Business

Ghana concludes four-year IMF programme with high marks

Ghana concludes four-year IMF programme with high marks

The International Monetary Fund (IMF) has concluded its eighth review of support for Ghana under the Extended Credit Facility signaling an end to the four-year programme. “This will make available to Ghana the cumulative amount of SDR132.84 million (about US$185.2 million),” the Bretton Woods Institution said after its review. It added: “The authorities have achieved […]

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  March 21, 2019   No comments
Ghana gets $185m from IMF after final review of fund programme

Ghana gets $185m from IMF after final review of fund programme

The International Monetary Fund (IMF) on Wednesday completed the 7th and 8th reviews under the Extended Credit Facility (ECF)-supported arrangement. The completion of the two final reviews on March 20, 2019, will make available to Ghana the cumulative amount of about $185.2 million, the IMF said in a release issued on Wednesday. “Considering the authorities’ […]

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  March 21, 2019   No comments
Over-fishing reducing catch, increasing import needs

Over-fishing reducing catch, increasing import needs

In 2018, Ghana imported an estimated US$ 311.4 million worth of seafood and fish products, resulting from overexploitation of the marine stocks in the country’s own territorial waters which is further expected to continue to limit domestic seafood production over the next few years, until domestic stocks replenishes. This is making Ghana’s still small, but […]

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  March 21, 2019   No comments
‘We’re very much on track’ in making Ghana Africa’s trade hub – Ahomka-Lindsay

‘We’re very much on track’ in making Ghana Africa’s trade hub – Ahomka-Lindsay

Deputy Minister for Trade and Industry, Robert Ahomka-Lindsay says government is on track in meeting its commitment of making Ghana the preferred hub for businesses in Africa. To achieve this vision, he disclosed that government is working to create an enabling environment through a number of interventions including the introduction of seven reform strategies that […]

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  March 21, 2019   No comments
Promoting ocean management is central to Ghana’s development – IMO

Promoting ocean management is central to Ghana’s development – IMO

Mr Jonathan Pace, an official of the International Maritime Organisation (IMO), says promoting ocean management is central to Ghana’s development in an environment characterised by technological progress and globalisation. He recounted that in 2008, Ghana adopted a National Transport Policy (NTP 2008), which was currently under review to take stock of development in the transport […]

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  March 19, 2019   No comments
Banks profit growth drop significantly

Banks profit growth drop significantly

Banks’ profit growth for 2018 declined significantly compared to 2017. The industry’s net profit after tax of GH¢2.40 billion in 2018, signalled a slower growth of 12.5 percent year-on-year in December 2018 compared with 21.7 percent growth a year earlier. According to reports by Bank of Ghana, both interest income and interest expense respectively declined […]

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  March 18, 2019   No comments