Ghana

OMCs Start Increasing Fuel Prices; Goil Selling A Litre Of Petrol, Diesel For ¢12.45
01 Jun

OMCs Start Increasing Fuel Prices; Goil Selling A Litre Of Petrol, Diesel For ¢12.45

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Some Oil Marketing Companies (OMCs) have started increasing prices of petroleum products at the pumps. Goil has taken the lead, selling at litre of diesel and petrol at ¢12.45 pesewas from its old price of ¢12.30 pesewas a litre. The increase is in line with the biweekly review of prices at the pumps. The latest increase, according to some stakeholders is due to the cedi’s performance and crude prices on the international market. It is expected that more OMCs will also adjust prices upward later today. IES prediction Earlier, the Institute for Energy Security (IES), predicted that prices of petrol…
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IMF Programme Silent On Cutting Waste, Reducing Corruption – Prof. Bopkin
24 May

IMF Programme Silent On Cutting Waste, Reducing Corruption – Prof. Bopkin

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Economist Professor Godfred Bokpin has expressed worry that the design of the current International Monetary Fund (IMF) programme does not address the leakages and wastage of public funds. According to him, the Fund overemphasised the need to increase revenue without setting up anti-graft systems that will prevent corrupt acts in Ghana’s public financial management system. Speaking to Joy Business, Prof. Bokpin, argued that the current deal will leave Ghanaians more vulnerable. “I have a problem with the design of the programme. By the time we are done, it will leave more Ghanaians vulnerable than it sought to achieve”, he said.…
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Dr. Bawumia Has Genuinely Sacrificed A Lot For NPP and Ghana- Dr. Solomon Kwarteng Forkuo
23 May

Dr. Bawumia Has Genuinely Sacrificed A Lot For NPP and Ghana- Dr. Solomon Kwarteng Forkuo

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A senior lecturer at the Kumasi Technical University(KsTU), Dr. Solomon Kwarteng Forkuo, has heaped praises on Vice President Dr. Mahamudu Bawumia for his digitalization agenda. According to him, Dr. Bawumia deserves applause for been able to combine digitization with tradition- stressing that it's not easy to introduce digitalization and still use tradition. He said that unlike others who are unable to tell what they have been able to do or achieved for the state, Dr. Bawumia easily does that because he has genuinely worked hard to improve the livelihood of the citizenry. "He is an asset for the party and…
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Government Expecting $1.2bn In IMF Disbursement For 2023 –Dr Adam
16 May

Government Expecting $1.2bn In IMF Disbursement For 2023 –Dr Adam

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The Minister of State at the Finance Ministry, Dr. Mohammed Amin Adam has disclosed that Ghana will receive $1.2 billion this year after government gets an International Monetary Fund (IMF) Board approval by Wednesday, May, 17, 2023. “You can imagine what this will do to Ghana’s Balance of Payment support going forward”, he said. Dr. Adam disclosed this to Joy Business in a yet to be aired PM Express Business Edition with Host George Wiafe on Thursday May 18, 2023. Details of the disbursement According to him, about $600 million would be disbursed to Ghana within a week, once Ghana’s programme…
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External Creditors Close To Giving Financing Assurances For Ghana’s Debt Rework Talks
12 May

External Creditors Close To Giving Financing Assurances For Ghana’s Debt Rework Talks

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Ghana’s official creditors are poised to grant financing assurances and form a committee co-chaired by France and China – key steps for the nation to secure a $3 billion International Monetary Fund (IMF) loan, sources told Reuters. The country’s bilateral lenders are expected to formally grant financing assurances as soon as Friday – confirmation that they will then start talks to give Ghana the relief needed to make its debt sustainable, said the sources with direct knowledge of the process speaking on condition of anonymity. The assurances could pave the way for the IMF executive board to approve the $3…
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Ghana Deepens Petroleum Trade Ties With Mali
08 May

Ghana Deepens Petroleum Trade Ties With Mali

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The National Petroleum Authority (NPA) has initiated moves to promote fuel trade and investment between Ghana and Mali. The NPA’s strategy is to continuously engage the Malian authorities and importers to achieve the objective of increasing fuel supply to the Sahelian region. Consequently, a delegation from the NPA led by a Deputy Chief Executive, Linda Asante, paid a four-day working visit to Mali. The team held meetings with key stakeholders including the regulators, Office Malien des Produits Petoliers (OMAP), the  Malian Customs, and the directorate in charge of trade – Direction Generale Commerce de la Consommation et de la Concurrence…
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NDC Cannot Execute A Quarter Of What The NPP Has Done- Kingsley Adumatta Agyapong
04 May

NDC Cannot Execute A Quarter Of What The NPP Has Done- Kingsley Adumatta Agyapong

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The Chairman UK- branch for the ruling New Patriotic Party (NPP), Kingsley Adumatta Agyapong has said that the NDC cannot execute even a quarter of policies and projects implemented by the current government. He expressed shock over the current utterance of the former President, and also do not understand why the John Mahama hasn't been able to share any 'meaningful' policy or idea he will execute if he's voted into power. "So Mahama wants to tell us that after his uncountable trips to Dubai, he hasn't been able to pick or learn anything from them? Look at how developed the…
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Ghana May Have To Wait Several Years Before Going To The International Capital Market – Finance Minister
21 Apr

Ghana May Have To Wait Several Years Before Going To The International Capital Market – Finance Minister

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Finance Minister, Ken Ofori-Atta, says Ghana may have to wait some three or more years before going back to the international capital market. According to him, while the country hopefully gets onto an IMF programme, Ghana’s temporary obstruction from the international capital market poses an opportunity for the country to finally pursue earnestly its self-sufficiency agenda. Speaking to JoyBusiness’ George Wiafe on the sideline of the IMF spring meeting in Washington DC, the minister said, “In terms of returning to the international capital market, I suspect it will take some two-three years or so if not more for us to…
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Ghana Spent 45% Of Revenue On Interest Payments In 2022 – IMF
17 Apr

Ghana Spent 45% Of Revenue On Interest Payments In 2022 – IMF

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Ghana spent about 45% of its revenue excluding grants to pay interest payments in 2022, the International Monetary Fund April 2023 Regional Outlook Report has revealed. This placed the country at the number one position in Sub-Saharan Africa. The high interest payments was due to the elevated public debt of the country estimated at 575 billion or $44 billion as of November 2023. Though the government suspended interest payments on some selected external debts, the interest costs of domestic debt was very high. Now, the interest payments to be paid this year will depend on a successful external debt restructuring…
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UK Red List Ghana, Nigeria For Health Workers’ Recruitment
12 Apr

UK Red List Ghana, Nigeria For Health Workers’ Recruitment

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Ghana is now among the list of 54 countries that should not be actively targeted for recruitment by health and social care employers in the United Kingdom. The announcement was made by the UK government in its revised code of practice for the international recruitment of health and social care personnel in England. The code states that some developing countries, such as Ghana, Cote d’Ivoire and Nigeria should not be targeted when actively recruiting health or care professionals. In a release on the NHS website, the UK government explained that the listed countries have a UHC Service Coverage Index that…
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