Browsing: Economy and Finance

The judgment regarding the issue of whether or not a deputy speaker  of parliament presiding can vote, the Supreme Court Justices concluded that the 138 members on the majority side including deputy speaker presiding  who voted to approve the 2022 budget was valid.  The implication is that the E-levy was passed on 30th November 2021. It also means the 2022 budget was fully approved.

the Ghana Union of Traders (GUTA) has called on regulators of the forex market to fast-track the proposal of making the Chinese Yuan as the only trading currency when doing business with China. They believe such a move will reduce pressure on the Cedi because imports will not be done with US dollars as most Ghana’s import currently come from China because of their cheaper products and cost. 

With the recent hike in petroleum prices in the country, year on year inflation is expected to rise further in the coming month as it would have a severe impact on both food and non food inflation of the Consumer Price Index, (CPI) basket.

The former Executive Director at Standard Chartered Bank, Alex Mould has said, currently the country is practising “cash accounting”, that is, “we pay as we go”. This is ok for steady payments but not good for intermittent large payments like EuroBond principal repayments. 

Another sign before Covid -19 was that instead deploying policies to support the efforts of the Bank of Ghana to manage the currency, the government usurped the constitutional mandate of the Bank of Ghana to establish exchange rate management committee which could not deliver. 

Key ministers in the current Akufo-Addo/Bawumia government are on deliberate spree of deceit to hide the truth about the initiation of the Electronic Transaction Levy (E-Levy).

A finance and energy analyst has assured Ghanaians to lose no sleep as the fallout from the Ukraine invasion will have no immediate effect on prices of our petroleum products. Rather, he advised the managers of the economy and the forex market regulators to put in measures to control the escalating exchange rate as witnessed in the past few weeks.

banks have been directed to delay crediting the salary accounts of ‘some government workers’ for the month of February. 

We now know that a Gulfstream G-550 registered HB-JOE and operated by Premium Jet AG based in Belgium was the executive aircraft chartered to bring in Hon. Adwoa Safo for her vote on the obnoxious E-Levy.

Civil Society Organisations and some journalists have been trained on how to deepen efforts on educating the public and unearthing ‘dubious-minded’ business owners on Beneficial Ownership Transparency (BOT).