Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has explained why the local currency, the Cedi depreciated against the major trading ones, the Dollar, Pounds, and Euros, at a time when the local economy was expanding. Recently, the Government Statistician, Professor Samuel Kobina Annim announced that Ghana’s economy grew by 2.9% in 2023, […] The post Addison
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has asked the state security agencies to assist the bank in dealing with reports of cross-border illegal transfers. He says that although the Bank hears rumors of these illegal transfers, it is not taking the matter lightly. Dr Addison said these while answering a question […] The post Bank of Ghana prepared
By Joshua Worlasi AMLANU ([email protected]) The Monetary Policy Committee (MPC) of the Bank of Ghana has announced its decision to maintain the monetary policy rate at 29 percent, citing persisting upside risks to inflation. Dr. Ernest Addison, Governor of the central bank, disclosed the rationale behind the decision during the 117th MPC meeting’s press briefing […] The post
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said that the foreign exchange market came under some seasonal pressures in February and early March 2024. However, he said, the Ghana cedi continues to recover its value. The pressures, he explained, emanated mainly from the strengthening of the United States dollar in international […] The post Cedi continues
Governor of the Bank of Ghana (BoG) Dr Ernest Addison has stated that Fiscal policy implementation so far has been broadly consistent with targets under the International Monetary Fund External Credit Facility (IMF ECF) supported programme. Although the primary fiscal balance (Total Revenue less Total Non-Interest Expenditure) target for 2023 was attained, he said, the […] The post Fiscal
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said that the Cedi was relatively stable in the first quarter of 2024 against the major trading currencies, especially the Dollar. He says they expect the stability to continue. Answering questions at the 117th Moneyray Policy Committee (MPC) press conference in Accra on Monday […] The post Cedis is relatively stable
Governor of the Bank of Ghana (BoG), Dr Ernest Addison has said that Nigeria is currently saddled with a crisis related to the challenges posed by its currency, the Naira. He said this is similar to what Ghana went through in 2022 when inflation kept rising, coupled with the rapid depreciation of the Cedi. Reuters […] The post Naira woes: Nigeria going through
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) will be holding the 117th press conference today Monday, March 25. The MPC is expected to announce major policy decisions including whether or not the policy should reduce. The MPC is also expected to talk about the performance of the Cedi against the dollar […] The post Bank of Ghana to announce key decisions
Ghana’s foreign exchange market came under some seasonal pressures in February and early March 2024, but the Ghana cedi continues to recover its value, Governor of the Bank of Ghana (BoG) Dr Ernest Addison has said. He explained that the pressures emanated mainly from the strengthening of the US dollar in international markets, and payments […] The post Ghana’s
Gross international reserves (GIR)increased in 2023, Governor of the Bank of Ghana (BoG) Dr Ernest Addison has said. The stock of the GIR at the end of December 2023 rose to US$5.91 billion, equivalent to 2.7 months of imports cover for goods and services, he said. Excluding pledged assets and the Ghana Petroleum funds, the […] The post Ghana’s gross international reserves
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, concluded her visit to Ghana on Monday, 18th March, 2024, following two days of productive engagements. Dr. Ernest Addison, Governor of the Bank of Ghana, bid farewell to the IMF MD, alongside the First and Second Deputy Governors of the bank and the IMF […] The post IMF MD departs
The Governor of the Bank of Ghana, Dr. Ernest Addison, has underscored the need for banks to remain committed to their critical role of bridging trade financing in both the primary and secondary markets. According to the governor, this will help strengthen the country’s financial systems. Speaking at the Ghana International Bank cocktail event to […] The post BoG
The National Tenants’ Union of Ghana has called for the immediate publication of the names of beneficiaries under the National Rental Assistance Scheme (NRAS), organized by regions and communities. This call comes in response to former Minister of Works and Housing, Francis Asenso Boakye’s assertion that 1,492 citizens received a total disbursement of GH 19 […] The post Publish
The Minister for Roads and Highways, Francis Asenso-Boakye, has called for the reintroduction of road tolls in a bid to mobilize adequate revenue to bridge the country’s road infrastructural deficit. The collection of road tolls was discontinued in 2021 as part of policy measures announced by the government in the preceding year’s budget statement. During […] The post Asenso-Boakye
The Minority in Parliament has issued a warning to the Minister for Roads and Highways, Francis Asenso-Boakye, regarding what they perceive as his continuous absence from parliamentary sessions where he is expected to address queries related to his ministry. According to the Caucus, the Minister has, on three separate occasions since his nomination to lead […] The post Minority
African leaders have made a decision that will create a robust future market for medical products for African manufacturers. Spearheaded by the Africa Centres for Disease Control and Prevention, a pooled procurement mechanism was agreed upon and signed off late last night at the African Union (AU) Summit in Addis Ababa. This decision is significant because […] The post Africa CDC spearheads
In a recent political gathering hosted by the New Patriotic Party (NPP) to acclaim Samuel Abu Jinapor as a parliamentary candidate for Damongo, Francis Asenso-Boakye, Minister for Roads and Read More... The post Mahama
The outgoing Minister of Works and Housing, Francis Asenso-Boakye, in a move to pay tribute to the contributions and achievements of former Minister Hackman Owusu-Agyemang, has announced the naming of a recently completed housing project in Ringway, Accra after him. This came to light during a tour of the newly constructed 16 units of 4-bedroom […] The post Bantama Asenso-Boakye names
The Minister for Works and Housing, Francis Asenso-Boakye, has disclosed that 1,393 people have benefited from the National Rent Assistance Scheme as of December 31, 2023. The system was launched by the Vice President of Ghana and flagbearer of the New Patriotic Party, Dr. Mahamudu Bawumia, in January 2023. The scheme is designed to provide […] The post Over
The Member of Parliament for the Bantama constituency, Francis Asenso-Boakye, has expressed dismay at the results of the just-ended New Patriotic Party (NPP) Parliamentary Primary in Bantama, stating that he was not expecting such a close contest. Asenso-Boakye contested with Ralph Agyapong, a brother of the MP for Assin Central, Kennedy Agyapong, in the Bantama […] The post NPP
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