For many decades, governments have failed to leverage the huge potential of the country’s agricultural sector to make it self-sufficient in food production and also for export to earn some foreign exchange.
An Economist and Professor of Finance at the University of Ghana, Legon, Professor Godfred Bokpin has said the government must engage and build a consensus with stakeholders in the financial sector to ensure a smooth operation of the debt exchange programme.
An economist and statesman, Kwame Pianim, says it is galling for the Finance Minister, Ken Ofori-Atta to lead the country's domestic debt exchange programme (DDEP) because he led the country into bankruptcy.
The government has decided to proceed with paying interest accrued up to January 24, 2023 to all Eligible Holders participating in the debt exchange programme.
Some commercial banks in the country have started sending messages to their individual bond holders to subscribe to the government's Domestic Debt Exchange Programme (DDEP) by close of day Thursday (Jan 12, 2023).
Inflation, the rate at which the prices of goods and services change in a given time, increased from 50.3 per cent in November to 54.1 per cent in December.
The Mobile Money Agents Association Of Ghana (MMAAG) has expressed the hope that the revised rate of the Electronic Levy (E-Levy) of one per cent, which takes off today, will help revive its business, since operations suffered last year when the levy was introduced.
Asante Gold Corporation (ASG) has moved swiftly to protect the interest of its shareholders against what it describes as a group of ‘dissident shareholders”.
The Chief Executive Officer (CEO) of the GSA, Benonita Bismarck, is asking freight forwarders and clearing agents to help create a congenial business environment.
The economy, like many others in the world, is facing one of its worst recessions occasioned by high debts, rising inflation and a volatile exchange rate for the local currency which until last month, was described as the worst performing currency in the world.
The economy has been saddled with a huge debt which has now reached unsustainable levels, prompting various actions by the government to help salvage the situation to restore investor confidence and most of all, position it in better stead to access an International Monetary Fund (IMF) bail.
After the pomp and pageantry that characterised his movement to Saudi Arabian club, Al Nassr, two weeks ago, the chips have fallen where Portuguese football legend Cristiano Ronaldo probably wanted.
Analysts and global economic watchers have warned of an imminent global recession that is feared would further deepen the economic challenges facing the already embattled Ghanaian economy.
Four Ghanaian banks are feared to be highly exposed as government pursue an aggressive debt exchange programme to balance off its books and secure a US$3 billion bailout from the International Monetary Fund (IMF).
Latest figures from GSMA Intelligence have indicated that mobile technology represents a major boost for Ghana and sub-Saharan Africa, with the sector generating about $140 billion for the region in 2021.
Ghana will have to pay more for an International Monetary Fund (IMF) programme after the Bretton Woods institution recently hiked its interest rate on Special Drawing Rights (SDR) from 0.8 per cent to 2.99 per cent.
