BUSINESS

The Sovereign credit rating downgrades of Ghana by Fitch and Moody’s led to “widened yield spreads on both cedi-denominated government of Ghana bonds and the country’s Eurobonds”, the Bank of Ghana has said. “These downgrades reflect market and investor concerns about fiscal and debt sustainability”, Governor Ernest Addison told journalists …

The Sekondi-Takoradi branch of the Ghana Online Drivers Association (GODA) has urged service providers to reduce their commission charges per trip on online drivers. According to them if the service providers reduce their percentage on charges, it would not affect both the providers and driver, “You won’t make losses if …

Economist Yaw Modey has called on President Nana Addo Dankwa Akufo-Addo to sack Finance Minister Ken Ofori-Atta for recording the lowest Gross Domestic Product (GDP) in the past 35 years in the history of the country’s economic management. According to the economist, Mr Ofori-Atta has mismanaged the economy so much that he does …

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 250 basis points from 14.5% to 17%. This comes after the Committee of the Bank of Ghana, held its 105th meeting from Wednesday, March 16, to Friday, March 18, 2022, to review economic developments of the …

The International Monetary Fund (IMF) has noted that global food prices were at record highs before the war in Ukraine. The IMF said the Russia-Ukraine conflict will further increase costs and inflation more broadly. Since the outbreak of the warfare between Russia and Ukraine, prices of commodities especially, crude oil …

An economist has called on Ghanaians to vehemently reject any attempt by the government to seek the assistance of the International Monetary Fund (IMF) in the wake of Ghana’s collapsing economy. According to Mr Yaw Modey, another IMF policy will not serve the interest of the ordinary Ghanaian. He argued …

Businessman and politician, Dr Papa Kwesi Nduom has said that his bank, GN Bank, that was collapsed during the banking sector cleanup exercise in 2019, should be brought back. In a Facebook post on Saturday March 19, he said “Indigenous, Home Grown Product.#Bring Back GN Bank…The People’s Bank!.” During the …

Kenya said Thursday it was investigating allegations that thousands of donated condoms, mosquito nets and life-saving medicines were stolen from a government-run warehouse and then sold on the black market. The items were donated by the Geneva-based aid body Global Fund which has disbursed over $1.4 billion to Kenya since …

Finance Minister Ken Ofori-Atta is expected to brief Parliament on various steps the government is taking to address challenges facing the economy. Currently, President Nana Addo Dankwa Akufo-Addo is chairing a crunch meeting with his ministers, MPs, as well as members of the governing NPP to find solutions to the challenges facing the country at the …

The Presidency has debunked media reportage that the government will be considering an IMF bailout as President Nana Addo Dankwa Akufo-Addo chairs a cabinet retreat that started on Thursday, March 17 and is expected to end on Sunday, March 20, 2022. Ghana is currently faced with economic difficulties that have necessitated a …