The Bank of Ghana’s (BoG) Special Drawing Rights (SDR) holdings with the International Monetary Fund (IMF) decreased by $16.6 million in 2020. IMF SDR holdings of the BoG at end-November 2020 stood at Ghs 242.39 million ($42.2 million), but then declined to Ghs 148 million ($25.6 million) at end-December 2020. BoG’s Ghs 148 million ($25.6
Social Entrepreneur, Vincent Dzokoto wants the suspension of exploration and production contracts on the Keta Delta Block. According to him, there hasn’t been a sustained effort to forge cooperation between the communities within the Keta constituency and the government about plans to advance the exploration of oil. Swiss African Oil Company and PET Volta Investments
The Ghana Association of Bankers wants government to find other ways of addressing the high fiscal deficit, rather than targeting the banking sector with new tax introduction. “As an industry, we believe that if we [the banking industry] have this huge fiscal deficit, we must have a plan to address it.” “We believe we have
The teams focused their efforts on a few of the highest-value S&OP levers in order to review the current planning process, identify gaps in the planning infrastructure and analytically understand demand and supply variability.
The Bank of Ghana (BoG) is exploring the launch of a Central Bank Digital Currency. This is according to the Second Deputy Governor of the BoG, Mrs Elsie Awadzi Addo. Speaking at the virtual regional capacity building workshop organized jointly by IMF’s AFRITAC West 2 and Monetary and Capital Markets Department (MCM), Mrs Awadzi Addo
Supported by a robust sales force and tight cost controls, Pharm Ltd. experienced sustained double-digit growth over a number of years, only to find that their supply chain struggled to keep pace.
Ranking Member of the Finance Committee in Parliament, Cassiel Ato Forson, has said the recorded fiscal deficit of 15.4 percent at end-2020 is a complete outlier when compared to other countries in the sub-saharan region. Making the assertion at a policy dialogue forum on Ghana’s economy held by the Minority in Parliament on Monday, July 26, the former Deputy
Assets of all 23 banks currently operating in the country, according to the Bank of Ghana (BoG), totaled Ghs 152 billion as at end-February 2021. The recorded total assets value the BoG notes in its Banking Sector Development Report, represents a 18.5 percent year-on-year growth which is marginally higher than the annual growth of 17.8
The International Monetary Fund (IMF), has expressed worry over Ghana’s rising debt stock noting the country has to implement some drastic measures to contain the debt situation. Addressing the issue, Director of the African Department of the IMF, Abebe Amero Selassie, adviced government that it revise some of its debt sustainability programmes. “Our engagement with
he members of the G20 have reached an agreement on a deal that would set a minimum tax rate for major companies, German Finance Minister Olaf Scholz said on Saturday. The comments came amid talks between the finance ministers from the world’s largest economies in Venice, Italy. While progress was made, a final agreement on