The Bank of Ghana (BoG) has received a US$300 million facility from the World Bank as budgetary support. According to a report by Citi News, the BoG’s account was officially credited on Wednesday, March 27, 2024. The release today is the first of three $300 million World Bank operations for disaster response and resilience in […] The post $300m World Bank budgetary support hits
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
Minister of Finance, Dr. Mohammed Amin Adam, has disclosed that Ghana’s agriculture sector expanded by 4.5 percent for the year 2023. The minister in the ‘2024 1st Monthly Press Briefing on the Economy’ added that the livestock, crops, and fishing subsectors also expanded by 6.5, 4.8, and 4.1 percent respectively. “Agriculture sector which expanded by […] The post Ghana’s
The post Ghana’s Economy: We must admit that our economy is ‘Dollarized’ – Paul Eric Ofori appeared first on Citinewsroom - Comprehensive News in Ghana.
By Buertey Francis BORYOR The Institute of Statistical Social and Economic Research (ISSER) of the University of Ghana has called for a review of the Special Drawing Rights (SDRs) allocation framework. The SDRs is an international reserve asset created by the IMF to supplement the official reserves of its member countries. ISSER proposed that allocations under SDRs, an international […] The post
The UN Security Council for the first time has passed a resolution demanding an immediate ceasefire in Gaza. Fourteen countries voted in favour of the resolution; the US, Israel’s main ally, abstained. Israeli air strikes kill at least 22 Palestinians in central Gaza’s Deir al Balah region and 30 in Rafah in the south. Palestinians […] The post Israel’s
Ghanaian Dancehall artiste, Shatta Wale has said that the shortcomings of actor, Funny Face are reflective of the problems bedeviling the creative industry. The post Creative industry challenges part of Funny Face’s predicament – Shatta Wale first appeared on 3News.
By Kizito CUDJOE, Abidjan – Côte d’Ivoire A policy analyst and advocacy officer in sovereign debt management, Shem Joshua Otieno, has raised concerns about Africa’s financial challenges amid a persistently austere global economic landscape. He lamented that as of 2024, the continent finds itself entangled in a web of debt, with a staggering total of […] The post Africa’s
The value of the economy in 2023 stood at GHS841.6bn relative to GH¢ 614.3bn representing a GH¢227bn increase from the previous year. This was driven by the dominance of the services sector which contributed GH¢357.34 billion or 45.6% of Gross Domestic Product (GDP), followed by industry with GH¢247.941 billion (31.7% of GDP), and agriculture at […] The post Value
Government Statistician, Professor Samuel Kobina Annim has said that Ghana’s economy grew by 2.9% in 2023, from the 3.8% recorded in 2022. The Services sector contracted by -1.2%, he added. Commenting on this development, an economist Dr Theo Acheampong asked on his X platform whether this is a further sign of relative macro-stabilisation. “Further signs […] The post Ghana’s
FA Cup defending champions, Dreams FC, will cross swords with Division One campaigners, Soccer Intellectuals in this year’s MTN FA Cup quarter finals. The Dawu-based side, who defeated King Read More... The post Dreams Face Intellectuals… In MTN
Latest data from the Ghana Statistical Service indicates that the cumulative growth of the economy stood at 2.9 percent in 2023. This is a 0.9 percentage points drop from the 3.8 percent recorded in 2022 but higher than the government’s revised target of 1.5 percent for the period under review. The fourth quarter also expanded […] The post Ghana’s economy expanded by 2.9% in 2023
By Korsi DZOKOTO In the realm of economic management, Ghana stands as a stark example of the profound impacts of mismanagement and corruption on a nation’s fiscal health. The story of Ghana’s economic trajectory is one of promise overshadowed by poor governance, inflated project costs, and unchecked borrowing. As we delve into the intricate web […] The post Counting the cost
Ghanaian 100m sprint champion, Benjamin Azamati says the country should expect nothing but the best from him ahead of the men’s finals. The 23-year-old qualified to the finals of the men’s 100m finals by finishing second in his semis heat with a time of 10.41s. Azamati will be coming up against Barnabas Aggerh, Itsekir Usheoritse […] The post “Expect nothing but
Illegal profits from forced labour worldwide have risen to the “obscene” amount of $236 billion per year, the U.N. labour agency reported Tuesday, with sexual exploitation to blame for three-fourths of the take from a business that deprives migrants of money they can send home, swipes jobs from legal workers, and allows the criminals behind […] The post Criminals
Economist and senior lecturer at the University of Ghana, Dr. Adu Owusu Sarkodie, has stated that a consistent decline in inflation has resulted in drastic price reductions as the economy continues a steady rebound. Speaking on TV3’s Ghana Tonight programme on Monday, March 18, Dr. Adu Sarkodie pointed out that there have been improvements in […] The post Reduction
The Chairperson of the African Union (AU) Peace and Security Council (PSC), H.E Ambassador Emilia Ndinelao Mkusa, has emphasized that suspending countries from the AU due to unconstitutional regime changes is insufficient as a deterrent. Addressing the press ahead of the 2nd AU Reflection Forum on Unconstitutional Changes of Government, Ambassador Mkusa acknowledged the limitations […] The post Suspension
Israeli Ambassador to Ghana, Shlomit Sufa, has called for concerted efforts to support victims of the Israel-Gaza conflict, particularly women affected by the events of October 2023. During a press conference at her residence in Accra on March 14, 2024, Ambassador Sufa highlighted the urgency of addressing sexual violence collaboratively. “This is a great moment […] The post Gaza-Israel
Kwaku Kwarteng, Chairman of the Finance Committee of Parliament and MP for Obuasi West has attributed Ghana’s current economic crisis to decades of reckless public expenditure and mismanagement by successive governments. In an interview with Accra-based JoyNews, the Obuasi West legislator noted that COVID-19 and Russia’s invasion of Ukraine are not solely responsible for the […] The post Kwaku
…global players exploring opportunities within AfCFTA By Kestér Kenn KLOMEGÂH The scramble for the multidimensional control of the African continent by global players is a geopolitical reality. In order to be part of this geopolitical arena, foreign players have been devising different mechanisms for revitalizing partnership and strengthening cooperation with Africa, says Dr. Babafemi A. […] The post
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