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Recapitalisation efforts on track, profitability rebounds Stability Fund offers additional support Bank of Ghana Governor Dr. Ernest Addison has stated that recapitalisation of banks following the Domestic Debt Exchange Programme (DDEP) should continue without any significant hitches, on account of their performance in 2023, as well as the Ghana Financial Stability Fund (GFSF). Speaking during […] The post Banks
The World Bank Group yesterday, in principle, welcomed the agreement on key parameters of the proposed debt restructuring for Ghana reached by the Official Creditors’ Committee under the G20 Common Framework. This agreement, which is consistent with the Joint WB-IMF Debt Sustainability Framework, represents a critical milestone toward restoring debt sustainability in the country. “This […] The post
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The government is urgently seeking to build on the momentum of its debt restructuring efforts, following the recent agreement with official creditors to restructure debts extended to the country up until December 2022. Having overcome this hurdle, Reuters reports that government officials will re-engage with its international bondholders from next week, seeking to continue discussions […] The post
The government has announced that it has reached an agreement with its Official Creditors in restoring debt sustainability in line with the International Monetary Fund (IMF) programme targets. The government is seeking to secure the 2nd tranche of the IMF bailout after securing the 1st tranche in 2023. The government embarked on a Domestic Debt […] The post IMF
Kidney patients undergoing treatment at the Korle Bu Teaching Hospital are urgently appealing to both governmental and non-governmental institutions for assistance in acquiring additional dialysis machines and consumables for the facility. The outpatient department of the renal unit was forced to close down in May 2023 due to financial constraints, resulting in the tragic death […] The post Korle
A Tax Analyst, Francis Timore Boi, has lauded the government’s move to introduce the Vehicle Income Tax (VIT). The Ghana Revenue Authority (GRA) announced that effective January 1, 2024, ride-hailing vehicle owners will be taxed. However, this has been met with resistance from the Online Drivers Union, who lament that as key stakeholders, the GRA […] The post Tax
As nations, businesses, communities and stakeholders grapple with devastating effects of wildfires, unprecedented heat-waves, high flooding levels and other unusual climate impact effects, there is, and has been, concerted effort by private and public interest groups and regulators to adopt sustainable and conservative practices to preserve our environment from further degradation – particularly through ESG […] The post
Parliament has approved a loan agreement of $150 million from the International Development Association of the World Bank for the West Africa Coastal Areas Resilience Investment Project 2. The project aims to strengthen the socio-economic resilience of coastal communities through good coastal management practices and support the government’s efforts to reduce the vulnerability of coastal […] The post Parliament
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