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GRA sets May 1, 2023 as implementation date for 3 key tax measures

The Ghana Revenue Authority has set May 1, 2023 as implementation date for the new and revised taxes announced in the 2023 Budget. The implementation...

Akufo-Addo appeals for concessionary loans from World Bank, IMF

Ghana has appealed to the World Bank and the International Monetary Fund (IMF) for concessionary loans to revive the economy as private sector funding...

Fitch downgrades Ghana’s long-term local currency to RD

Fitch Ratings has lowered the Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) of the nation to restricted default (RD) from ‘CCC’. This action was taken...

Top banks in Ghana post first loss as nation restructures debt

Ghana’s move to restructure its local-currency and overseas debt has resulted in the first loss on record for two of the West African nation’s...

22% of wage bill in wrong pockets – FWSC

The Fair Wages and Salaries Commission (FWSC) has disclosed that preliminary monitoring report on 58 institutions has estimated that about 22 per cent of...

Economy set for 2nd slowdown: Revenues, jobs at stake, economist calls for review of targets

The economy is set for a slowdown again this year after failing to grow as expected in 2022. Growth slowed down to 3.1 per cent...

Ghana’s reserves almost empty; to end 2023 at nearly 3 weeks of import cover – IMF

Ghana’s net international reserves will end 2023 at nearly three weeks of import cover (0.8 month), the 2023 International Monetary Fund Regional Economic Outlook...

I believe most of us do not pay taxes – Ofori-Atta on new tax measures

Finance Minister, Ken Ofori-Atta, says concerns that the government is burdening businesses with excess taxes are misplaced. According to him, “I believe most of us...

Covid-19 and Russia/Ukraine war are not only contributors to Ghana’s economic woes – Fitch Solutions

Fitch Solutions has dismissed the view that Ghana’s economic woes is largely due to the Covid-19 pandemic and the Russian/Ukraine war. According to the research...

Mobile money exceeds industry expectations, reaching transaction value of $1.26 trillion in 2022

Mobile money services are growing faster than predicted around the globe, as digital services continue to rise in popularity, according to the GSMA’s annual...

GRA sets April as month of tax and good governance

The Ghana Revenue Authority (GRA) has designated April as the month for extensive education on tax payment procedures and good governance. The GRA aims to...

GUTA demands retraction, apology from ‘ignorant’ Joseph Osei-Owusu

The Ghana Union of Traders Association (GUTA) has issued a statement demanding an apology from the First Deputy Speaker of Parliament, Joe Osei-Owusu. According to...

GTPCWCU angry at government’s neglect, impending collapse of TOR

The General Transport, Petroleum & Chemical Workers Union (GTPCWU) of the Trades Union Congress (TUC) has bared its teeth at the government for its...

Govt’s latest debt exchange programme technically sound – Senyo Hosi

Convenor of the Individual Bondholders Forum, Senyo Hosi, has described the policy document of the government’s second round of debt exchange programme as a...

Akufo-Addo has failed us – Importers and Exporters Association

Executive Secretary of Importers and Exporters Association, Sampson Asaki Awingobit has expressed his disappointment in President Nana Akufo-Addo for passing the three new tax...

Cedi to exhibit mixed performance against dollar this week

The Ghana cedi is expected to exhibit mixed performance against the US dollar for the second week running. This is because of the uncertainty characterising...

We’ve broken all records regarding IMF requirements for bailout – Ofori-Atta

The Minister of Finance, Ken Ofori-Atta has expressed optimism about the country’s progress in the pursuit of an International Monetary Fund (IMF) programme. According to...

World Bank has committed $250m to Ghana Financial Stability Fund – Finance Minister

Finance Minister, Ken Ofori-Atta has said that the World Bank has committed $250 million to Ghana’s Financial Stability Fund. According to him, the fund is...

Fuel prices go up; petrol now ¢12.99 – ¢13.10 per litre

Prices of petroleum products have shot up at the pumps this Monday April 17, 2023. This is the first increase since the introduction of the...

GNPC boss addresses challenge with Africa’s energy strategy; calls for greater synergy

The Ghana National Petroleum Corporation (GNPC) CEO has called for concerted action by African states for the development of an African strategy to meet...

JoyNews’ investigation reveals PBC risks possible collapse

JoyNews’ investigations have revealed how the country’s biggest indigenous cocoa-buying company, PBC, risks a possible collapse following its steep decline in market share from...

Aker Energy submits Deepwater Tano/Cape Three Points Plan of Dev’t to Energy Minister

Aker Energy, the operator of the Deepwater Tano/Cape Three Points (DWT/CTP) block offshore Ghana has submitted a Plan of Development (PoD) to government today...

We must support Ghana, it has sound macroeconomic management track record  – IMF boss

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has urged Ghana’s creditors to support the country, saying, Ghana has a track...

PBC Troubles: JoyNews explores factors accounting for steep decline in revenue

It’s a tale of uncertainty among staff of Ghana’s biggest indigenous cocoa-buying company, PBC Limited, as the company continues to post huge revenue losses. According...

No second round of DDEP – Ofori-Atta assures

Finance Minister, Ken Ofori-Atta has ruled out any move to conduct another round of the Domestic Debt Exchange Programme (DDEP) targeted at pension funds....

Prices of petrol to go up by 2%, diesel to drop by -5.58% – COPEC

The Chamber of Petroleum Consumers (COPEC) is predicting a 2.01% increase in the price of petrol at the retail pumps from 16th April 2023. COPEC...

$1 now sells for ¢12, as dollar demand reemerges  

Demand for dollar has resurfaced as one dollar is now selling at ¢12 today April 14, 2023, in the retail or forex market. The local...

We expect an IMF programme by close of May 2023 – Ofori-Atta

Finance Minister, Ken Ofori-Atta, says Ghana should expect an International Monetary Fund (IMF) Board approval for a programme by the close of May 2023. According...

We will move swiftly to approve Ghana’s IMF programme – IMF MD assures

The Managing Director of the International Monetary Fund, Kristalina Georgieva, has given the Fund’s firm assurance that it will act swiftly to approve Ghana’s...

Transport fares yet to reflect inflation drop – Government Statistician

Government Statistician, Professor Samuel Kobina Anim, has hinted that the continuous drop in the prices of petroleum products and other goods and services are...

Ghana’s Debt-to-GDP to reach 98.7% by end of 2023 – IMF

The International Monetary Fund (IMF) is projecting that Ghana’s Debt to GDP Ratio will increase further to 98.7% by the end of 2023.  This was...

GUTA urges traders to adjust prices

The Ghana Union of Traders Associations (GUTA) has urged all members to adjust prices following the fall in inflation. The Ghana Statistical Service (GSS) on...

Supply disruptions caused fuel shortages – GOIL

Ghana Oil Company (GOIL) has attributed the recent fuel shortage at some of its service stations across the country to operational challenges occasioned by...

MTN Ghana suspends MTN Date Zone bundle

Scancom PLC (MTN Ghana) has announced a suspension of its MTN Data Zone bundle effective April 5. In a press release on Wednesday, April 12,...

IMF revises Ghana’s average inflation forecast to 45.4% in 2023

The International Monetary Fund has revised its average inflation forecast for Ghana in 2023 to 45.4%. This is in line with the high prices of...

Cedi to record mixed performance this week

The Ghana cedi is expected to record a mixed performance this week as the market awaits a decision of Ghana’s external debt restructuring with...

Crude oil prices to fall to $73.1 per barrel in 2023 – IMF

Crude oil prices will slide by 24.1% to an average $73.1 a barrel in 2023, the International Monetary Fund has stated in its April...

NCA, telcos working on short code for SIM cards registered with Ghana Card

The National Communications Authority (NCA) says work is underway to introduce a short code for the verification of SIM cards that have been linked...

Interest rates likely to fall to pre-Covid levels, IMF predicts

Interest rates in major economies are expected to fall in the future because of low productivity and ageing populations, according to a forecast. The International...

Cedi loses marginal grounds against dollar

After two sustained weeks of improvement in value, the cedi begun this week on a depreciation trajectory. It lost marginal grounds against the dollar in...