financing for COVID-19 vaccine rollout exceeds $4 billion
The World Bank announced today, June 30, 2021, that it is providing over $4 billion for the purchase and deployment of COVID-19 vaccines for 51 developing countries, half of which are in Africa. More than half of the financing comes from the International Development Association (IDA), the Bank’s fund for the world’s poorest countries, and…
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COVID-19 affected upstream oil and gas sector in 2020 – PIAC
The Public Interest and Accountability Committee (PIAC) says the outbreak of the COVID-19 pandemic and its associated shocks on the economy and major industry actors proved challenging to upstream oil and gas operations in 2020 compared with 2019. PIAC said the outbreak and effect of the COVID-19 pandemic brought some uncertainties in the global upstream…