An Economist with the Institute of Statistical, Social and Economic Research, (ISSER), Professor Robert Darko Osei, is cautioning of a further increase in interest and inflation rates over a further delay in the release of the IMF bailout cash. He argued that, government’s decision to borrow more to meet expenditure like wages in an election … Read more
The Petroleum Holding Fund has accrued $21.6 million out of Ghana’s total lifting of crude oil from the Jubilee Field in 2015 Deputy Minister of Finance, Mona Quartey has disclosed Friday. Breaking it down, at a stakeholder’s engagement in Accra, she said the Stabilization Fund alone has realized $15.2 million whilst the Heritage Fund received … Read more
Deputy Finance Minister, Mrs. Mona Quartey, has repeated the government’s unwavering commitment to ensure transparency in the spending of the oil and gas revenue to propel the growth of the economy and fight poverty. She indicated that it would do everything to make the extractive industry more beneficial to the people. She said this in … Read more
For the country to achieve its lofty local content goals, the financial services sector, led by the banks, would have to cast off its fear of the risks and huge capital required, and venture into funding local companies offering services in the upstream oil and gas industry, government has said. Millison Narh of the central … Read more
Deputy Minister of Finance, Mona Quartey has allayed fears of public sector workers whom she said are too worried to discharge their duties because of sanctions prescribed under the Public Financial Management Act 921. The Act which happens to be one of Finance Minister Seth Terkper’s major legacies seeks to regulate and maintain prudent management … Read more
The Ministry of Finance is due to present data on the financial status and performance of some state-owned enterprises (SOEs) to the International Monetary Fund (IMF) later this month to pave the way for its Executive Board to meet and approve the country’s last review report. The statistics would include the government’s plans for the … Read more
Government has disclosed it is working to present data on the country’s energy sector to the International Monetary Fund (IMF) which should lead to the release of the third tranche of the bailout funds. According to the Finance Ministry, the information has become necessary as the Fund considers the power sector as one of the … Read more
Investors’ worries over government’s spending bill this year has heightened amid uncertainty over the International Monetary Fund (IMF) three-year budgetary support deal with the country, reports have suggested. A team from the IMF has left the country after discussions with government over certain macroeconomic targets and provisions in legislations passed recently ended inconclusively and indications … Read more
The visiting International Monetary Fund (IMF) staff mission to Ghana on Monday began work to assess the country’s performance in completing work on some targets under the fund program. The exercise could impact positively on the proposed IMF board meeting date and the release of some $500 million from Ghana’ donors. The IMF team, which … Read more
Ghana’s cedi, the world’s worst-performing currency this year, weakened as the government ruled out an International Monetary Fund bailout, stoking concern it will miss targets to narrow a budget deficit according to reports from Bloomberg New York. The currency retreated for the first time in five days against the dollar, dropping as much as 6.4 … Read more