Tag: COVID-19
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Ghana returns Accra-bound BA flight seeking to evacuate people to UK
As Ghana intensifies its ban on travels in and out of the country’s borders to prevent the spread of the coronavirus, a British Airways bound flight to Ghana, was on Monday, March 23, returned to the UK despite an initial permission for the British High Commission to evacuate over 300 people mostly UK nationals from…
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Gov’t appeals to telcos to waive cost of accessing online educational materials
The Ministry of Education has appealed to telcos operating in the country to waive all charges on educational content for students as government plans to roll out a virtual learning platform due to the COVID-19 pandemic that has led to the closure of schools. President Akufo-Addo directed schools in the country to shut down for…
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COVID-19 impact: Control borrowing options to bridge revenue gap – Economist to gov’t
Economist, Dr. Adu Owusu Sarkodie, has advised government to be measured in its borrowing in a bid to mitigate the likely impact of the coronavirus on Ghana’s economy. The Finance Minister, Ken Ofori-Atta, has indicated that government will resort to various measures such as the use of money from the stabilization fund as well as…
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Reduced policy rate must reflect on banks’ lending rates – Businesses insist
Businesses that have been impacted by the COVID-19 pandemic in Ghana are urging the Bank of Ghana to ensure that commercial banks revise their lending rates to reflect the reduction in the policy rate. According to them, this will enable them bridge the shortfall in the supply of some goods in the wake of the…
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Lockdown in Ghana will hit informal sector hard; subsidies may be needed – Dr. Sarkodie
An economist, Dr. Adu Owusu Sarkodie, has stated that majority of Ghanaians who work in the informal sector will be impacted heavily should government order a lockdown as a stern measure to contain the spread of the coronavirus. Following the steady increase in the number of recorded cases of COVID-19 in Ghana, there have been…
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Data usage rises as COVID-19 forces more people to stay at home – MTN Ghana CEO
The Chief Executive Officer of MTN Ghana, Selorm Adadevoh, says data consumption in Ghana has gone up by about 20 percent after the country recorded cases of the coronavirus outbreak. Following the pandemic, government has closed down all schools and banned public gatherings including religious activities, while several organizations have asked their staff to work…
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BoG to sanction banks, other SDIs for misuse of incentives amidst COVID-19 pandemic
The Bank of Ghana has served notice that it will not fail to sanction banks and other Specialized Deposit Taking Institutions (SDIs) that fail to efficiently utilize its interventions to increase their liquidity to contain the impact of the coronavirus pandemic. At the recently concluded MPC meeting, the central bank announced some major reviews to…
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Implement a lockdown if necessary to curb COVID-19 spread- TUC tells Gov’t
The Trades Union Congress, TUC, has called on government to implement “more aggressive measures” to curb the continuous spread of the novel coronavirus in the country. According to the TUC, government should implement a total lock-down if need be. A lockdown is a state of isolation or restricted access instituted as a security measure in…
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Reduced policy rate must reflect in banks’ lending rate – Prof. Assibey
Economist, Professor Eric Osei Assibey, says banks must ensure that the reduction in the policy rate must impact the cost of credit to enable local manufacturers bridge the shortfall in the supply of some goods in the wake of the coronavirus pandemic. The Monetary Policy Committee (MPC) of the Bank of Ghana has reduced its…
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Ghana Stock Exchange takes steps against likely impact of COVID-19
Head of Marketing and Public Relations at the Ghana Stock Exchange (GSE), Diana Okine, says the local bourse has already cancelled emergency discussions with relevant stakeholders and potential investors, as part of moves to contain the spread of COVID-19. The disease has killed more than 12,000 globally, out of over 290,000 cases. Speaking to Citi…