POLITICS

International rating agency Fitch has further lowered Ghana’s long-term creditworthiness from “C” to “Restricted Default” (RD). Local-currency domestic bond issuance ratings have likewise been lowered to Default (D) from “C.” Fitch also confirmed Ghana’s Long-Term Foreign Currency (FC) IDR at “C” in a statement. Fitch normally does not provide sovereigns …

The inflation rate in Ghana has decreased from 54.1% to 53.6%. This little decline occurs after a 19-month increasing trend. The month of January 2023 is the fall. The Ghana Statistical Service reports that between December 2022 and January 2023, monthly inflation was 1.7%. Moreover, January’s food inflation rate was …

It should be noted that the functional independence of the Auditor-General under Article 187(7)(a) of the Constitution does not grant immunity from legal advice, according to Attorney General Godfred Yeboah Dame. In a statement, Mr. Dame defended his recent request in a letter to the A-G that the Audit Service …

The Vice President of the republic of Ghana, Dr Mahamadu Bawumia has commissioned the National Children’s Library, and a Mobile Library filled with over 1000 books, with a renewed pledge to continually work to close Ghana’s current learning poverty gap and make her a “learning nation”. The two storey Library, …

Former President John Dramani Mahama has intervened in the dispute over the release of an audit report on how the government used COVID-19 monies between Attorney General and Minister for Justice Godfred Yeboah Dame and Auditor General Johnson Akuamoah-Asiedu. Mahama said in a tweet on Wednesday that the letter from …

Isaac Adongo, the deputy ranking member of the finance committee in Parliament of Ghana, has criticized the government for using $3 billion of the IMF’s rescue funds instead of $10 billion from bondholders. As part of crucial steps to obtain board-level approval with the International Monetary Fund (IMF) on a …

Pensioner bondholders’ ongoing picketing for an exemption from the Domestic Debt Exchange Program has been deemed inappropriate by Finance Minister Ken Ofori-Atta. The government will uphold its duties to bondholders, even retirees who freely chose not to participate in the scheme, he claims, adding that the voluntary exercise has come …

After obtaining a participation rate of roughly 85%, the government decided to postpone the settlement deadline for bonds under the domestic debt exchange scheme by another week. The previous deadline for settlement, which was February 14, has now been moved up to February 21 of 2023. The government claims that …

The National Democratic Congress (NDC) youth organizer in the Ashanti region’s Suame Constituency has been granted bail by the Asokwa Circuit Court. Razak Koampa Avoliya was accused of inappropriate behavior, but he entered a not guilty plea. Evans Amankwa led a group of five attorneys who prayed for their client’s …

To monitor the country’s financial sector supervision, the International Monetary Fund (IMF) has assigned a Resident Advisor to the Bank of Ghana (BoG). This month, the fund recruited Irish-Kenyan Leonard Chumo to the central bank to offer technical support and aid in the expansion of the regulator’s capabilities for its …