Business

A former Finance Minister, Dr Kwabena Duffuor, has proposed the establishment of a National Economic Rescue Team to help find immediate and lasting solutions to the current economic challenges. He said the depth of the economic crisis and the ongoing attempt to restructure the domestic debt towards macroeconomic stability and recovery of the economy call for the establishment of an ...

The Finance Minister, Ken Ofori-Atta, has hailed the Staff-level Agreement with the International Monetary Fund for a new three-year arrangement under the Extended Credit Facility (ECF) of about US$3 billion. The agreement was reached after several months of talks between Ghanaian government officials and authorities of the IMF. Addressing Journalists at a press conference on Tuesday, Mr. Ofori-Atta said the ...

The West African Examination Council (WAEC) has released provisional results for the 2022 West Africa Secondary School Certificate Examination (WASSCE). In a statement on Thursday, WAEC said the results relate to only Ghanaian students who took part in the exams this year. According to the examination body, candidates can access the results on its website. However, some 8,486 candidates who ...

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 ...

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 ...

The Canoe and Fishing Gear Owners Association of Ghana is calling for greater transparency in the threats currently facing fishers in Ghana and the measures taken to resolve them to save the sector. A statement released by the Association and signed by its president, Nana Kweigyah, among other things, called for broader stakeholder engagements and a lasting solution to the ...

The Ministry of Communications and Digitalisation has announced that it has instituted plans of deactivating all SIM cards yet to be registered by November 30, 2022. The Ministry, in a statement issued on November 11, warned that “all SIM cards which have completed the first stage of the registration exercise but not done the second phase will be blocked from ...