Fri03242017

Last updateThu, 02 Mar 2017 9am

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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.

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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 to lose US$40b of oil revenue over bad contracts – Expert

A Scotland-trained Ghanaian oil and gas management expert Frank Toledzi has said Ghana needs to go for the production sharing agreement (PSA) rather than the hybrid modern concession one as far as contracts signed with international firms in the oil and gas industry are concerned, if the country wants to get the best out of its oil.

In his estimation, the country could earn US$40 billion more than the US$20 billion projected by the International Monetary Fund and the World Bank, to be earned by the West African country from its oil fields within 20 years.

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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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2000 workers now bound to lose their jobs by June

The challenging business environment continues to result in more job losses in the industrial sector as the number of affected workers has now quadrupled from the initial five hundred and fifty (550).

Latest information from the Industrial and Commercial workers Union (ICU) indicate that about two thousand (2000) workers are now likely to lose their jobs by June unless the business environment improves.   This is based on the official communication the union has received from about 60 major companies (including both local and multinationals).

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