Joy Business Report @1

The Bank of Ghana may increase the policy rate for the third consecutive time this year, following the increase in inflation rate to 29.8% in June 2022.

The International Monetary Fund (IMF) has assured Ghana that it will move fast and do much as it can to support the country come out of the economic challenge it find itself.

It is emerging that 87% of public sector workers earn less than ¢3000 as basic monthly salary. This was revealed at a stakeholder engagement forum between the leadership of the Trades Union Congress (TUC) and the Social Security and National Insurance Trust (SSNIT).

Ghana’s current inflation rate of 29.8% (June 2022, year-on-year) is exactly the same rate recorded in 2003 when the country was under the Highly Indebted Poor Country Programme (HIPC), which started in 2002.

Economist Professor Lord Mensah is warning that government may be forced by the International Monetary Fund (IMF) to cap Central Bank pre-financing of government’s budget to not more than 5% of expected revenue in a year.

Ghana’s stock exchange ends first half of this year with negative yet-to-date return of 24.13% in dollar term for investors.

The Bank of Ghana (BoG) has indicated that it will appeal a Court of Appeal ruling directing the central bank to reverse the revocation of the license of Savings and Loans Company UniCredit in 2019 .

he Head of Financial Stability at the Bank of Ghana, Dr. Joseph France, has warned the general public against linking their Ghana cards to their bank accounts through links sent via social media.

Delegation from the International Monetary Fund (IMF) meets government officials here in Accra to commence discussions on a bailout for the country.

Government targets about $3 million from IMF as signals emerge that negotiations may last for more than 7 months.