Former Finance Minister, Seth Terkper, has said the Government of Ghana’s borrowing would have been larger, putting even more pressure on credit and interest rates in 2020. But, he noted that, the BoG “bailed out” the government’s budget with GHc10b, equivalent to $1.7bn financing of the deficit. He said over spending by the Ministry of […]
BANK OF Ghana (BoG) has floored Switch System Limited at a tribunal constituted under the auspices of the London International Court of Arbitration (LCIA). The international court granted a ruling in favour of the Bank of Ghana by dismissing all claims brought by Sibton Switch Systems Limited in relation to the termination of the master […]
The Monetary Policy Committee of the Bank of Ghana (BoG) has maintained the policy rate at 13.5% Addressing a press conference after the MPC meeting Monday, the Governor of the Bank of Ghana, Dr Ernest Addison said “… the committee assessed that the risks to inflation and growth were broadly balanced and decided to keep the policy […]
Member of Parliament for Ajumako Enyam Essiam Constituency and Minority Ranking Member on the Finance Committee of Parliament, Dr Cassiel Ato Forson, says Ghana could fail to meet its debt service obligations if urgent steps are not taken to seek debt relief from its lenders. Dr Forson said available figures showed that up to 87% […]
The opposition National Democratic Congress (NDC) has accused the Akufo-Addo of mismanaging the Ghanaian economy. “It is now beyond debate, based on the data presented, that the Akufo-Addo/Bawumia government has completely mismanaged the Ghanaian economy and lost control of key economic indices. “Political considerations are preventing the Akufo-Addo/Bawumia government from taking vital remedial measures to […]
The Minister for Finance, Ken Ofori-Atta, has requested for more time from Parliament to provide a response to the urgent question on the cost of President Akufo-Addo’s recent trips to France, Belgium, and South Africa, despite being notified over two weeks ago. The Finance Minister was scheduled to answer the said question on Thursday after […]
The Secretary General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, says the African continent needs to industrialize to be able to create jobs for its people, especially the job. He made the call while making a presentation at a Honorific Public Lecture organized by the University of Professional Studies, Accra. Speaking under […]
The Minister of Finance, Mr Ken Ofori-Atta, has commenced a series of engagement with the youth across the country aimed at igniting an entrepreneurial spirit for accelerated job creation and financial independence for the nation’s youth. The Ghana CARES programme has been designed to stimulate economic growth through increased investment in selected sectors, including agriculture, […]
A legal action by the Attorney General (AG) has saved the state from paying more than GH¢1.2 billion in judgment debt which was being claimed by NDK Financial Services. The company went to court compel the government to pay GH¢1.273 billion it claimed was outstanding balance and interests on a judgment debt. Instead, the financial […]
Ghanaian businessman, Dr. Kofi Amoah has expressed doubt that Ghana’s economy will be able to grow exponentially, owing to the country’s excessive borrowing and the poor management of borrowed funds. According to him, the nature of successive governments’ handling of borrowed funds leaves the country in a more distressing situation when it could have found […]
