Economics

Probe Uni-Pass deal – IMANI petitions parliament

Franklin Cudjoe, IMANI President

Policy think-tank IMANI has petitioned the Speaker of Parliament to institute a probe into the 10-year Uni-Pass contract signed between the Ministry of Trade and Ghana Link Network Services Limited—in collaboration with their foreign partners Customs Uni-Pass International Agency (CUPIA) of Korea Customs Services—to introduce Uni-Pass to the ports system.

The request for a Parliamentary enquiry into the Uni-Pass deal, according to IMANI, is to “prevent disruption to Ghana’s progress on trade facilitation”.


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Petrol, diesel, LPG to fall by 5.8%, 4.8%, 2.4% – Hadzide

Fuel Prices in Ghana

A fall in inflation coupled with the strengthening of the cedi and the falling of prices of fuel on the international market should spur a further reduction in the price of fuel at the pumps for consumers, Ghana’s Deputy Minister of Information Pius Enam Hadzide has said.

The prices of petrol, diesel, Liquefied Petroleum Gas (LPG) are expected to fall by 5.8%, 4.8, and 2.4%, respectively.


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Fuel prices to remain unchanged – COPEC-GH

Fuel Prices in Ghana

The Chamber of Petroleum Consumers-Ghana (COPEC-GH), has predicted that fuel prices will remain stable at the pumps in the second pricing window of December 2018 despite a dip in world market prices by between 6% and 9%.

“Our checks with the various Oil Marketing Companies (OMCs), however, indicate a notice of the full restoration of the Price Stabilisation and Recovery Levy (12p for gasoline and 10p for gasoil) back into the price build-up.


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Policy rate could go down further – Addison

Ernest Addison

Ghana could cut interest rates early next year if inflation continues to drift lower, the central bank governor said on Tuesday.

“I could easily see the policy rate going further down,” Ernest Addison told Reuters on the sidelines of a banking conference.

Asked how soon the 17 per cent rates could be cut, he added: “Our next meeting is in January and after that we have another meeting in March, so, in between now and March.”


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IMF chief visits Ghana Dec. 16

Christine Lagarde

The Managing Director of the International Monetary Fund (IMF), Christine Lagarde is set to visit Ghana from 16 – 18 December 2018, Deputy Minister of Information, Pius Enam Hadzide, has said.

“The visit comes weeks ahead of Ghana’s conclusion of the IMF programme”, Mr Hadzide told journalists on Wednesday, 12 December 2018 at the ministry’s mid-week news briefing.


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100-yr $50bn bond'll end "hand-to-mouth" status – Ofori-Atta

Finance Minister Ken Ofori-Atta

The decision by the government to raise a $50 billion ultra-long-term bond over a period of 100 years “is not intended to derail our debts sustainability path, but rather to enhance it”, Finance Minister Ken Ofori-Atta has explained.

Presenting the 2019 Budget Statement and Economic Policy of the government on the theme: “Putting Ghana Back to Work”, Mr Ofori-Atta said on Thursday, 15 November 2018 that the government announced its intention to issue longer-dated sovereign bonds this year as part of “our bilateral engagement with other countries”.


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#2019Budget: Akufo-Addo gov't overborrowing – Terkper

Former Finance Minister, Seth Terkper,

Former Finance Minister, Seth Terkper, has said even though the New Patriotic Party (NPP), while in opposition, kicked against borrowing by the Mahama administration, the Akufo-Addo government is even borrowing more than his predecessor did.

The government has promised in the 2019 budget to undertake massive infrastructure projects next year.

Mr Terkper says the government “cannot do infrastructure on a revenue base which is not forthcoming in a domestic revenue mobilisation which was promised that they will do outside existing revenue flows”.


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Emir of Qatar lauds Akufo-Addo for ‘governing Ghana well’

The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani and President, Nana Addo Dankwa Akufo-Addo

The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani and President, Nana Addo Dankwa Akufo-Addo

The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, has praised the President, Nana Addo Dankwa Akufo-Addo, for his leadership over the last 22 months since he took power.

He told the president he is “governing Ghana well”, and that the fundamentals of the Ghanaian economy, coupled with the prevailing social indicators, points to a “good example” worthy of emulation by others on the continent.

The Emir of Qatar made this known when President Akufo-Addo paid a day’s reciprocal official visit to Qatar, at the invitation of the Emir.


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What Togbe Afede said about the creation of Oti Region

Togbe Afede XIV, Agbogbomefia of the Asogli State

Togbe Afede XIV, Agbogbomefia of the Asogli State in the Volta Region and the President of the National House of Chiefs recently spoke extensively on the proposed creation of Oti Region in a radio interview with Accra based Citi FM.

Below is a transcribed version of the interview with Vivian Kai Lokko of Citi FM on October 25, 2018

(TRANSCRIBED)

My name is VIVIAN KAI LOKKO.

Our guest for tonight is TOGBE XIV, the President of the National House of Chiefs, as well as the Executive Chairman of the World Trade Centre.


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