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The Internal Monetary Fund (IMF) has confirmed that the government of Ghana has declared its intention to conduct a debt operation ( also called debt restructuring) in 2023. According to an update on the fund’s website, “authorities [Ghana] have assessed their public debt as being unsustainable over the medium term. Together with efforts to bring the government deficit down, they ...

Ghana has been downgraded deeper into junk territory by Moody’s Investors Service on the likelihood that private creditors will incur steep losses during the government’s planned debt restructuring. The country’s credit rating was slashed by two levels to Ca, the second-lowest score at Moody’s, according to a Tuesday statement. That puts Ghana on par with Sri Lanka, which is in ...

The Minority in Parliament has described the 2023 budget statement and economic policy presented by the Minister of Finance, Ken Ofori-Atta, yesterday to Parliament as not encouraging as it provides no hope for the youth because there will be a freeze on employment. It has, therefore, urged the citizenry to brace themselves up for a “maximum hardship” in the coming ...

More iron deposits have been discovered at Nkwanta in the Oti Region, a Deputy Minister of Lands and Natural Resources, Benito Owusu-Bio, has said. It adds up to the recent discovery of the mineral resource in that region around Gyamurume and Wawaso in commercial quantities. Question It adds up to the recent discovery of the mineral resource in that region ...

The President of the European Council, Charles Michel, has pledged the European Union’s (EU’s) support to the government’s efforts to develop the country. He said the EU considered President Nana Addo Dankwa Akufo-Addo as an important partner and Ghana as a close friend, and that the EU would “support your personal commitment to democratic principles and values, which are extremely ...

Eighty percent of road projects being pre-financed by Ghanaian contractors across the country have stalled, the National Chairman of the Association of Ghana Road Contractors, John Afful, has estimated. He attributed these challenges to the depreciation of the cedi and the increasing cost of petroleum products. Speaking on the Citi Breakfast Show, Mr. Afful said it has become practically impossible for ...

The growth of indiscriminate sand mining has led to the destruction of the natural environment, especially farmlands and water bodies. The population in Ghana has continued to grow almost fivefold since the first post-independence census in 1960 (2021 Population and Housing Census|). It has led to an increase in the demand for housing, hence construction materials like sand. The effect ...

The Ghana Health Service (GHS) began conducting a mass deworming exercise across 15 regions from yesterday, November 21 to December 9, 2022 The exercise is targeted at 1.94 million schoolchildren aged between five and 14. It is being undertaken in 11,322 public and private schools in 89 districts spread across 15 regions, except the Ahafo Region. The Deputy Director-General of ...

Nana Abrokwa Asare, the administrator of the National Premix Secretariat, believes criticism of the secretariat from the Odododiodioo MP, Edwin Nii Lante Vanderpuye, because of the premix fuel shortage is unfair. “I believe it is a very unfortunate statement. We are doing everything possible to reverse this challenge that we are facing,” Mr. Asare said on Eyewitness News. As a possible ...

Ghana risks terrorist evasion due to the activities of illegal mining activities in the country popularly known as galamsey.  This is according to the National Security Minister, Mr Albert Kan Dapaah.  He said these “criminals” are attracted to gold mining areas.  Speaking at a press briefing on Sunday, the Minister said the terrorists will use the monies to fund their ...