Finance Minister Dr. Cassiel Ato Forson has called on his staff to provide their collective support in steering Ghana towards economic stability. Ghanaian-themed art He made the appeal during an inaugural meeting with the top management of the Ministry of Finance on Thursday, January 23, 2024, following his approval byContinue Reading
Fan Milk PLC has apologised to motorists and the public for the inconvenience caused by a truck accident involving one of its third-party logistics partners. The incident occurred on the Achimota-Tesano overhead bridge on Saturday evening, January 25, 2025. In a statement, the company expressed regret over the incident, whichContinue Reading
Ghana’s gross international reserves increased by $US1.101 billion in December 2024 to hit US$8.982 billion. This is equivalent to 4.0 months of import cover. According to data from the Bank of Ghana, the country’s reserves stood at $6.31 billion in January 2024 but dropped to $5.99 billion in March 2024.Continue Reading
Ghana’s total public debt fell by GH¢24.1 billion month-on-month to GH¢761.0 billion in November 2024, the Bank of Ghana has disclosed in its January 2025 Summary of Financial and Economic Data. This was a result of external debt restructuring which has trimmed Ghana’s external debt component. In dollar terms, theContinue Reading
The Ghana cedi lost 2.4% in value to the US dollar in the first month of 2025. This is compared to a depreciation of 1.3% during the same period last year. According to the Bank of Ghana, the local currency traded at a rate of GH¢15.06 to the American greenbackContinue Reading
President Mahama’s nominee for Finance Minister, Dr. Cassiel Ato Forson, has pledged to reduce Ghana’s inflation to single digits through robust fiscal measures, particularly by controlling government expenditure. Speaking during his vetting on January 13, Dr. Forson outlined a series of proposals aimed at stabilizing the economy, including cutting unnecessaryContinue Reading
The Ghana cedi lost 0.48% to the dollar last week, increasing its year-to-date loss to 1.27% with just 13 days into 2025. Cedi loses grounds against dollar, but records gain against pound; one dollar equals GH¢15.85 The local currency closed closing at a mid-rate of GH¢15.68 to one American greenback.Continue Reading
The Finance Minister designate, Dr. Cassiel Ato Forson has disclosed that government will form an Independent Value for Money Office to help cut waste in the public sector. Answering questions before the Appointment’s Committee of Parliament on January 13, 2025, he stressed that wasteful expenditure is the bane to Ghana’sContinue Reading
Demand for treasury bills soared on the money market as T-bills were oversubscribed by more than 55%. However, interest rates continued to surged, increasing the government’s cost of repaying the short-term instruments. According to action results by the Bank of Ghana, the government got a remarkable GH¢8.075 billion from theContinue Reading
It’s obvious that without power the economy will grind to a halt. It’s the engine for economies and industries. Its underlying role in our affairs is too costly to overlook. Yet the most important ministry in terms of the economy has no financial support. The lack of permanent financial structureContinue Reading