Ghana’s new government, led by President John Dramani Mahama, is considering seeking additional funding from the International Monetary Fund (IMF) to support the country’s economy. This move is aimed at cushioning the economy and addressing the challenges it faces. Economic Challenges Ghana’s economy has been experiencing significant challenges, including a high inflation rate and a...
Author: Baina Media (Baina Media)
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Ghana ranks second in global IMF poverty loans
Ghana ranks as the world’s second country indebted under the International Monetary Fund (IMF) Concessional Lending and Debt Relief Trust. The country holds an outstanding exposure of 2.242 billion Special Drawing Rights (SDR) representing 17% of the total borrowings from the IMF. This is captured in the IMF’s latest financial statements and quarterly reports ending October 31,...
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Ato Forson, Ayine Named to Key Roles in President Mahama’s Cabinet
President John Dramani Mahama has unveiled his first set of ministerial appointments, naming key figures to critical positions. According to a statement from the presidency on January 9, 2025, the nominations have been submitted to Speaker of Parliament Alban Bagbin, aligning with Article 78 of Ghana’s 1992 Constitution. Key Appointments: – Minister for Finance Designate:...
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Govt misses 2024 inflation target as December rate hits 23.8%
The government has missed its 2024 end-year inflation target of 15% as inflation for December 2024 rose slightly to 23.8%, up from 23.0% in November, primarily driven by increases in food prices. This marks the fourth consecutive monthly rise after a five-month decline. Food inflation jumped from 25.9% to 27.8%, while non-food inflation saw a...
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Ghana is open for business again – Mahama tells business community
President John Dramani Mahama has given the business community a thumbs up, reassuring them that Ghana is open for business and ready to welcome investments. In his inaugural address, he emphasized his administration’s commitment to creating a business-friendly environment that fosters growth, prosperity, and maintains Ghana’s position as a key player in the global economy...
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Dumsor looms, Mahama’s govt must act swiftly – IES
The Institute for Energy Security (IES) has issued a dire warning about an impending power crisis, commonly referred to as ‘dumsor,’ urging the Mahama administration to take immediate action. This follows concerns raised by John Abdulai Jinapor, Member of Parliament for Yapei Kusawgu, who cited a severe fuel shortage as the root cause of the...
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Overwhelming NDC majority poses a challenge to Parliament – Bagbin
Speaker of Parliament Alban Bagbin has acknowledged that the significant number of National Democratic Congress (NDC) MPs in the House presents a challenge to parliamentary proceedings. Bagbin, however, assured that he will work diligently to ensure that parliamentary activities remain free from partisan politics. Speaking to journalists after his swearing-in on January 7, Bagbin emphasized...
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The Electoral Commission has suspended the re-collation of results from the Ablekuma North constituency for the second consective time
The Electoral Commission (EC) has suspended the re-collation of results from the Ablekuma North constituency for the second time in a row. This decision comes after the EC faced challenges in obtaining the required pink sheets from the constituency. Reasons Behind the Suspension The EC cited the absence of 62 pink sheets, which are essential...
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Traders Warned: Kantamanto Market Reconstruction Prohibited
The Greater Accra Regional Fire Service has cautioned victims of the Kantamanto market fire against immediately reconstructing the destroyed structures. This warning comes after attempts to rebuild the market, which was ravaged by a devastating fire that destroyed thousands of shops. According to ACFO II Rashid Nisawu, Greater Accra Regional Commander of the Ghana National...
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NDC vows legal action over disputed constituency results
The National Democratic Congress (NDC) is contesting the results of four outstanding constituencies, with three already declared in favor of the New Patriotic Party (NPP). The Electoral Commission (EC) completed the collation of results for Tema Central, Okaikwei Central, and Techiman South on January 6, with NPP candidates emerging victorious. However, the collation process for...