Duncan-Williams Spiritually ‘Commands The Cedi To Rise’ Archbishop Nicholas Duncan-Williams has spiritually “commanded” the falling cedi to “rise”. Leading his followers, in Church today (Sunday), to pray for the recovery of the fast depreciating local currency, the Presiding Bishop and General Overseer of the Christian Action Faith Ministries (CAFM) headquartered in the national capital, Accra, said: “…I hold up the […]
Post Tagged with: "Ghana economy"
Bank of Ghana Injects US$20m Into Economy To Save Cedi The Bank of Ghana has injected $20 million into critical areas of the economy as part of efforts to shore up the cedi. Governor of the bank, Dr Henry Kofi Wampah, who disclosed this to the Daily Graphic did not give details but said there were also plans to roll […]
Finance Minister Seth Terkper: President’s Confidence Will Make Me Do Better The Minister of Finance, Mr. Seth Terkper has said attempts by some people within government to get the President to fire him would rather challenge him to do better. President Mahama revealed on Wednesday at a meeting with the new Barclays Bank boss that he was under pressure to […]
Ghana Loses GH¢4.2b Due to Irregularities in Use of Public Funds Available figures from the Auditor-General’s Department indicate that Ghana lost GH¢4,559,976,756.76 within five years as a result of irregularities in public institutions. Reports from the Auditor-General spanning 2008 to 2012 indicate a general trend in the rise and fall of the incidence of irregularities, with the periods 2008 to […]
Inflation Shoots Up To 13.2% Inflation shot up marginally from 13.1 percent in October to 13.2 percent in November. The marginal increment is contrary to seasonal trends and is the highest since March 2010. The new rate indicates that interest rates will not come down anytime soon.
Ghana Cedi Nears 20 Percent Depreciation Mark The Ghana Cedi has neared the 20 percent depreciation against the US Dollar. That’s according to Ecobank research tracking of 22 currencies on the African continent. This is against the 9 percent depreciation of the local currency against the American currency on the interbank market.
Opposition MP Wants 2014 Budget Withdrawn Kwabre East Legislator, Kofi Frimpong is demanding the 2014 budget and fiscal policy document be withdrawn from Parliament immediately. He argues the document is fraught with unpardonable errors which were totally avoidable.
Fitch Criticizes Ghana’s 2014 Budget International ratings agency, Fitch says Ghana’s 2014 budget will not effectively address the deterioration in government finances over the past two years that has substantially eroded Ghana’s creditworthiness. It maintains that the pace of fiscal consolidation over the next two years will be slower than government’s projection, forecasting a deficit slightly above 9 percent for […]
Ghana Seeks $2.5 Billion Investment to Double Capacity at Ports. Ghana Ports and Harbours Authority, the state company that runs the nation’s two ports, will award contracts worth $2.5 billion through 2018 to double capacity, handle larger ships and reduce waiting time for vessels.
Ghana Gradually Entering HIPC with $23.4 Billion Debt An economist with ISSER, Dr. Robert Osei has warned that Ghana is gradually entering into HIPC with the latest public debt stock of 23.4 billion dollars. Ghana’s public debt stock stood at 23.4 billion dollars at the end of September this year. This is equivalent to 53.5 percent of GDP. It is […]
Download 2014 Budget of Ghana Highlights of the budget THEME: “Rising to the Challenge: Re-aligning the Budget to meet Key National Priorities” 1. President, Vice President and the Executive takes a 10% salary cut 2. Establishment of Infrastructure Fund Will change fundamentally the funding and delivery of infrastructure in the country; Will reduce cost, enhance timely payments, and promote more […]
Third Arab-African Summit: Kuwait Promies $1 billion for Africa. Kuwait has announced it will give USD1 billion to African countries in the next five years, as dozens of heads of state meet in the country today (November 19) for the third Arab-African summit. His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah said his country’s commitment to forging genuine partnership […]