Tag: COVID-19
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Bank of Ghana’s index indicates economic decline due to COVID-19
Data released by the Bank of Ghana indicates that the national economy has experienced a recession since the middle of March 2020 when government began taking measures to contain the spread of the novel Coronavirus. According to the Bank, the national economy contracted by 2.2 percent in March 2020, as compared to a growth of…
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Ghana’s COVID-19 cases hit 5,638 with 1,460 recoveries; 28 deaths
New figures released by the Ghana Health Service show that 108 more people have tested positive for the novel coronavirus. This brings to 5,638 the total number of people who have tested positive for the virus in the country. Four more persons who tested positive for the virus have also died, bringing to 28 the…
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BoG to finance government’s budget with ¢10bn to tackle COVID-19 impact
The Bank of Ghana says it will support the government’s budget with 10 billion cedis to enable it address the economic impact of COVID-19 on the country. This will include an initial amount of 5.5 billion cedis of the COVID-19 relief bond. The Governor of the central bank, Dr. Ernest Addison, disclosed this at a…
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COVID-19: Bayport donates PPE worth GHS100,000 to selected hospitals
As part of efforts to support government in the fight against the COVID-19 pandemic, Bayport Savings and Loans PLC, has donated test kits, Personal Protection Equipment (PPE), toiletries and boxes of water worth GHS100,000 to selected hospitals across Ghana. The hospitals that received the donations include the Ga East Hospital in Kwabenya and the Kumasi…
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COVID-19: Petroleum Commission optimistic of less impact on upstream production
The Chief Executive Officer of the Petroleum Commission Ghana, Egbert Faibille Jnr, has assured the public that the Commission will continue to fulfill its mandate of managing the utilization of the nation’s petroleum resources in spite of the COVID-19 pandemic. Speaking to Citi Business News during the unveiling of new solar-powered hand-washing machines procured by…
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Fuel prices to remain stable for 2nd pricing window in May – IES
The Institute of Energy Security, IES, says consumers should not expect any major change in the prices of fuel at the various pumps from the second pricing window spanning Saturday, May 16 to Sunday, May 31. The energy think tank attributes this to the marginal rise in fuel prices on the global market as well…
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Health investments in Africa now more crucial over budget deficits – IMF Country Rep
The Resident Representative of the International Monetary Fund, IMF, to Ghana, Dr. Albert Touna Mama, has advised leaders of African economies to be inclined towards saving lives and improving the quality of healthcare in the wake of the coronavirus pandemic rather than seeking to contain expenditure to control budget deficits. According to the IMF, seven of…
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Ghana’s coronavirus cases rise to 5,530, recoveries up to 674
Ghana’s novel coronavirus cases have risen to 5,530 with recoveries also rising to 674. The cases have risen by 122 from the previous figure of 5,408. There have been 57 new cases in the Greater Accra Region, 62 new cases in the Ashanti Region, two new cases in the Central Region and one in the…
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Invest GHS18bn into the economy to save jobs – TUC to Gov’t
The Trades Union Congress, TUC, is asking government to inject about 18 billion cedis into the various sectors of the economy to help lessen expected job losses from the impact of the COVID-19 pandemic. According to the TUC, research conducted by its Labour Research and Policy Institute shows the devastating effects of the virus on…
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Ghana must limit commodity dependence to lessen impact of price falls- Economist
A lecturer with the Department of Economics at the University of Ghana Dr. Priscilla Twumasi-Baffour, is urging government to reduce the continued dependence on commodity exports and seek diversification strategies to mitigate the adverse effects of price volatility on the international market post COVID-19. According to her, commodity dependence can negatively affect economic growth and…