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

Statutory tax collection body, the Ghana Revenue Authority (GRA), as part of its strategies to enforce tax compliance, introduced the voluntary whistleblower reward. The voluntary whistleblower reward strategy was to encourage people report persons and businesses evading tax payments. Speaking on the progress of the strategy on PM Express, Commissioner-General of the GRA, Reverend Ammishaddai Owusu-Amoah,

The IMF Executive Board met today to conclude its review of the matter raised by WilmerHale’s investigation of the World Bank’s Doing Business 2018 report. This was the eighth such Board meeting on this matter, as part of the Executive Board’s commitment to a thorough, objective, and timely review. In particular, the Executive Board had two extensive

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.

Ghana’s Gross Domestic Product (GDP) growth rate according to analyst and founder for the Institute for Security Studies (ISS), Dr Jackie Cilliers will fall by 2 percent if the country’s external debt composition crosses 60 percent of its GDP. Ghana’s total debt stock as at March 2021 was Ghs 304.66 billion, but the debts tock then increased by Ghs

In recognition of the devastating effects of the COVID-19 pandemic on African economies, the President of the African Development Bank, Akinwumi Adesina, says the bank is willing to help West African countries accelerate growth and development to ensure economic stability. Speaking at the opening of the 59th ECOWAS Heads of State and Authority summit in

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

In 2020 the Nigerian economy shrank by 1.8%, its deepest decline since 1983. The COVID-19 crisis drove the economic slowdown; the external context was marked by capital outflows, intensified risk aversion, low oil prices and shrinking foreign remittances. Published by the World Bank, the Nigeria Development Update Resilience through Reforms states that reforms implemented by the Nigerian government

The country’s banking sector holds half of the country’s domestic debt – meaning the financial sector has become more comfortable investing in government instruments than lending to the private sector, a situation that a financial analyst says is a threat to the recovery plan. According to the Bank of Ghana’s statistical bulletin (May) report, out

Rising energy sector costs if not properly and decisively addressed, would add to and ultimately drive the country’s already unsustainable debt stock. This is according to the IMF’s May 2021 Article IV Consultation paper on Ghana’s economy. “Despite progress in rationalizing power generation, the financial viability of the energy sector affects people’s daily life and