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Sanctions letter to Ghana is an error - AfDB insists

The African Development Bank (AfDB) insists that the letter it sent to Ghana about sanctions resulting from the non-payment of the country's debt is an error.

According to documents made available to the Daily Graphic by the AfDB, the bank wrote to withdraw the sanctions it imposed in error after its attention had been drawn to the fact that the country had long made good its obligation to the bank.

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5 year bond oversubscribed despite fears of a possible snob by investors

Government’s 5 year domestic bond issued yesterday March, 26, 2015 by the Bank of Ghana was highly patronized by investors despite fears they may ditch the bond over recent comments by former deputy governor of the bank of Ghana Dr Bawumia on the economy.

A deputy finance minister Cassiel Ato Forson told Citi Business News he fears investors may not patronize the bond due to the recent analysis of the economy by a former Deputy Governor of the Bank of Ghana Dr Mahamadu Bawumia in his lecture on the IMF deal.

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Gov’t likely to permanently ban inland rice imports

The Ministry of Trade and Industry is likely to place a permanent embargo on the importation of rice through the country’s inland borders.

Government since November 2013 has restricted the importation of rice to the Kotoka Airport and the Tema and Takoradi seaports.

muntalla

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Ghana going to the IMF was a mistake - Kofi Amoah

An accomplished Ghanaian entrepreneur, Dr Kofi Amoah, is not in favour of the Ghana government’s decision to resort to the International Monetary Fund (IMF) for a bailout to salvage the ailing economy.

The West African nation is expecting about $940 million from the IMF over a three-year period to inject life into a careworn economy.

ammmoah

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Don’t lay-off any core technical staff, Petroleum ministry warns Tullow

The Ministry of Petroleum has directed Tullow Ghana Limited, not to lay-off any core technical staff after announcing plans to layoff some workers of the company as a result of the slump in crude prices on the international market.

According to a statement signed by the Communications Consultant to the Energy Ministry, Edward Bawa,” it is the position of the Ministry that Ghanaians playing core technical roles in the company should not be affected in the process”.

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