BUSINESS

The government’s programme of subsidizing electricity consumption for the next three months is estimated to cost 60 million Ghana cedis, Deputy Minister for Energy, William Owuraku Aidoo has disclosed. President Akufo-Addo in April this year announced the reduction of electricity tariffs by half and provision of potable water for free …

A former Deputy Minister of Finance Casiel Ato Forson, has said the mid-year budget statement presented to parliament on Thursday July 23 by Finance Minister Ken Ofori-Atta is disappointing. He said there is nothing good in the budget for the ordinary Ghanaians. “I am disappointed as a Ghanaian and I am disappointed …

Markets and lorry parks in the Ahafo Region on Thursday had their turn of the on-going second nationwide disinfection, fumigation and clean-up exercise, aimed at curbing the spread of the novel coronavirus disease of 2019 (COVID-19) epidemic in the region, and the country as a whole.   In all, a …

Finance Minister Ken Ofori-Atta will Thursday morning be in Parliament to present the Mid-year and Supplementary Budget Review. On July 15, he presented the draft statement to the Cabinet for approval. Joy Business understands Cabinet meeting made a number of suggested changes to the draft statement for the Finance Minister …

Former Finance Minister, Seth Terkper has alleged that the government’s continuous borrowing from international firms is to fund the upcoming December polls. According to him, despite the government’s efforts to fight against the global pandemic – coronavirus- they need to focus on cutting down their expenditure. This, he says, when done will …

The Economist Intelligence Unit (EIU) has hailed government’s industrialisation drive under its flagship One District One Factory intiative, as well as the banking sector clean up. In the EIU’s latest country report on Ghana in which it partly analysed the impact of the Coronavirus pandemic on the Ghanaian economy and …

CRISIS TO RECOVERY STRENGTHENING ECONOMIC INSTITUTIONS IN SUB-SAHARAN AFRICA DURING COVID-19 SPEAKING NOTES FOR IMF WEBINAR DR. MAXWELL OPOKU-AFARI, FIRST DEPUTY GOVERNOR, BANK OF GHANA JULY 22, 2020 1. Introduction The global economy is going through extraordinary times, requiring even more exceptional responses. Policy response has been swift and decisive in …

The world may soon return to an international gold standard thanks to a project that European central banks have been quietly preparing for decades. This month Seeking Alpha reported that “since the 1970s, policies that paved the way for an equitable and durable monetary system have gradually been implemented,” leading us closer …

The further weakening of the Ghanaian Cedi against the U.S. dollar will worsen the impact of coronavirus pandemic, the International Monetary Fund has said. Since late February 2020, the Cedi has consistently depreciated against the dollar by -2.46 percent, year to date, and -7.34 percent year-on-year. The IMF in its …

Delays in payment of outstanding salaries and severance packages to former workers of defunct microfinance, savings and loans and finance house and microcredit companies is due to unavailability and access to employee data for verification and computation of exit packages. This is according to a document sighted by the Ghanaian …