Woodfields Energy Resources Limited, an indigenous Ghanaian petroleum company, has refuted claims of its indebtedness to the Tema Oil Refinery (TOR) to the tune of five million dollars. According to the company, they have honoured all their payment obligations for processing fees to TOR and is not indebted to the refinery for any processing fee

Banks in the country have called for more consultations ahead of the Bank of Ghana’s (BoG) decision to implement the e-cedi currency. The electronic currency, among other reasons, is aimed at enhancing low transaction costs, improving security of payments, as well as ensuring higher monetary transaction limits. Even though the banks are optimistic that introduction

While most economic indicators deteriorated last year, house prices largely shrugged off the effects of the pandemic. Of the over 60 countries that enter into the IMF’s Global House Price Index, three-quarters saw increases in house prices during 2020, and this trend has largely continued in countries with more recent data. IMF research indicates that low interest rates contributed

The African Development Bank (AfDB) has been charged by the Minister for Finance, Ken Ofori-Atta, to tackle risks brought about by the pandemic and currently facing the continent to facilitate the continent’s successful recovery from the pandemic. Making the assertion at the virtual 2021 Annual Meeting of the African Development Bank, Mr Ofori-Atta opined that

Ghana has on several occasions warnings and alerts from rating agencies and major multilateral institutions such as the World Bank, IMF, and Fitch Ratings over its stagnant revenues and rising debt vulnerabilities. Fitch Ratings for instance, in June, reviewed downwards Ghana’s Long-Term IDR from ‘B’ to ‘B-‘ indicating an increase in the country’s default risk in repayment of its

Effective April 1, 2021, the Ghana Revenue Authority (GRA) will convert all National Identification numbers into Tax Identification Numbers (TIN). This forms part of efforts to identify and rope in more eligible taxpayers, especially those in the informal sector and enable organizations to easily share important data with the Authority. President Nana Addo Dankwa Akufo-Addo

Why is the Indian Ocean nation of Mauritius far wealthier than its fellow, former British possession, and sugar based economy, Fiji? Both countries developed similar economies and grew in much the same way for more than 100 years. In the late 1970s and early 1980s Fiji had the stronger economy, but not now. Last year

The wind of Central Bank Digital Currency (CBDC) is currently blowing across the globe with major Central Banks in the process of developing systems that will support digital money. China is testing a digital renminbi version, whereby customers can transact payments over their mobile phones. Europe announced the launch of a digital Euro as part of their

The Nigerian federal government spent a total of N1.8 trillion on debt servicing in the first five months of the year, representing about 98% of the total revenue generated in the same period. This is according to the budget implementation report presented by the Minister of Finance, Budget & National Planning, Mrs Zainab Shamsuna Ahmed.

Former Minister for Finance, Seth Terkper, has said Ghana’s return to the International Monetary Fund (IMF) for financing support is a decision government would have to make for itself. This, the erstwhile Minister noted is despite the obvious need for the country to return to the IMF and undergo a programme (in the absence of a homegrown