Tag: Ghana’s economy
-
Rating agencies haven’t been reckless with economic downgrades – Prof. Bokpin tells govt
Economist, Professor Godfred Bopkin has countered the assertion made by President Akufo-Addo that the consistent downgrades of Ghana’s economy by international credit rating agencies have contributed to the country’s current economic woes. The President has described such downgrades as “reckless” and are not in the best interests of developing countries like Ghana. He added that…
-
TAGG urges members to defy GUTA’s orders to close shops over economic hardships
The Traders Advocacy Group Ghana is urging its members to keep their shops open despite calls by GUTA to the contrary. The Ghana Union of Traders Association (GUTA) asked its members to close their shops on Wednesday in protest of the current economic situation in Ghana. The dollar rate, inflation rate, lending rate and the…
-
Government disappointed by Standard & Poor’s downgrade rating
The government has expressed its disappointment in Standard and Poor’s downgrade of Ghana’s credit rating despite the “bold policies” it implemented in 2022 to address the fiscal challenges confronting the economy. S&P Global Ratings, on Friday, 5th August, downgraded Ghana’s foreign and local currency credit rating from B-/B to CCC+/C with a negative outlook, sighting…
-
Dr. Bawumia’s speech did not address current economic challenges – Economist
Economist, Dr. Patrick Asuming has stated that Vice President Dr. Mahamudu Bawumia’s presentation on the state of the economy on Thursday, did not fully address the current economic challenges Ghanaians are facing. According to him, Dr. Mahamudu Bawumia presentation was uninspiring because it did not offer hope to the ordinary Ghanaian. The speech was necessitated…
-
Bawumia defends govt’s handling of Ghana’s ailing economy
Vice President Dr. Mahamudu Bawumia, has mounted a strong defense for the government’s handling of the Ghanaian economy in light of rising criticisms from stakeholders over the last few years. In a lecture on the state of the economy on Thursday, he maintained the management of the fundamentals of the economy has been successful even…
-
Bawumia blames negative credit ratings, chaotic budget approval, others for cedi’s woes
The Vice President, Dr. Mahamudu Bawumia, has attempted to give reasons for the troubles of the Ghana cedi. The head of the government’s economic management team blamed the woes of the cedi largely on negative credit ratings, challenges in getting the 2022 budget passed, and the refusal of investors to roll over their monies in…
-
Finance Minister outlines seven measures to raise revenue domestically
Finance Minister, Ken Ofori-Atta, has announced some seven measures to raise revenue domestically as part of efforts to address the current economic challenges. According to him, cutting down on expenditures alone will not be enough to revive the ailing economy and that the government’s focus is two-fold: to control expenditure and to raise more revenues…
-
Gov’t slashes fuel coupons for appointees by 50%
Government appointees will have to endure a reduction in their fuel coupons as the government initiates steps to cut down on its expenditure. The Minister of Finance, Ken Ofori-Atta in his address to the nation on Thursday, March 24, 2022, announced a 50% decrease in the fuel allocations for government appointees. “These times call for…
-
Fuel prices reduced by 15 pesewas per litre effective April 1
Fuel prices in Ghana will go down by 15 pesewas per litre effective April 1, 2022. This reduction will be in place for three months. This was disclosed by the Minister of Finance, Ken Ofori-Atta, on Thursday, March 24, 2022, while announcing measures put in place by the government to cushion Ghanaians against current economic…
-
Gov’t, stakeholders to meet over possible fuel price cuts – Oppong Nkrumah
Fuel consumers in Ghana may soon experience some relief with regard to the skyrocketing prices of petroleum products as the government seeks to engage with various stakeholders on possible cuts in some margins and levies on the price build-up. Information Minister, Kojo Oppong Nkrumah, who made the announcement at the Citi Breakfast on Monday said…