Finance

A group of Ghana’s independent power producers has rejected a proposal from the government to include $1.4 billion in arrears as part of the nation’s external debt restructure, while pushing authorities to honor payments that start coming due Friday. The Independent Power Generators of Ghana — an umbrella association known …

Parliament is considering the passing of three new revenue measures into law today March 23, 2023. The Ministry of Finance indicated that the new proposed taxes will increase the country’s domestic revenue by almost GH¢5 billion and also boost the country’s Ghana’s fiscal position. The revenue measures include the Income Tax …

Government secured GH¢3.88 billion from the sale of treasury bills in its latest auction held on March 10, 2023. This was an oversubscription of the GH¢1.10 billion it was targeting. However, interest rates have dropped significantly to 18%. According to the auction results from the Central Bank, the government secured …

Finance Minister Ken Ofori-Atta left Accra for China on Sunday (March 19), pro-government Asaase Radio has reported. Ofori-Atta’s trip to Beijing is hinged on efforts to secure a deal for restructuring of Ghana’s bilateral debts with the Asian economic powerhouse. Even though Ghana is seeking a US$3 billion facility from the International …

The Republic, through the Attorney-General, has stated that the State has succeeded in establishing a case against all the accused persons including former Deputy Minister for Finance, Dr. Cassiel Ato Forson, in the criminal trial involving the supply to the State of vehicles unworthy to be used as ambulances in …

The Electricity Company of Ghana paid the Ministry of Energy a visit last week Tuesday, plunging the whole facility in darkness for almost half a day, only restoring power after the mother ministry of the Electricity Company of Ghana (ECG) paid their debt bill in full. This will be the …

Minority Leader, Dr. Cassiel Ato Forson says there’s a bleak possibility of closing a deal Ghana is seeking from the International Monetary Fund (IMF) by close of March, 2023. According to him, the processes that will lead to the consideration of the financial aid ahead of a possible approval is …

The Asantehene, Otumfuo Osei Tutu II has implored the government of President Nana Addo Dankwa Akufo-Addo to be transparent with citizens on issues to do with the economy. According to him, there is a need for the government to come clean on the current state of Ghana’s economy including the recently conducted Domestic …

The Institute of Economic Affairs (IEA), a public policy think-tank, has described Ghana’s current debt, which is being restructured, as “disheartening and frustrating”, to businesses and individuals. As a result, the Institute has advised that the Government take action to swiftly conclude the debt restructuring process to secure the US$3 …

Following the accident of a Bank of Ghana Bullion Van in November 2019 at Techiman, in the Bono East Region of Ghana, the Management of the Bank of Ghana established a committee to investigate the circumstances leading to the accident and make recommendations to improve currency movement operations in the country. Amongst other …