Former Minister for Finance, Seth Terkper, has reacted to statements made by Dr Albert Touna-Mama, the IMF Representative to Ghana, over the country’s classification as a Low-Income Country (LIC) from a Middle-Income Country (MIC) status. As reported by norvanreports on Monday, April 12, 2021, Ghana according to the IMF’s 2021 April Fiscal Monitor Report, was classified as

The Yapei-Kusawgu MP, John Abdulai Jinapor says the Akufo-Addo-led administration’s revenue target is simply unattainable. The former Deputy Energy Minister based his comments on the inability of government to meet any of its revenue targets in the past four years. According to him, government’s projection of adding about ¢20 billion more to Ghana’s current tax

Ghana has lost its status as a Middle-Income Country (MIC). This follows the reclassification of the country as a Low-Income Country (LIC) by the International Monetary Fund (IMF) in its April 2021 Fiscal Monitor Report. According to the IMF, it no longer recognises Ghana as a MIC despite achieving the status in 2010. The downgrade

The Ranking Member of Parliament’s Finance Committee, Dr. Ato Forson, has warned that the minority in parliament will not support the approval of the 2021 budget statement because the government has been “insensitive” and continues to misreport public debt figures. Contributing on the floor of the house during the debate on the budget, Dr. Forson stated

The Bank of Ghana (BoG) has released the list of regulated companies approved to operate as electronic money issuers and payment service providers for business transactions in the country. They include five dedicated electronic money issuers and 21 payment service providers. This follows the passage of the Payment Systems and Services Act, 2019 (Act 987)

A campaign to prevent government from taking on more loans particularly through the issuance of debt-instruments – Eurobonds – on the international capital market has been launched. A campaign to prevent government from taking on more loans particularly through the issuance of debt-instruments – Eurobonds – on the international capital market has been launched. Adding

Ghanaians might soon be paying more for electricity as the Electricity Company of Ghana (ECG) is proposing an increment in tariffs. The Company says it needs more funds to support its operational activities, hence the request. The Managing Director of the company, Kwame Agyeman-Budu at a public forum on Thursday, April 8, 2021, said while

The Minister for Parliamentary Affairs and caretaker Minister for Finance, Osei Kyei-Mensah-Bonsu has assured Ghanaians that the roads under the government’s Sinohydro agreement will be completed in 2021. According to him, most of the roads under phase one are at various stages of completion. Presenting the 2021 budget statement and economic policy on the floor

The Debt Service Suspension Initiative (DSSI) instituted by the Group of Twenty (G20) has been further extended to the end of 2021. The extension of the DSSI initiative was agreed on by the G20, the International Monetary Fund (IMF) and the World Bank at the ongoing IMF/World Bank 2021 Spring Meetings. Welcoming the extension, President

A new Afrobarometer report released by the Centre for Democratic Development (CDD) suggests that Ghanaians endorse taxation and are willing to pay higher taxes to support the country’s development. The report however stated that majority of Ghanaians find it difficult to know what taxes and fees they are supposed to pay and how the government