Executive Secretary of the Chamber of Petroleum Consumers Ghana (COPEC), Duncan Amoah, has accused the National Petroleum Authority (NPA) of unilaterally adding some Ghs 0.17 pesewas to the already Parliament approved Ghs 0.30 pesewas tax charge on fuel price as contained in the 2021 budget statement. In statement issued by the Chamber on Friday, April
A Former Minister of Finance, Mr Seth Terkper, has bemoaned the increasing number of tax handles imposed on the citizens in recent times. He said the country needed to understand that it could not tax its way out of expenditure overruns that were leading to high deficits, borrowing and debts. He said while taxes were
KEY POINTS The South African Reserve Bank said the economy was continuing to rebound from a 2020 recession that saw gross domestic product contract by 7%, its steepest decline for over a century. But it warned the outlook remains highly dependent on the pace of the vaccine rollout and possible resurgence of the virus, suggesting
The new kids on the oil block—Guyana, Suriname, and Ghana—have no plans to let their newly discovered oil wealth go to waste by joining global decarbonization efforts. They plan to exploit them as best as they can before they become worthless, Reuters has reported, citing statements by government officials made at this week’s Offshore Technology Conference in Houston.
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
Chief Executive Officer (CEO) of National Oil Company (NOC) the Ghana National Petroleum Corporation (GNPC), Dr K. K. Sarpong has revealed real reasons behind the corporation’s move to buy stakes in Aker Energy and AGM Petroleum Ghana towards the Corporation’s drive to operatorship. The Chief Executive speaking on Joy News’ Upfront and monitored by norvanreports, noted that among the many reasons to acquire
58 Replies As of today, the five year constant maturity Treasury yield has stabilized for the last month at about 0.9%. The inflation breakeven implied by the spread between Treasurys and TIPS has plateaued at 2.52%. After accounting for the estimated term premium and liquidity premium, the implied inflation rate is 1.90% . Figure 1. Five year inflation
After a year of havoc, wreaked on the economy by COVID-19, the government has laid a blueprint of bold policies and programmes to stop the spread of the virus and contain its effects; revert the economy onto the path of transformational growth and ensure prosperity for all Ghanaians. In the country’s first budget since the
Minister for Food and Agriculture, Dr Owusu Afriyie Akoto, has said the quality of Ghana’s cocoa is unmatched making China no competition in terms of cocoa exports to the international market. “Ghana’s cocoa in terms of quality is matchless to none globally, hence, the international market’s decision to pay up to 25 percent premium on
Africa, despite its low contribution to greenhouse gas (GHG) emissions, remains the most vulnerable continent to climate change impacts. It also hosts some of the lowest-income countries in the world, limiting the resources available for adapting to a heating planet. Seven out of the 10 most climate vulnerable nations in the world are located in Africa.