Consumer inflation dropped by 1.8 percentage points to 8.5 percent in April, driven by a large drop in food inflation, which fell by 4.3 percentage points to 6.5 percent in the month, according to data from the Ghana Statistical Service.
Former Chief Executive of the Microfinance and Small Loans Centre (MASLOC), Dr Stephen Amoah, has said reports that vehicles previously rejected by the Ghana Private Road Transport Union (GPRTU) as part of a failed transaction have been abandoned and are rotting away.
Recent tax and fuel price hikes could cause modest increases in inflation after April, but this is likely to be offset by lower food inflation in the August to September harvest season, Courage Kingsley Martey, a senior analyst with Databank, the asset management company, has said.
Pandemic-induced restrictions to international travel caused a sharp fall in the number of passengers that moved through the Kotoka International Airport in 2020, with international traffic hitting its lowest level in almost two decades.
Drivers on the various ride-hailing apps in Ghana have started a two-day strike action to pile pressure on managers of the apps to reset their systems to increase ride fares.
Finance Minister, Ken Ofori-Atta, has moved to dispel criticisms that Ghana’s rising debt stock is the result of poor management of the economy, citing South Africa, United Kingdom, Rwanda and Zambia as experiencing similar pandemic-induced debt challenges.
Government’s domestic debt securities issuance calendar for the second quarter of 2021 issued last week through the Ministry of Finance is facing challenges and is expected to be revised shortly.
The Ghana Gas Company Ltd has revealed that within the last four years, it has phased out the 52 Chinese expatriate staff running its technical operations at the Atuabo plant in the Western Region.
A financial expert, Dr. Carl Odame-Gyenti, has justified the need for the country to monetise its gold royalties, explaining that it will help reduce Ghana’s heavy budgetary risk.
Ghanaian businessman, Dr. Kofi Amoah has expressed doubt that Ghana’s economy will be able to grow exponentially, owing to the country’s excessive borrowing and the poor management of borrowed funds.
With a public notice titled “All goods things must come to an endâ€, management announced that “Coco Lounge, Urban Grill and Carbon are closing their doors for the last time as of today, 28th March 2021†– bringing fine dining, world-class entertainment experience and established brands to a surprising end.
