The World Bank is providing $100 million to Ghana to assist the country in tackling the COVID-19 pandemic. This $100 million will be made available to the government and the people of Ghana as short, medium and long-term support. This financing package includes $35 million in emergency support to help the country provide improved response …
Finance Minister, Ken Ofori-Atta, says Ghana will record a significant drop in revenue target for 2020 due to the COVID-19 pandemic. He warns that the country is recording a huge decline in revenue from the port, petroleum revenue receipts as well as tax revenue due to economic slowdown being witnessed as the world fights the …
Even as Ghana faces up to the prospect of a sharp drop in economic growth this year due to the impact of the global coronavirus pandemic – the Bank of Ghana projects the economic growth to fall to somewhere between 5.0 percent and 2.5 percent for 2020 – the latest data released by the central …
The Bank of Ghana’s Monetary Policy Committee will today [Wednesday], March 18, 2020, meet to assess the possible impact of the coronavirus pandemic on the domestic economy. This is to enable the regulator take the necessary steps to mitigate its impact and ensure financial and economic stability. In a statement issued on Monday, the Bank …
The Ghana Ports and Harbours Authority on Monday 10th February, 2020 rolled out an electronic toll-payment system. In this light the GPHA has engaged the various transport unions, drivers’ associations, freight forwarders and corporate organisations as well as shipping lines who are involved in the hauling of import cargoes from the port and evacuating of …
The International Monetary Fund (IMF) has advised the Monetary Policy Committee of the Bank of Ghana (BoG) to keep the policy rate tightened as it has done in the last couple of months to prevent the cedi from depreciating. According to the IMF, any further reduction of the current BoG Policy Rate will spell doom …
The Director-General of the Food and Agriculture Organisation (FAO), QU Dongyu, has said that up to 80 per cent of the world’s population in 20 to 30 years will live in cities, a situation that will make urban areas the driving force for the way food systems must evolve, To that end, he said “We …
Economist Dr. Ebo Turkson has downplayed fears of higher than normal inflation rates this year, as the country prepares for a major election at the end of 2020. According to him, the Central Bank is well placed to introduce the needed measures to keep inflation within the target band of 8 plus or minus 2 …
The International Monetary Fund (IMF) has advised government to set a lower medium-term target for inflation in order for the economy to remain competitive among its peers in sub-Saharan Africa. Government maintained its medium-term inflation target of 8±2 in the 2020 Budget, despite a rebasing of the basket in August 2019 that saw inflation drop …
The central bank of Ghana has hinted of government’s plans to borrow almost GH¢20billion through domestic instruments between January and March 2020. The country is working around the clock to raise revenue for expenditure through bills. The bills include a 20-year shelf offering bill subject to re-opening based on investor’s request. “Government plans to issue …