BUSINESS

Convener of the Individual Bondholders Forum (IBF) Senyo Hosi, has said regarding the domestic debt exchange programme that in an unfortunate oppressive fashion, the government has shown total disregard for the contractual rights of Individual bondholders and has made no effort to structure reasonable consultations with individual bondholders. In the process, the IBF said, Ghanaians have been presented with painfully ...

The West African Gas Pipeline Company Limited (WAPCo), has said it will undertake a coordinated and planned 10-day maintenance shutdown of its Takoradi Regulating and Metering Station. This shutdown, scheduled for 12th to 22nd January 2023, is to allow for the replacement of some critical valves at the facility aimed at securing the safety and integrity of the Takoradi Station, ...

The government’s debt exchange programme is experiencing strong pushback from individual bondholders who say the government has not provided them with the requisite information to make an educated decision. According to some individual bondholders interviewed on JoyNews’ PM Express, the government has intentionally held back information, and instead is coercing them into signing onto the exchange blindly. One bondholder, Samuel ...

The Trades Union Congress (TUC) has raised concerns about government’s failure to engage labour unions before launching its Domestic Debt Exchange programme. TUC says it was gravely concerned about the government’s programme because of its potential negative impact on worker’s pensions. The TUC’s reaction followed the government’s move to rely on a softer payment plan with institutions and individuals who ...

Former Deputy Managing Director of the National Investment Bank (NIB), Alfred Thompson has said that main opposition are unable to give alternative ideas after rejecting the Debt Exchange programme announced by the Finance Minister Ken Ofori-Atta. He questioned what the ideas of the National Democratic Congress (NDC) are in managing the economy. Speaking on the Big Issue with Berla Mundi ...

An Economist and Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has said excessive borrowing from the Bank of Ghana (BoG) by government is undermining the local currency, the Cedi. He stated in a tweet that the way to stabilise the Cedi against the major trading currencies is to “stop undermining the currency through excessive ...

A brief and marginal relief may soon be on the way as the Chamber of Petroleum Consumers (COPEC) in its latest checks ahead of the second oil pricing window in November is stating that petrol and diesel are projected to see a price decline while the price of Liquefied Petroleum Gas (LPG) is expected to be adjusted upwards. Ahead of ...

The lack of confidence in Ghana’s market is one of the issues affecting the performance of the Cedi against the Dollar, Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has said. He has proposed to the government to take very drastic confidence-building measures to stop the fall, including severe cuts in spending, cuts in staff ...

The Member of Parliament for Adansi-Asokwa, K Hammond, has accused the Bulk Oil Distributors and Oil Marketing Companies of contributing to the rampant hikes in fuel prices. Mr Hammond, who is also a member of the Mines and Energy Committee of Parliament, said inasmuch as prices of petroleum products may be high on the international market, firms within the value ...

Programmes Director of the Peasant Farmers Association of Ghana, Dr Charles Nyaaba has expressed doubt that food prices will go down in December. This is due to the challenges farmers are going through including high cost of doing business, he said. Dr Nyaaba told TV3’s Roland Walker on the Big Issue, Friday November 4 that “depending on the commodities, food ...