Ghana must legislate new measures to boost revenues by at least 0.5 percent of gross domestic product before the IMF reviews a $918 million credit deal next month, the Fund said. The West African nation must also outline plans to clean up the financial sector and show stronger commitment to cut debt, including limiting its … Read more
The United Nations Industrial Development Organization (UNIDO) with support from the Government of Switzerland through the State Secretariat for Economic Affairs (SECO) officially commissioned an ultra-modern Wood and Furniture Testing Centre at Council for Scientific and Industrial Research (CSIR) – Forestry Research Institute of Ghana (FORIG), Fumesua in the Ashanti Region on Tuesday. The Centre … Read more
The United Nations High Commissioner for Refugees (UNHCR), the UN Refugee Agency, has clarified recent claims by some Liberian refugees that they are no longer protected by the agency. Describing the claims as “erroneous”, UNHCR said the majority of refugees ceased from being recognized as such in 2012. “With the cessation of their refugee status … Read more
The Vice President, Dr Mahamudu Bawumia, left Accra on Tuesday September 12, 2017 for Geneva, Switzerland to attend a High Level Panel Discussion organised by the United Nations Conference on Trade and Development (UNCTAD). The discussion will be under the theme “Accelerating Progress in Building Productive Capacities in Least Developing Countries and Other Vulnerable Developing … Read more
Just like the Ameri Power Deal, Ghana’s IMF Deal is counted among the major controversial contracts inherited by the new Akufo-Addo government from the immediate past Mahama administration. The NPP government has also described it as one of the stumbling blocks on their pathway to achieving their major goal of improving Ghana’s economy. Despite the … Read more
The International Monetary Fund on Thursday weighed into the US health care debate, urging the Trump administration to “protect” the gains achieved under President Barack Obama. As the US Senate continues the heated debate over repealing the Affordable Care Act implemented under Obama, the IMF released its annual report on the US economy and warned … Read more
The United Nations Industrial Development Organization (UNIDO) has started providing technical support to small and medium scale enterprises (SMEs) and companies producing for exports in Ghana. The support to the private sector by the Trade Capacity Building Programme for Ghana, a project implemented by UNIDO with funds from SECO will offer technical assistance to private … Read more
The UN accused Australia Monday of backtracking on a deal to relax its strong stance on asylum-seekers and resettle some refugees now held in overseas detention on home soil. The UN High Commissioner for Refugees (UNHCR) said it had agreed last November to help relocate the boatpeople to the United States on the basis that … Read more
The Civil Society Organisations’ Platform on Ghana IMF programme says an extension of the package will best serve the nation’s interest since it will allow for better implementation of the structural reforms. Dr Godfred Alufar Bokpin, a Lecturer at the University of Ghana Business School, said there was the need to extend the agreement in … Read more
The Civil Society Organisations Platform is advocating an extension of Ghana’s IMF programme, saying the package will best serve the nation’s interest since it will allow for better implementation of the structural reforms. Dr. Godfred Alufar Bokpin, a Lecturer at the University of Ghana Business School, said there was the need to extend the agreement in … Read more
The International Monetary Fund has approved a second tranche of a $12 billion loan to Egypt, praising the country’s tough economic reforms that have fuelled inflation. In a statement on Thursday, IMF managing director Christine Lagarde said the approval of the roughly $1.25 billion tranche showed “the IMF’s strong support for Egypt in these efforts.” … Read more
The UN’s World Food Programme announced Wednesday it has resumed aid deliveries in parts of Syria’s Raqa province for the first time in three years using a newly-opened land route. The deliveries come as thousands of civilians are being displaced by a US-backed campaign to oust the Islamic State jihadist group from the provincial capital … Read more
It’s not the first time that I had the opportunity to travel elsewhere in Ghana where life was a bit different from what was in my eyes ordinary. Indeed in 2012 I joined UNICEF go up North on field visits to some of their education and health projects in some communities in Tamale. It was … Read more
Government has finally communicated to the International Monetary Fund (IMF) its decision to extend the Fund’s programme. Sources say the program would be extended to December 2018, instead of the initial completion date of March 2018. Joy Business learnt the extension was communicated to the Washington-based lender last month. This comes after several debates on … Read more
The country is on track to receive some $116 million from the International Monetary Fund (IMF) in July to support its import and export activities. This would happen after the IMF board meets in July to review the country’s performance under the FUND program. According to the IMF, Ghana has made progress in some targets, like dealing with the … Read more
The lack of details on President Donald Trump’s plans to reform the US economy prompted the International Monetary Fund on Tuesday to cut its growth forecast for this year and next. The IMF in January raised the estimates on the expectation of fiscal stimulus from the Trump administration, but have reverted back to the previous … Read more
Nearly 2,000 people are believed to have drowned trying to cross the Mediterranean this year, the UN’s refugee agency said Tuesday on World Refugee Day, as it reported fresh deaths. “This is among the world’s most dangerous routes — a journey that no one takes lightly,” it said, as witnesses described the horror of watching … Read more
Ghanaian award-winning musician, Okyeame Kwame becomes one of the world’s top celebrity fathers on UNICEF’s “Super Dad Ambassadors” list. The “Super Dads” is a new UNICEF initiative launched to celebrate fatherhood, and highlight the importance of love, play, protection and good nutrition for the healthy development of young children’s brains. In support of the campaign … Read more
The Ghana Investment Fund for Electronic Communications (GIFEC) has been awarded the 2017 World Champion in ICT applications. GIFEC was adjudged the winner in the E-environment category following its 112 public emergency response project it exhibited at the World Summit Information Society (WSIS) Forum held in Geneva, Switzerland. The citation of the award recognized the … Read more
The economy grew by 4 percent in real terms in 2016, overcoming the low-growth environment that resulted from negative spillovers from Nigeria. Inflation turned negative in 2016 (-0.8 percent), reflecting bumper harvest and low oil prices. The fiscal deficit narrowed in 2016, thanks to the authorities’ strong measures to contain expenditure. Prospects for 2017 and … Read more