Note that these rates may be different at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra. On the Interbank forex rates from the Bank of Ghana today, August 6, 2022, the Ghana Cedi is trading against the dollar at a buying price of 7.6432 and […]

The government is seeking to raise GH¢750 million in Ghana following the passage of the Value Added Tax Amendment bill, which introduces the E-Vat policy. The tax measure broadens the scope of the existing laws to cover electronic commerce, provides for the electronic issuance of a tax invoice, upfront payment of Value Added Tax by […]

A business operator in the Somanya District in the Eastern Region says he is taking advantage of the Electricity Company Ghana’s erratic power supply situation in the area. According to the entrepreneur, he charges phones as a part-time business using a generator in the absence of power supply from the national grid. For his services, […]

Policy Analyst, Bright Simons, has revealed that Ghana had exited its previous International Monetary Fund (IMF) programme prematurely. According to him, the government had failed to meet certain structural benchmarks which were required to complete the programme in 2019 and instead had opted for waivers, assuring the IMF that it would meet those benchmarks outside […]

A Professor at the University of Ghana Business School, Lord Mensah has suggested to the government ahead of the 2022 mid-year budget review, to control its discretionary expenditure. He said the government must, at this moment, focus on spending on projects that will keep the country afloat. For instance, he said, with the construction of the […]

Vice President of Imani Africa, Mr Bright Simons has said, ahead of the mid year budget review by the Finance Minister Ken Ofori Atta today Monday, July 25, the Minister must admit failings with some of the policies that were resisted in Parliament especially the e-levy. Speaking in an interview with TV3 ahead of the […]

Former Speaker of Parliament Professor Aaron Mike Oquaye has challenged the government to focus on saving and investing in local industries as a solution to challenges in the economic situation in the country. Speaking as a guest of honour at the 60th anniversary launch of the University of Ghana Political Science Department Friday, July 22, […]

Latest figures released by the Bank of Ghana put Ghana’s total public debt stock, as of June 2022, at USS 54.4 billion or GH¢393.4 billion. In Dollar terms, the debt dropped by about $4 billion in the first 6 months of the year, from $58.6 billion in December 2021 to $54.4 billion in the first […]

The Vice President, Dr. Mahamudu Bawumia, has reiterated his conviction in the indispensable role technology plays in the transformation of economies in the 21st Century. Speaking at the launch of the Ghana Electronic Pharmacy Platform (ePharmacy) – Africa’s first national-scale ePharmacy in Accra on Monday, the Vice President, who has been credited with Ghana’s on-going […]

Majority of Ghanaians have lost confidence in the economy as half of them fear for the worse, according to the latest Afrobarometer survey. About 87 per cent of Ghanaians said the economy was “heading in the wrong direction” with 50 per cent, saying that economic conditions in the country were bound to get worse in […]

President Akufo-Addo says the New Patriotic Party will take Ghana out of the current economic crisis that has led the nation to seek a bailout from the IMF. According to the party has a track record of lifting Ghana out of crisis not their performance will win them the 2024 polls “We took Ghana out […]

A spokesperson for former President John Mahama, Felix Kwakye Ofosu, has challenged Vice President Mahama to take responsibility for the country’s economic crisis. Mr. Kwakye Ofosu said the former President was not to be blamed for the country’s current attempts to source support from the International Monetary Fund. “It is the terrible mismanagement and the […]

An International Monetary Fund (IMF) staff team led by Carlo Sdralevich has concluded its first visit to Accra, Ghana, to assess the current economic situation and discuss the broad lines of the government’s Enhanced Domestic Program that could be supported by an IMF lending arrangement. The IMF team met with H.E. Vice President Bawumia, Finance […]

Players in the agricultural sector have advised the government to direct part of the inflows to be secured from the International Monetary Fund (IMF) into the sector. The players said increased investment into the sector, backed by solid policy measures, was crucial to help stabilise the rising cost of food products in the short to […]

On Friday July 1, government announced President Nana Addo Dankwa Akufo-Addo has directed the Minister of Finance, Ken Ofori Otta, to roll Ghana on an IMF programme to help fiscal consolidation. Ghana’s latest return to the Fund follows unprecedented global economic crisis emanating from the covid-19 pandemic and the more recent Russia-Ukraine war. Ghana is listed among several […]

Officials of the International Monetary Fund (IMF) will commence negotiations with the government today on a possible programme to support Ghana’s homegrown economic policies. The IMF team – led by the Mission Chief for Ghana, Carlo Sdralevich – will have in-person meetings with the Finance Ministry, the Economic Management and the Presidency from July 6 […]

A former Chair of Parliament’s Finance Committee, Mark Assibey-Yeboah, has asked the government not to take negotiations with the International Monetary Fund for granted. “We should be careful about negotiating a programme,” he told Umaru Sanda Amadu on Face to Face on Citi TV. A delegation from the IMF is scheduled to start talks with the Ghanaian government […]

The Finance Ministry has disclosed that government will not terminate the 1.5% levy on electronic transactions, despite its application to the International Monetary Fund (IMF) for economic assistance. This was contained in a statement from the Ministry on Tuesday, addressing key questions regarding government’s ongoing engagement with the Fund. Regarding the controversial levy, the Ministry […]

Former Finance Minister, Seth Terkper, does not think Finance Minister Ken Ofori-Atta will have a problem engaging the International Monetary Fund (IMF), despite his opposition to the bailout programme. Though Mr. Ofori-Atta has spoken of his preference for local solutions to Ghana’s revenue challenges, Mr. Terkper said these do not constitute a formal opposition to […]

A team from the International Monetary Fund (IMF) is set to arrive in Ghana today, Tuesday, July 5, 2022, ahead of a discussion with the government of Ghana on a bail-out request made to the fund. Negotiations will begin on Wednesday, July 6, 2022. President Nana Akufo-Addo on Friday, July 1, 2022, directed the Finance […]

The University Teachers Association of Ghana is calling on the government to ensure that it puts in place permanent measures to address the challenges facing the Ghanaian economy. According to the association, it is problematic that the country continues to go to the IMF almost every four years. The president of the association, Professor Solomon […]

Chief Executive of the Ghana Enterprises Agency, Kosi Yankey Ayeh, has disclosed that about ¢520 million have been invested into the Micro, Small and Medium-scale enterprises sector in the last three years. According to her, this has been able to elevate some sector players to new levels of their businesses. Speaking at the launch of […]

Former Finance Minister, Seth Terkper has described the Electronic Transfer Levy (E-levy), as an overhyped revenue generation policy. According to him, many Ghanaians are now trying to find ways to avoid paying the levy. The E-levy, which was amended from 1.75% to 1.5% is a tax that applies to electronic money transfers, including wallet-to-bank, bank-to-wallet […]

The Chairman of Parliament’s Finance Committee, Kwaku Kwarteng, says should the government assess that the e-levy is not a helpful policy, it will be withdrawn. His comment comes on the back of a tweet by a leading member of the New Patriotic Party (NPP), Gabby Otchere-Darko, which said the e-levy is not living up to […]

Ranking Member on the Finance Committee of Parliament, Dr. Cassiel Ato Forson says Ghana’s economy will become a disaster if the government does not let go of its “empty pride” and seek support from the IMF. According to him, the country’s economy is headed in the direction of Sri Lanka’s and if action is not […]