The Country Representative of the International Monetary Fund (IMF) Albert Touna Mama has said mounting public debt before the Covid-19 pandemic has exacerbated the impact of the virus on sub-Saharan African countries like Ghana.
Ecobank, the leading pan-African banking group, has won the coveted prize of Africa’s Best Bank for Corporate Responsibility in the Euromoney Awards for Excellence 2020.
Board Chairman of the Ghana Revenue Authority (GRA), Professor Stephen Adei has spoken highly of the not-so-long-ago deployed port management system; the Integrated Customs Management System (ICUMS).
Energy sector players are pushing for a paradigm shift in the industry post-Covid-19, whereby African countries will embark on massive infrastructural investment to ensure they can weather a future pandemic situation like the world is facing now.
Over the past five years, the Ghana Revenue Authority has struggled to raise enough domestic revenue – a situation which has pushed the government to resort to borrowing to finance its activities.
More than US$4.7bn worth of projects lined up in Ghana’s hydrocarbons sector have been postponed indefinitely after the coronavirus scourge decimated the oil market and dampened investors’ appetite, the Chief Executive Officer of the Petroleum Commission, Egbert Faibille Jnr., has said.
The Ghana Stock Exchange says more than 262.2 million shares valued at GH¢ 194 million were traded in the first six months of 2020 despite the uncertainty the COVID-19 pandemic created on the bourse.
The Covid-19 outbreak has had a sharp negative impact on economies worldwide. On 24th June, 2020, the IMF projected a contraction in global real GDP of 4.9 percent in 2020.
A total mineral export revenue of US$4.5bn was realised by large-scale mining companies operating in the country in 2019, data from the Ghana Chamber of Mines has revealed.
Ghana’s budget deficit for 2020 will swell to more than double the legal limit because of the impact of the coronavirus on the economy, undoing years of fiscal discipline that was supposed to mark the end of persistent financial bailouts.
