Breaking News

The Director of Research at the Institute of Economic Affairs (IEA), Mr John Kwakye has said there is a need for the government and the Bank of Ghana (BoG) to directly address the main drivers of high inflation. The drivers are food, fuel and exchange rate, he said. The inflation rate for the month of July 2022 was 31.7 percent, ...

A former Board Chairman of the Ghana Revenue Authority (GRA), Prof Stephen Adei has charged President Akufo-Addo to address the nation on the challenges confronting the country. According to him, the enormity of the current economic problems is similar to the Covid-19 situation. Thus, the President must once again hold periodic nation addresses to let the people know the government’s ...

Ghana’s currency has dropped for 15 straight weeks and the depreciation may extend, if history is any guide.  The cedi has weakened 36.3% this year making it the world’s worst-performing currency after Sri Lanka’s rupee. A 30-year analysis shows that every time the measure has dropped for 15 straight weeks — there have been 28 such instances in the period ...

Stakeholders in the mental health sub-sector have been encouraged to intensify discussions to agree on the urgent need for harmonized treatment approaches in Mental Health conditions. The recommendation is intended to among other things bridge the mental health treatment gap between the traditional and scientific ways of handling mental illness. “What is required is for more dialogue and open discussions ...

Fisher folks in the Krachi West and East Municipal Assemblies in the Oti Region are being denied access to Premix fuel by faceless individuals who have hijacked the Premix Fuel markets for personal gains. These faceless individuals, tagged as political party activists, purchase the relatively scarce product in large quantities, hoard it, and later sell the fuel at exorbitant prices ...

The first vessel transporting Ukrainian wheat grain to support humanitarian operations run by the World Food Programme (WFP) has left the port of Yuzhny, also known as Pivdennyi, the UN agency reported on Tuesday.  The MV Brave Commander departed with 23,000 metric tonnes of wheat grain for WFP’s response in the Horn of Africa, where the threat of famine is looming due to severe ...

The Bank of Ghana is convening an emergency Monetary Policy Committee meeting on Wednesday, August 17, 2022, over recent challenges faced by the Ghanaian economy. The meeting according to the apex bank will review developments in the economy over the past month. Some of the issues expected to be discussed are ways to deal with the sharp depreciation of the ...

The Minority in Parliament says the increase in utility tariffs by the Public Utilities Regulatory Commission (PURC) will only exacerbate the current high cost of living. This comes after the PURC announced new tariffs for electricity and water. Utility consumers will pay 27.15 percent for electricity and 21.55 percent for water effective September 1. The Ranking Member on Parliament’s Mines and Energy ...

Director of Operations at Dalex Finance, Joe Jackson, has described the current economic downturn as one of the toughest he has experienced since 1981. According to him, there is no dispute when it comes to the dire economic situation the country finds itself in and this is especially reflected in Ghana’s interest rates. “The government Treasury bill, 91 days Treasury ...

Madam Monica Josiah, Head of Shippers’ Services and Trade Facilitation at the Ghana Shippers Authority (GSA), has called on the government to work in collaboration with stakeholders to redeem the cedi from its present woes. She said it was time the government took effective measures to help stabilise the cedi to build a resilient and robust economy for macro-economic stability. ...