The Finance Minister on Monday announced that Ghana may lose abouth GHS9.5 billion in the fight against the COVID-19 pandemic, a situation that may move the 2020 budget deficit to over 7 percent. This will be 2.5 percent of Ghana’s revised GDP. “Speaker, the total estimated fiscal impact from the shortfall in petroleum receipts, shortfall … Read more
The Minister of Finance, Ken Ofori-Atta is hopeful that the new budget to be presented in Parliament in July 2020, will reposition Ghana’s economy to meet the global impact of the COVID-19 outbreak. He says discussions are already underway among Finance Ministers in Africa to find mechanisms to restore the gains achieved in the face … Read more
The Finance Minister has told Parliament that $8.9 million was spent to print the new ¢100 and ¢200 notes. Responding to questions on the Floor of Parliament on Tuesday, Ken Ofori-Atta said $5.39 million has already been paid. “Information obtained from the Bank of Ghana (BoG) shows that the cost of printing the ¢100 and … Read more
Uganda’s finance ministry has asked the Ugandan embassy in China to refund money sent “erroneously” to their account, after it emerged they sent almost ten times more than planned. The Ugandan Cabinet had approved $61,800 (£47,700) to be sent to China for students in Wuhan, the epicentre of the coronavirus outbreak. But the education ministry … Read more