The International Monetary Fund (IMF) Executive Board has approved the final review of Ghana’s US$3 billion Extended Credit Facility (ECF) programme, marking the successful conclusion of the bailout initiative launched in May 2023 in response to the 2022 economic crisis. The approval, announced on Monday, July 27, 2026, unlocks a final disbursement of US$371 million...
Category: Business
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Finance Ministry Blames Costly Policy Choices for 2022 Economic Crisis
The Ministry of Finance has attributed Ghana’s 2022 economic crisis to what it described as a series of costly policy decisions, including reckless spending, excessive borrowing, and weak accountability. Presenting the 2026 Mid‑Year Fiscal Policy Review, the Ministry said the downturn was not accidental but the result of deliberate choices that undermined fiscal stability and...
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Ghana, China Deepen Economic Cooperation as Delegation Visits Trade Ministry
Ghana and China have reaffirmed their longstanding economic partnership as a seven‑member delegation of Chinese entrepreneurs and academics paid a courtesy call on the Ministry of Trade, Agribusiness and Industry in Accra on Monday, July 27. The delegation, led by Professor Haoxing Zhao, Dean of the China‑Africa Economic and Trade Research Institute and founder of...
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Ibrahim Mahama Denies Alleged Interest in VALCO
Businessman Ibrahim Mahama has dismissed claims that he is seeking to acquire the Volta Aluminium Company (VALCO), describing the allegations as false and malicious. His attention was drawn to a demonstration by the Labour Union of VALCO, during which some participants alleged that he was interested in taking over the company. In a statement issued...
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“We Spend Only What We Have” — Finance Minister Defends Government Expenditure in Mid‑Year Review
Presenting the 2026 Mid‑Year Fiscal Policy Review in Parliament on Thursday, the Minister for Finance, Dr. Cassiel Ato Forson, rejected claims that government spending has slowed, insisting that resources are being deployed responsibly and transparently. “In recent times, a narrative has emerged suggesting that this Government is not spending enough. Nothing could be farther from...
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Finance Minister Reports $15 Billion Boost from Gold Sector Reforms
Finance Minister Dr. Cassiel Ato Forson has disclosed that government reforms in the gold sector delivered an additional $15 billion in foreign exchange inflows, a development that has markedly reinforced Ghana’s external reserves and supported exchange rate stability. Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr. Forson explained that the...
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Ghana International Bank Pledges Partnership to Strengthen Export Sector
The Chief Executive Officer of Ghana International Bank (GHIB), Mr. Ian Greenstreet, has pledged the bank’s commitment to partnering with government to strengthen Ghana’s export sector and support economic growth. Mr. Greenstreet made the pledge when he led a delegation from GHIB to pay a courtesy call on the Minister for Trade, Agribusiness and Industry,...
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CSA Warns of Rising Restaurant and Food‑Vendor Impersonation Scams
The Cyber Security Authority (CSA) has issued a public alert warning of a surge in online impersonation scams targeting restaurants and food vendors, with financial losses tripling in the first half of 2026. Between January and June, the CSA recorded 112 cases compared to 61 over the same period last year, with losses rising sharply...
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Bank of Ghana Warns Against Rejection of Coins
The Bank of Ghana has issued a stern reminder to the public that all Ghana cedi coins remain valid legal tender and must be accepted in transactions, warning that refusal to do so constitutes a criminal offence under the law. In a public notice signed by the Bank’s Secretary, Ms. Aimee Vyda Quashie, the central...
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Oil Market Volatility SPARKS Economic Concerns
The Bank of Ghana has cautioned that renewed geopolitical tensions in the Middle East are driving fresh instability in global energy markets, with potential implications for Ghana’s economy. Governor Dr. Johnson Pandit Asiama, addressing the opening session of the 131st Monetary Policy Committee (MPC) meeting, noted that hostilities around the Strait of Hormuz have reignited...