The Second Deputy Governor of the Bank of Ghana, Mrs Elsie Addo Awadzi, has called on all stakeholders in the banking industry to chart a new path that will ensure a stable and resilient banking sector for generations to come.
The Managing Director (MD) of the International Monetary Fund (IMF), Ms Christine Lagarde, has cautioned developing countries such as Ghana to halt piling debt or remain venerable to sudden tightening of global financial conditions and higher interest costs.
Equity market indices posted mixed performances, with the index for the financial sector weighed on by speculative actions, profit talking and heightened uncertainties ahead of the deadline for the new minimum capital requirements for banks.
AS part of the many suggested measures to help halt the depreciation of the Ghana cedi against the major foreign currencies, including the United States (US) dollar, a Senior Adjunct Fellow at the Institute of Economic Affairs (IEA), Dr Eric Osei Assibey, has advised the Bank of Ghana (BoG) to clamp down on the activities of the illegal forex traders, popularly known as ‘Black market operators”.
A report on ‘Trends of Poverty and Inequality’ in Ghana has revealed that based on 2017 population projections, a total of 6.8 million people were captured as poor and, therefore, could not afford to spend GH¢4.82 per day in 2016/17 (GH¢1,760.80 per year in 2016/17).
The Director of the Animal Research Institute under the Council for Scientific and Industrial Research (CSIR-ARI), Prof. Emmanuel K. Adu, has decried the importation of meat products into Ghana arguing that the phenomenon is crippling the activities of local producers.
The Controller and Accountant General, Mr Eugene Asante Ofosuhene, has allayed the fears of the public, especially the business community, that the introduction of the seven per cent withholding Value Added Tax (VAT) is a new tax regime.