By Dr. Richmond ATUAHENE Abstract The present paper examines the issue of the current Ghana’s public debt crisis, its underlying causes and lessons for the present and the future. After providing a historical discussion, we show that the austerity of the last four years has been unsuccessful in stabilizing the debt while, at the same […] The post The
By Delphina QUARSHIE Have you ever wondered why God chose a garden, specifically the Garden of Eden, out of all places, to be humanity’s dwelling place? You may also not have stopped to reflect on the fact that, before his arrest and crucifixion, Jesus retreated to pray in the Garden of Gethsemane. Thus, we see […] The post More than just a garden:
Once the new Cash Reserve Requirement (CRR) policy becomes effective, it is expected to see approximately GH¢16.2billion – US$1.2 billion flow from banks to the Bank of Ghana (BoG). CRR is a rule set by central banks requiring commercial banks to keep a portion of their deposits – local and foreign currency – as cash […] The post Editorial:
Zoomlion Ghana Ltd., as part of its corporate social responsibility, has made a cheque donation for GHC25,000 to support the treatment of 8-year-old Akua Ankumah. Akua has been diagnosed with Acute Lymphoblastic Lukemia (ALL) and is currently at the Korle-Bu Teaching Hospital receiving treatment. She needs urgent care of bone marrow transplant and other chemotherapy […] The post
Day two of the highly anticipated ‘Back to Your Village Food Festival,’ hosted by Citi FM and Citi TV, is set to enthral attendees today at the forecourt of the Accra Metropolitan Assembly. Following the resounding success of the festival’s inaugural day on Saturday, March 30, where patrons were treated to a tantalizing array of […] The post Back to
Citi FM and Citi TV’s eagerly anticipated ‘Back to Your Village Food Festival’ set to tantalize palates takes off today, Saturday, March 30, 2024. Formerly known as the “Back to Your Village Food Bazaar,” the two-day annual event, which will end on Sunday, March 31, returns with a fresh new outlook, promising an unforgettable culinary […] The post Citi
Bernard Avle, the General Manager of Citi TV and Citi FM, has stated that the organisation’s ‘Back to Your Village Food Festival’ goes beyond simply celebrating differences. It’s about recognizing the underlying unity that binds Ghanaians together. “We are not here because we are different, we are here because we are similar. We are not […] The post ‘Back
By Joshua Worlasi AMLANU In a comprehensive update on Ghana’s debt restructuring programme, Finance Minister Dr. Mohammed Amin Adam has highlighted the government’s ongoing efforts to restore fiscal sustainability and foster economic recovery. Speaking at a press briefing, the Minister emphasised the significance of upcoming discussions with bondholder representatives to advance restructuring engagements. “In the […] The post
Professor John Gatsi, economist and Dean of the University of Cape Coast Business School, has maintained that the indicative exchange rate used by the Bank of Ghana (BoG) is not reflective of the cost structure of business in the country. According to the central bank, the cedi depreciated at 6.8 percent against the US dollar […] The post Relative
The Bank of Ghana (BoG) has received a US$300 million facility from the World Bank as budgetary support. According to a report by Citi News, the BoG’s account was officially credited on Wednesday, March 27, 2024. The release today is the first of three $300 million World Bank operations for disaster response and resilience in […] The post $300m World Bank budgetary support hits
By Joshua Worlasi AMLANU ([email protected]) The Monetary Policy Committee (MPC) of the Bank of Ghana has announced its decision to maintain the monetary policy rate at 29 percent, citing persisting upside risks to inflation. Dr. Ernest Addison, Governor of the central bank, disclosed the rationale behind the decision during the 117th MPC meeting’s press briefing […] The post
Minister of Finance, Dr. Mohammed Amin Adam, has disclosed that Ghana’s agriculture sector expanded by 4.5 percent for the year 2023. The minister in the ‘2024 1st Monthly Press Briefing on the Economy’ added that the livestock, crops, and fishing subsectors also expanded by 6.5, 4.8, and 4.1 percent respectively. “Agriculture sector which expanded by […] The post Ghana’s
The post Ghana’s Economy: We must admit that our economy is ‘Dollarized’ – Paul Eric Ofori appeared first on Citinewsroom - Comprehensive News in Ghana.
By Buertey Francis BORYOR The Institute of Statistical Social and Economic Research (ISSER) of the University of Ghana has called for a review of the Special Drawing Rights (SDRs) allocation framework. The SDRs is an international reserve asset created by the IMF to supplement the official reserves of its member countries. ISSER proposed that allocations under SDRs, an international […] The post
A number of West African musicians have attracted international attention in recent years, contributing to the growth of the continent's music scene. The post Burna Boy, Davido and Wizkid rated as most popular musicians in West Africa; no Ghanaian artist listed first appeared on 3News.
By Kizito CUDJOE, Abidjan – Côte d’Ivoire A policy analyst and advocacy officer in sovereign debt management, Shem Joshua Otieno, has raised concerns about Africa’s financial challenges amid a persistently austere global economic landscape. He lamented that as of 2024, the continent finds itself entangled in a web of debt, with a staggering total of […] The post Africa’s
The value of the economy in 2023 stood at GHS841.6bn relative to GH¢ 614.3bn representing a GH¢227bn increase from the previous year. This was driven by the dominance of the services sector which contributed GH¢357.34 billion or 45.6% of Gross Domestic Product (GDP), followed by industry with GH¢247.941 billion (31.7% of GDP), and agriculture at […] The post Value
Products of Right to Dream It is a well-documented fact and one worthy of discussion that seven players who have graduated from the Right to Dream Academy, represented their Read More... The post Right To Dream Academy DNA (1)…The
By Kizito CUDJOE The Public Utilities Regulatory Commission (PURC) has issued a strict directive aimed at the Electricity Company of Ghana Limited (ECG) to ensure the financial stability and operational integrity of the energy sector. The directive, issued under Sections 3 and 24 of the Public Utilities Regulatory Commission Act, 1997 (Act 538), follows ECG’s […] The post
Government Statistician, Professor Samuel Kobina Annim has said that Ghana’s economy grew by 2.9% in 2023, from the 3.8% recorded in 2022. The Services sector contracted by -1.2%, he added. Commenting on this development, an economist Dr Theo Acheampong asked on his X platform whether this is a further sign of relative macro-stabilisation. “Further signs […] The post Ghana’s
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