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Ghana gets IMF $600m loan

The International Monetary Fund (IMF) Board has agreed to lend $600 million to Ghana to help the country sail through the challenges of the current global economic crisis. According to information reaching ghanabusinessnews.com, the facility is to support Ghana’s poverty reduction programme in view of the country’s current precarious economic …

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Executives believe next six months will be good for business

Business executives are optimistic that the next six months would be good for the operations of their companies, an Association of Ghana Industries (AGI) survey has revealed. About 70 per cent of the 276 company executives, who took part in the survey, held the view that although business performance was …

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Parliament waives tax on credit facility for Winneba Hospital

Parliament on Wednesday waived a tax element of 2,414,790 Euros on a loan agreement between Ghana, the Netherlands and Fortis Bank for the construction and equipping of a new Winneba District Hospital in the Central Region. Presenting the report on the waiver, Mr James Klutse, Chairman of the Finance Committee …

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Depreciation of Ghana cedi a big challenge to businesses

The depreciation of the national currency, the Ghana cedi against major currencies of the world such as the US dollar and British pounds has been cited among others as the biggest challenge to businesses in the country. The results of a survey conducted by the Association of Ghana Industries (AGI) …

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Smuggling affects CEPS revenue collection

Petroleum tax collection by Customs Excise and Preventive Service (CEPS) in the Upper East Region fell short by 81.82 per cent during the first quarter of the year.      It collected GH¢387,351 out of its target of GH¢473,400.      In the area of general custom duty collection, it fell short …

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West African judges attend seminar on money laundering in Accra

A seminar on Economic and Financial Crimes for Judges of the English speaking countries in West Africa, began in Accra on Monday with a reminder that the fight against money laundering and terrorist financing are important for all countries.      Mrs Betty Mould-Iddrissu, Attorney General and Minister of Justice, said …

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Court orders arrest of magistrate for multiple sale of land

An Accra Circuit Court on Tuesday ordered the arrest of a former juvenile court magistrate who was allegedly involved in multiple sale of land.      Anna Jane Ghartey failed to appear before the court when the case was called.      The court presided over by Mr. Iddrisu Mahamadu therefore issued …

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Bank of Ghana MPC meets to review economy

The Monetary Policy Committee (MPC) of the Bank of Ghana meets today Tuesday July 14, 2009 to review the economy and declare on the prime rate. The prime rate is currently pegged at 18.5%. Information reaching ghanabusinessnews.com says the meeting which began at 10:00am and is chaired by the governor …

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NGO holds stakeholders meeting on national budget

Foundation for Grassroots Initiatives in Africa (GrassRootsAfrica), a non-governmental organisation (NGO) has organised a stakeholders meeting in Kombosgo in the Upper East Region, to broaden public understanding about the 2009 National Budget. GrassRootsAfrica, which seeks to strengthen political and social rights and poverty reduction in the region, organised the meeting …

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Ghana teachers get 17% salary increase

The Ghana National Association of Teachers (GNAT) has signed an agreement with government for a 17 per cent salary increment for teachers, while awaiting the implementation of the Single Spine Salary Structure early next year. The increment takes effect from January 1, the Assistant Greater Accra Regional Secretary of GNAT, …

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