Finance Minister-Designate Dr. Cassiel Ato Forson has played down concerns about the economic impact of scrapping the betting tax, citing its relatively minor contribution to the national coffers. The tax generates less than GHC50 million annually, a drop in the bucket compared to the country’s overall revenue. Dr. Ato Forson’s remarks came during his vetting...
Author: Baina Media (Baina Media)
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Ato Forson, Jinapor and Ayine to be vetted today
Parliament is set to commence the vetting of the first batch of ministerial nominees presented by President John Dramani Mahama today, Monday, January 13, 2025. The vetting process will begin with the examination of Dr. Cassiel Ato Forson, the Member of Parliament for Ajumako-Enyan-Esiam and current Majority Leader, who has been nominated as the Minister-designate...
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EC Publishes Official Presidential Results for 275 Constituencies
Ghana’s Electoral Commission has officially released the results of the 2024 presidential election, with one constituency’s results still pending. According to the updated results, National Democratic Congress (NDC) candidate John Mahama secured victory with 6,591,790 votes, representing 56.42% of the total votes cast Mahama defeated his closest contender, Dr Mahamudu Bawumia of the New Patriotic...
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Gov’t to borrow GHȼ200bn from T-bill market in 2025 – Report
The government is expected to borrow approximately GH₵200 billion from the Treasury bill market in 2025, representing a reduction from an estimated GH₵220 billion in 2024, according to Databank Research. This projection reflects an average weekly borrowing of GH₵3.9 billion, down from GH₵4.2 billion in the previous year. In its 2025 Ghana Market Outlook report,...
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ORAL has gathered sufficient evidence on looted state properties – Ablakwa
The Member of Parliament for North Tongu and Chairman of the Operation Recover All Loot team, Samuel Okudzeto Ablakwa, has announced that the team has gathered substantial evidence of looted state assets by appointees of the previous administration. According to Ablakwa, the collected evidence will soon be presented to President John Dramani Mahama for further action. Weeks...
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Ato Forson Announces Plans to Seek More IMF Support for Ghana
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...
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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...