Tag: COVID-19
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Collaborative support needed to reset Ghana’s post COVID-19 economy – First Deputy Governor
The First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari has stated that resetting Ghana’s economy back to resilience would be a gradual process over the next two or three years. According to him, this would require the collective and collaborative support, of both the private and public sectors. Outlining some short-term strategies…
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Restoration of economic stability still on course – Dr. Bawumia
Vice President Dr. Mahamudu Bawumia has stated that the Akufo-Addo government is largely succeeding in restoring macroeconomic stability through digitisation. According to him, the government’s digitization agenda in areas such as land administration and integration of the nation’s database, plus the revision of interest rates are some of the interventions adopted to recover the economy.…
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IMF commends Ghana for effectively managing COVID-19 pandemic
The International Monetary Fund (IMF), says Ghana has effectively managed the COVID-19 pandemic. The commendation was contained in a statement after a team led by Carlo Sdralevich paid an official visit to Ghana. The team had discussions with Vice President, Dr. Mahamudu Bawumia, Finance Minister, Ken Ofori-Atta, Governor of the Bank of Ghana, Ernest Addison,…
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Can fortified foods hold the key to whole family immunity & nutrition amidst COVID-19
When was the last time you stopped at your favorite supermarket or corner store to carefully read the contents and ingredients of the food you buy? Be it rice, milk, wheat, yoghurt or even that occasional ice cream treat? One way to lead a healthy lifestyle is to eat food that provides optimum nutrition and…
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Profits of leading banks increased in 2020 despite COVID-19 outbreak
Data from the financial statements of some leading banks in the country for the year ended 2020, shows increases in profits for some and some declines for others. This can be gleaned from the Summary Statements of Comprehensive Incomes of 10 of Ghana’s top banks during a year in which COVID-19 ravaged all aspects of…
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Ghana records $2.6 billion in FDI for 2020 despite impact of COVID-19
The value of Foreign Direct Investments (FDI) inflows into the country increased to 2.6 million dollars in 2020 from the 1.1 million dollars recorded in 2019. This represents an increase of 139.06 percent of the total US$1,108.93 million FDI the country recorded in 2019. This is according to the latest data from the Ghana Investment…
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Ghana’s debt stock rises to over GHS291 billion
Ghana’s debt stock has hit GHS291.6 billion as of December 2020. This was disclosed on Friday, March 12, 2021, by the Minister for Parliamentary Affairs and caretaker Minister for Finance, Osei Kyei-Mensah-Bonsu. “The total public debt has increased from GHS122 billion, which is 69% of GDP to GHS291.6 billion, which is 76.1% of GDP, as…
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Ghanaians share their expectations ahead of budget reading
Government had big plans for the 2020 fiscal year when it delivered the budget in November 2019. The fiscal year was tagged the ‘Year of roads’. This was an indication of how heavy it was going to be on infrastructure, particularly roads. However, the emergence of COVID-19 in 2020 greatly affected government’s revenue and expenditure.…
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Economy to rebound strongly as GDP growth nears 5% – Akufo-Addo
President Akufo-Addo says Ghana is expected to have a GDP growth rate of about 5 percent following a year affected by the COVID-19 pandemic. Speaking during his State of the Nation address, President Akufo-Addo said this growth rate would beat observer projections. This is in line with the 4.9 percent growth projection made by the…
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COVID-19: Business owners urged to be measured in reducing employee numbers
National Project Coordinator for Sustaining Competitive and Responsible Enterprises (SCORE), a project under the International Labour Organisation, ILO has stated that reducing the number of employees in the current economic environment, as part of measures to control the negative impact of COVID-19 on businesses, is not the best decision for business owners. According to him,…