BUSINESS

The government of Ghana has received $360 million as the third tranche of the country’s bailout package from the International Monetary Fund (IMF). This amount, intended for budget support and stabilization of the local currency, was officially credited to the Central Bank’s account on Tuesday, July 2, 2024. This disbursement follows the IMF Executive Board’s approval of the second review ...

On Monday, July 1, Finance Minister Dr Mohammed Amin Adam addressed Ghanaians on the economy and the International Monetary Fund (IMF) deal as part of the ministry’s monthly media update on the economy. Highlighting key points, he mentioned that Ghana’s economy is showing strong signs of recovery. Additionally, he noted that the depreciation of the local currency against major trading ...

Finance Minister, Dr Mohammed Amin Adam says Ghana’s economy is demonstrating formidable signs of a comeback. During a press briefing on Monday, July 1, Dr Adam highlighted the positive economic indicators for the first quarter of 2024, suggesting a favourable outlook for the rest of the year. “Growth, as we’ve heard from the previous two distinguished speakers, is proving to ...

The Finance Minister and Member of Parliament for Karaga, Dr Mohammed Amin Adam,  has accused the Minority in Parliament of fueling speculations on the Cedi. He urged the opposition lawmakers to provide constructive criticisms and ideas to the government to complement the ideas that are already being pursued. His comments come at a time when Bolgatanga Central lawmaker Isaac Adongo ...

Amazon was once Jeff Bezos’s “famously unprofitable company”, as the former CEO said in an exclusive 2000 BBC Newsnight interview. Nearly 25 years on, the ubiquitous company has become one of a handful of companies in the world valued at over $2 trillion. On 8 June 2000, the BBC presenter Jeremy Vine was pictured sat behind the Newsnight desk, poring ...

The International Monetary Fund (IMF) has expressed worry the upcoming general elections in December 2024 could pose some possible risks to gains made under its programme with Ghana. According to the IMF, “the medium-term outlook remains favourable but subject to downside risks—including those related to the upcoming general elections”. It added that “keeping the domestic revenue mobilization agenda on track and tightening expenditure ...

The price of petrol is expected to go up by 2.0% from July 1, 2024, for the next two weeks, the Institute for Energy Security has revealed. At the same time, the price of diesel will surge by 4.0%, whilst that of Liquified Petroleum Gas (LPG) will shoot up by 5%. The expected increase in fuel prices is due to ...

Government successfully raised GHS 2.99 billion, exceeding its target of GHS 2.65 billion in a recent treasury bills auction, the Ghanaian This achievement reflects a modest resurgence in demand for short-term government securities as interest rates remained steady across all tenors. At the auction, government saw strong interest in its treasury bills, demonstrating confidence in the stability of the yield ...

Depreciation of the Cedi automatically affects prices of cement, Independent Presidential candidate and Leader of the Movement for Change, Alan Kyerematen has aid. He explained that because of the importation of clinker for the production of cement, whenever the Cedi falls against the Dollar, it has a multiplying effect on the prices of the commodity. The former Trade Minister suggested to ...

All the banks that were collapsed by the Akufo-Addo government under the ministerial leadership and supervision of former Finance Minister Ken Ofori-Atta would be given back to their owners after an “unbiased assessment,” former President John Mahama has promised. From 2017 to 2020, 10 banks owned by Ghanaian businesspeople were collapsed by the Bank of Ghana. UT Bank and Capital ...