The debate over economic strategy continues to heat up, leading up to the 2024 general elections, with economic analysts suggesting that renegotiating Ghana’s $3 billion bailout programme with the International Monetary Fund (IMF) may be nearly impossible. Ghana is currently navigating a three-year Extended Credit Facility (ECF) programme, with $1.6 billion already disbursed. The country’s … Read more
Ghana’s debt restructuring deal with Eurobond holders has won the approval of the official creditor committee. The committee, representing the country’s bilateral lenders, communicated their seal of approval to the Ministry of Finance in a statement on Monday. This agreement is confirmed to be consistent with the Comparability of Treatment principle. This principle is part … Read more
Advertisement When Ghana discovered oil in 2007, some observers predicted the “Dutch Disease” as the variant of the resource curse awaiting the country. In new research by Colin Constantine of Cambridge and Tarron Khemraj of NCF, it is shown that the classical Dutch Disease has not manifested in Ghana after nearly 15 years of oil … Read more
Despite consecutive increases in visitor numbers for the Ghana Tourism Authority’s (GTA) annual flagship event, ‘December in GH’, hotel occupancy for tourists and visitors has declined in recent years. The 2023 Ghana Tourism Report notes that international tourist arrivals for the year reached 1.1 million, a 25 percent increase from the previous year. It further … Read more
Dr Alex Ampaabeng Advertisement Deputy Minister for Finance, Dr Alex Ampaabeng has on behalf of the Minister for Finance, Dr Mohammed Amin Adam, led a delegation to the Mid-Year ECOWAS Council of Ministers Meetings in Abuja, Nigeria. The meeting brought together Ministers in charge of Finance, Foreign Affairs, and Regional Integration from across the ECOWAS … Read more
Advertisement The Ministry has announced that it has received a formal confirmation from its Official Creditor Committee (OCC) that the Agreement in Principle reached with representatives of Eurobond holders is consistent with the Comparability of Treatment principle. As part of the OCC Common Framework for Debt Restructuring, there must be comparable treatment of Ghana’s debt … Read more
Advertisement Strong economic growth in the West Africa Economic and Monetary Union (WAEMU) region supports banks’ profitability, but only partially offsets asset quality and capital risks, says Fitch Ratings in a new report. The regional central bank expects the WAEMU economy will grow by 6.5% in 2024 (2025: 6.6%), while Fitch expects banks’ balance sheets … Read more
Dr. Ngozi Okonjo-Iweala is the Director General of the WTO Advertisement World Trade Organisation (WTO) members continue to introduce more trade-facilitating measures than trade-restricting measures on goods, an important signal of members’ commitment to keep trade flowing despite the current geopolitical uncertainty, according to the latest Trade Monitoring Update issued on 8 July. The Update, … Read more
Toyota Ghana Limited, in a strategic move to continue providing top-tier vehicles, has launched three new models as the latest additions to Toyota vehicles on the market. These are the Toyota Vitz, Toyota Urban Cruiser, and Toyota Land Cruiser 250 Prado. Unveiling the vehicles at its Accra Branch, Managing Director and Chief Executive Officer of … Read more
Momentum in the treasury market persists, with investors showing mild interest in t-bills during the latest money market auction. Investors submitted bids totalling GH¢3.34 billion, surpassing the GH¢3.24 billion target, according to auction results released by the Bank of Ghana According to figures from the Bank of Ghana, a chunk of the bids came in … Read more