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Fifteen out of 21 banks that have released their 2022 Audited Financial Statement registered losses last year. This record loss is a result of a difficult economic environment that triggered the Domestic Debt Exchange Programme or debt restructuring, impacting negatively on the operations of the financial institutions. According to their …

Banks, following the domestic debt exchange programme, have recorded huge losses in the first quarter of the year. According to Chief Executive Officer of the Ghana Association of Banks, John Awuah, while the banks had anticipated such significant losses, they had taken a strategic position by agreeing to the DDEP. …

North Tongu Member of Parliament, Samuel Okudzeto Ablakwa has described the Nana Addo Dankwa Akufo-Addo government as one that is neck-deep in the illegal small-scale mining (galamsey) industry. The MP, in a Facebook post dated April 26, said a leaked report on galamsey and how government officials are alleged to …

Populations across the globe are aging at an unprecedented pace, making many countries increasingly reliant on migration to realise their long-term growth potential, according to a new report from the World Bank. The World Development Report 2023: Migrants, Refugees, and Societies, identifies this trend as a unique opportunity to make …

Despite a substantial redemption reprofiling and significantly lowered interest rates, rating agency, Fitch estimates that the present value of Ghana’s public debt-to-Gross Domestic Product (GDP) has been reduced by only one percentage point to slightly above 100% of GDP. This is by using the standard 5% discount rates that applies …

Banks must blame themselves for the huge losses recorded in their books because of heavy concentration of their portfolios in Government of Ghana securities. According to a Senior Finance Lecturer at the University of Ghana Business School, Dr. Benjamin Amoah, the banks must pay the price for failing to undertake …

Financial Economist, Professor Godfred Bokpin has taken a swipe at the Bank of Ghana (BoG) for publishing what he believes is “unreliable” data on the country’s international reserves. According to him, the Central Bank is on record for providing conflicting data, contrary to what the International Monetary Fund and the …

The Head of the World Trade Organisation, Ngozi Nkojo-Iweala has encouraged young Ghanaians to take advantage of Ghana’s booming digital trade, which she said is one of the fastest-rising in the world. The WTO boss is on an official visit to Ghana, and during a meeting with Trade Minister, K.T. …

The Institute of Chartered Accountants Ghana (ICAG) is cautioning government on the treatment of new bonds under the Debt Exchange Programme. According to the institute, this must conform to International Financial Reporting Standards (IFRS) to ensure consistency and transparency. President Sena Dake, says the ICAG has issued some policy imperatives …

Vice President, Dr. Mahamudu Bawumia, has stressed the government’s commitment to regional integration, saying, it is unwavering despite the current economic challenges. According to him, government remains committed to creating a vibrant integrated economy within the African Continent. He was speaking at the 53rd General Assembly of the World Trade …