Some Oil Marketing Companies (OMCs) have started increasing prices of fuel at the pump stations. Total has taken the lead, selling a liter of diesel and petrol at ¢6.90 respectively. the upward adjustment is as a result of rising crude oil prices on the international market. The price of crude oil is presently going for about $82 on the world market.

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Government would ultimately opt for financial support from the International Monetary Fund if liquidity or cash constrains grows, Fitch Ratings has stated. “The government has so far chosen not to pursue a regular IMF programme. However, we believe the authorities would ultimately opt to seek IMF financing if liquidity strains mount. The IMF classifies Ghana as being at high risk of debt distress, but we do not believe that an IMF programme would entail a debt restructuring.”

The Government of Ghana may consider applying for a debt restructuring under the G20 Common Framework, if the country fails to access the international capital market in the first-half of 2022. This is as a result of rising interest rate on its international bonds.

Minister for Communications and Digitalisation, Ursula Owusu-Ekuful has hinted that plans are underway to introduce a mobile application that will aid self-registration in the ongoing national SIM card registration exercise. According to her, only about two million of the population as of the end of last week have been able to register successfully, a situation she describes as very low. This is due to the number of SIM cards yet to be registered, hence the need for the ‘app’ to facilitate the exercise.

The banking industry is excited about the concept of the e-Cedi or digital cash as 70% of bank executives interviewed are convinced that the use of this form of currency will be prominent within three to five years, the PwC Ghana Banking Survey 2021 has revealed. Such bank executives of 20 out of 23 banks, however, stressed that user experience will be at the core of product acceptance among the public, and drive demand, use, and penetration.

Plans are far advanced for the establishment of a ‘Traders Bank’, President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng, has revealed. He told Joy Business that the specialised bank will deal with the life-long challenge of high interest rates that face Ghana’s informal traders.

Accra court throws out request by italian oil firm to halt process of Unitisation with Springfield.

Inflation to rise in coming months as fuel prices impact in cost of goods and services -Fitch solutions

The World Bank has pledged its commitment to a comprehensive debt solutions for countries with high debt vulnerabilities that do not have the financial resources to respond to the Covid-19 crisis. According to its Country Director, Pierre Laporte, the comprehensive debt solutions will involve four elements- debt suspension, debt reduction, debt resolution, and debt transparency.