Tag: Government
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Prudent financial policies stabilising economy – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has attributed the appreciation of the cedi against the dollar to the prudent financial decisions the government has taken to revive the economy. He said the staff-level agreement with the International Monetary Fund (IMF) and the improvement of forex inflows from remittances among others will later yield more positive results…
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Local contractors to drag government to court over 10 billion debt
The Ghana Chamber of Construction Industry has threatened to take legal action against government, for failing to pay over 10 billion cedis accrued debt it owes contractors. The contractors lament that for over four years now, government has stalled in paying contractors for work done. A situation they say is having a negative toll on…
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Gov’t fees and charges to go up 15% after parliamentary approval
Parliament has approved the Fees and Charges Miscellaneous Provisions Bill 2022. The approval gives legal backing to the request for a 15 percent increment on the cost of government fees and charges. During the second reading stage of the bill, a deputy Minister for Finance, Abena Osei Asare, indicated that the increment is to ensure…
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Ghana’s worsening debt situation forced gov’t to IMF – Bawumia
Vice President, Dr. Mahamudu Bawumia has explained why the government is seeking financial assistance from the International Monetary Fund (IMF) despite earlier claims that the economy was buoyant. Speaking at the launch of two new high-level information technology programmes at Accra Business School at Baatson in Accra, Dr. Bawumia explained that apart from the Covid-19…
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Seth Terkper cautions government against defaulting on debt repayment
Former Finance Minister, Seth Terkper has warned that the worst thing that could happen to Ghana at this point as the economy strives to rebound will be to default on debt repayments. The remarks were made as part of a dialogue on the state of the Ghanaian economy hosted by the former Finance Minister, on…
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Balance developmental spending and debt accumulation – IMF to Ghana Government
The International Monetary Fund (IMF) says it is more important now than ever, that Ghana balances its developmental spending needs against the rate of debt accumulation by the country. Ghana’s debt to GDP ratio crossed the dreaded 70% threshold back in September 2020 and is expected to hit 81.5% by the end of this year…
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Review fuel subsidy to benefit target group or scrap it – Fmr. Goil MD
A former Managing Director of Goil, Patrick Akorli, is pushing for the scrapping of subsidies on petroleum products. He argues that the impact of subsidies has not reached the targeted beneficiaries. Speaking at the launch of the Petroleum Product Marking Scheme by the National Petroleum Authority to trace quantities of petroleum products at all operational…
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Ghana Statistical Service outlines 5-year plan to boost data collection
The Ghana Statistical Service has launched a 5-year Corporate Plan for 2020 to 2024, to ensure efficient collection, production, management and dissemination of quality official statistics and data required for the development of relevant national policies. According to the Ghana Statistical Service, the goal is to ensure that all results are produced to meet international…
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Road contractors give gov’t up to January 1 to pay arrears
Road Contractors have given government an ultimatum to pay arrears owed them before 1st January 2020 or face their wrath. They have accused government of not fulfilling earlier promises to pay them. The contractors say all attempts to get the government to pay them their outstanding arrears have not been successful. Chief Executive Officer of…
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Kinross Chirano Gold Mines pays $5m in dividends to gov’t
Kinross Chirano Gold Mines Limited, a subsidiary of Kinross Gold Corporation in the Western Region, has declared its dividend for the fiscal year 2018 to its shareholders, following a strong 2018 operational performance. The government of Ghana, which has a 10% carried interest in the company, was paid a $5 million dividend on December 23,…