The Information Minister has said some dollars will be injected into the economy soon to halt the sharp depreciation of the Ghanaian Cedi. For the breakdown, he said $750 million is expected from the Afremix Bank this week, whilst the cocoa syndicated loan will add $1.3 billion.

Fitch Solutions is forecasting a 43% depreciation of the cedi to the US dollar in 2022. It is also projecting a 30.1% fall in value of the cedi to the American currency in 2023, which means the woes of the local currency will not get better anytime soon.

The Ghana Civil Aviation Authority (GCAA) has cautioned Delta Airlines against using its aircraft with registration number N-195DN for flights to Accra.

The Bank of Ghana has indicated it will soon close down licensed forex bureaus that are not complying with the foreign exchange law.

One mining firm in the country has already sold $6 million to Bank of Ghana. Another $14 m will be sold soon even before an industry framework is finalized.

Bank of Ghana targets foreign exchange earnings of companies in the extractive sector to boost dollar reserves after record hike in policy rated 22%.

Over $600 million worth of chicken is dumped onto the Ghanaian market annually. This has compounded the woes of Ghana’s poultry industry which is on the verge of collapse due to the lack of regulation to check the dumping of chicken onto the market.

Banks wrote off ¢1.3 billion in the first six months of this year as provision for bad debt.

Prices of petroleum products at the pumps are likely to go up by 5.5% in spite of reduction on the world market, the Chamber of Petroleum Consumers (COPEC) has stated.

The government is set to begin formal negotiations with the IMF for a program from next month. According to the Finance Ministry, the country’s Enhance Domestic Program has also been put together to guide these discussions.