News
Jomoro MP reshapes Ankasa Forest Reserve road
The Ankasa Forest Reserve road in the Jomoro Constituency of the Western Region is receiving a reshaping by the Member of Parliament, Dorcas Affo-Toffey. The eight-kilometer road has not seen any coal tar since construction several decades ago. The reshaping of the road would serve nearby communities such as Amokwawsuazo, Fire, “Odo y3 f3“, Paradise […]
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Business
$3bn deal: We are beginning to reap substantial macroeconomic benefits – BoG Governor
The Ministry of Finance and the Bank of Ghana have shown a steadfast commitment to a set of policies right from the beginning of the implementation of the $3 billion programme with the International Monetary Fund (IMF) under very difficult circumstances, Governor of the central bank, Dr Ernest Addison has said. He stated that they […]
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Business
IMF deal: Addison expresses optimism that 2nd review will lead to release of 3rd tranche
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has expressed optimism that the successful second review of the programme with the International Monetary Fund (IMF) will lead to the release of the 3rd tranche. The country had already received two tranches, $600million each. The release of the third tranche would increase the total […]
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IMF: We are satisfied with Ghana’s Economic Performance
The International Monetary Fund (IMF) has expressed satisfaction with Ghana’s Economic performance under the IMF-supported program, as it reaches staff-level agreement on the second review of Ghana’s economic program under the Extended Credit Facility (ECF) arrangement. Addressing the media at a joint news conference with the Bank of Ghana (BoG) and the Ministry of Finance […]
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Business
Bank of Ghana seeking to hand over Gold for Oil programme to a commercial bank – Dr Addison
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has revealed that the central bank intends to hand over the Gold for Oil programme to a commercial bank to operate. This, he said, would allow for the BoG to focus on its core mandate. Asked by Buem lawmaker Kofi Adams whether this programme is […]
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Business
Governor Addison assures PAC of ‘a big jump’ in BoG’s holdings of gold
The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has assured the Public Accounts Committee (PAC) of Parliament that by next year the central bank will see a huge jump in its holdings of gold due to the Gold For Reserves programme. He said that the full benefits of the programme have not […]
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Business
Ghana’s economy is improving – BoG Governor
The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has declared that Ghana’s economy is on an upward trajectory compared to previous years. Previously, the economy had experienced a downturn, prompting the government to seek a $3 billion International Monetary Fund (IMF) bailout. However, during his address to the Public Accounts Committee of […]
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Featured
Facilities in new head office have been downsized – BoG Governor reveals
The Bank of Ghana (BoG) has revealed that it has reduced the scale of certain facilities in its controversial new head office, currently under construction. The BoG faced significant criticism over the construction of the new headquarters, with the Minority in Parliament demanding the removal or resignation of Governor Dr. Ernest Addison. Speaking before the […]
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Crime
Police arrest 4 PRESEC students for faking the kidnapping of their mate
The Ghana Police Service has disclosed that through an intelligence-led operation and investigation, it has arrested Six (6) persons including Four (4) Juveniles who are all Students of Presbyterian Boys Senior High School (PRESEC), Legon, Accra for staging a kidnapping incident. The two (2) adults among the six (6) are Isaac Kissi Adjei alias Kofi […]
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Crime
Fake kidnapping of PRESEC student: Supposed kidnappers demanded GHC340K – Police
The Ghana Police Service has stated that its investigation has revealed that the reported kidnapping of a student of Presbyterian Boys Senior High School (PRESEC), Legon, Accra, was staged. According to the Police, the supposed kidnappers demanded an amount of Three Hundred and Forty Thousand Ghana Cedis (GHC340,000.00) as ransom from the alleged victim’s parents […]
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Celebrity News
”April Fools” – Davido breaks silence on alleged arrest
Grammy-nominated singer Davido has denied rumours of an arrest in Uganda and Kenya. He shared a post on his X page, imploring fans and followers to disregard the false rumours. The singer noted that he has never been arrested by anyone for any crime abroad or at home. He further stated that his lawyers were seeking legal […]
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Business
Addison explains why Ghana’s economy is growing but the Cedi is depreciating
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, […]
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Business
Bank of Ghana prepared to tackle cross-border illegal transfers – Governor 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 […]
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Economy
BoG holds policy rate steady at 29% amid lingering inflation risks
By Joshua Worlasi AMLANU (joshua.amlanu@thebftonline.com) 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 […]
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Business
Cedi continues to recover its value despite seasonal pressures – Governor Addison
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 […]
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Fiscal policy implementations have so far been consistent with targets under IMF deal – Addison
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 […]
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Business
Cedis is relatively stable in Q1, we expect stability to continue – BoG Boss
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 […]
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Business
Naira woes: Nigeria going through the crisis we in Ghana went through in 2022 – Addison
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 […]
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