A senior Economist at the Institute of Economic Affairs (IEA), Dr. J. K Kwakye has attributed Ghana’s challenge of controlling inflation to the redenomination of the cedi in 2007. The erstwhile Kufuor administration carried out a cedi redenomination exercise in 2007. Government, at the time said the purpose of the exercise was to address past episodes of high inflation rates and other economic challenges. But delivering the IEA’s 2014 mid-year economic review of the country, Dr. Kwakye insisted {......}

Ghana’s borrowing streak, which has become a subject of debate in recent days, continues unabated. Parliament was last Friday compelled to approve various loan agreements sourced from its development partners by the government, totaling US$495,788,879. However, the approval did not escape criticism from the Minority, which demanded value for money in such agreements. Among the projects are Phase 1 of the Kumasi Central Market Redevelopment and the acquisition of buses and spare parts {....}

The Supreme Court has directed the Bank of Ghana (BoG) to submit in fourteen days their statement of case, in the current suit filed against it by a private legal practitioner, Dr John Ephraim Baiden, on the continuous depreciation of the cedi. Dr Ephraim Baiden hurled the BoG to the Supreme Court for failing to stabilize the cedi seeking a declaration that upon a true and proper interpretation of Article Article 183(2)(a) of the constitution which says “The Bank of Ghana shall promote and maintain the {....}

Nollywood actor, Desmond Elliot will be venturing into the game of politics come 2015 The actor who is running for a seat in the Lagos State House of Reps in an interview over the weekend with Nigerian Tribune, said his aim for venturing into politics is to give back to society. He said, “I feel God has helped me thus far and I want to give back through politics that will be favourable to the youths. The worst part of our national life is that the level of corruption has not allowed youths to understand {.....}

A second-year day student of the Agona Swedru School of Business (SWESBU), Miss Lvy Owusu was on Monday found hanging in an uncompleted building at Agona Swedru. A Police spokesman pleading anonymity who made this known to newsmen at Agona Swedru on Tuesday, said the mother of the girl, Madam Ekua Amoafowah told them that the girl did not go to school on Monday because she owed school fees. The policeman said the woman claimed that she asked {.....}

I will advise President Mahama to use his office to stop any group of unemployed youth and adults with their fat-feeding minders on free taxes that I hear are planning a demonstration against the United States Embassy for suggesting that we all truly sacrifice, fight grand theft and corruption, stop the talk, be prudent monetarily and fiscally. Whilst we have every right to be angry at hearing the obvious and the truth, we should be minded that as long as Ghana begs the US government for money {....}

Sacked Director of Human Resources (HR) at the Korle-Bu Teaching Hospital (KBTH), Tahir Abdul-Islam Mahmoud, has petitioned the then Minister of Health against the decision of the hospital’s Board to remove him. In a long petition dated May 24, 2014 and sent to the then Minister of Health, Sherry Ayittey, Tahir Abdul-Islam Mahmoud claims he was victimized by the Board Chairman Eddie Annan and Acting Chief Executive Officer (CEO), Reverend Albert Okpoti Botchwey who has been {....}

EL was able to prove why he is one of the best rappers in Africa at his 'Best Africa Rapper' concert on Saturday at the Alliance Francaise centre. Before ending his performance and thanking the audience, especially his fans, he chipped in that come this December 2014, his label BBnZ will be bringing over Fugees female member, Lauryn Hill and some surprise international artistes to Ghana for a concert. Artistes who supported EL on Saturday include Sarkodie, J-Town, Stargo, Pplug, Illshaz, Dee {.....}

Employment and Labour Relations Minister, Haruna Iddrisu says government is engaging organised labour with the hope of talking them out of an intended nationwide demonstration on Thursday. "The wish of government is that this strike shouldn't happen," he revealed in an interview with Joy News Editor, Dzifa Bampoh. Ahead of the planned demonstration on Thursday, members of the Industrial and Commercial Workers Union (ICU) have hit the streets protesting harsh living conditions in {....}

Solar lanterns being distributed to rural folks in the North Gonja District in the Northern Region are being sold at Ghc80 instead of Ghc30, TV3 has gathered. The situation is making it difficult for the rural folks - for whom the lanterns were specially made - to buy them. The lanterns are being distributed to reduce the overdependence on kerosene lamps for lighting. The Ministry of Energy and Petroleum initiated the distribution of the lanterns under the Solar Lantern Distribution Programme. The Programme {....}

Labour consultant, Kwesi Danso Acheampong has indicated that the current economic difficulties in the country may breed “very learned armed robbers.” He told Joy Newsnite Monday the government’s failure to address the ongoing labour impasse, would compel them to use their ‘sophisticated minds’ to satisfy their frustrations. Mr. Acheampong continued there have not been avenues for job creation and the existing ones may be folding up because of high corporate taxes. As a result, the graduates {.....}

Mr Mathew Amponsah, Chief State Attorney, on Monday told the Financial Court hearing the case of Mr Alfred Agbesi Woyome, a businessman that the judgement debt paid to the accused person was illegal. He alleged that the accused person obtained the judgement from a court of competent jurisdiction by fraud. Mr Amponsah made this known during a cross-examination of the accused in Accra. He said government never engaged the accused person on any project as is being alleged {.....}

President John Dramani Mahama on Monday charged his ministers to roll up their sleeves and get to work, as there is a lot of critical and urgent work to be done. “Our people are tired of listening to fine talk, what they want to see is the deliverables that will make their lives better…I, therefore, call on each of you to hit the ground running with no time to waste,” he added. President Mahama said this when he swore in 11 ministers and deputy ministers of state at the Flagstaff House, Kanda. The new  {.....}

An Accra Circuit Court has sentenced Mohammed Mumuni, and Ali Mohammed, both porters to 15 years imprisonment for conspiracy to commit crime and 20 years for robbery. The sentences are to run concurrently. Initially, the two convicts pleaded not guilty to the charges. Chief Superintendent of Police Duuti Tuaruka told the court that the complainant, Ephraim Nii Ayi Otoo, is a Caterer whilst the accused persons live in the same vicinity at Russia, a suburb of Dansoman. He said on {....}

Chinese branches of fast food chains, including McDonald’s and KFC, have stopped using meat from a supplier in Shanghai following allegations it sold them out of date meat. According to Xinhua, the state-owned news agency, authorities in Shanghai have ordered the suspension of operations at Shanghai Husi Food Co. Reports by local media said that Husi had re-processed expired meat products. McDonald’s and KFC said they had stopped using meat from Husi. In a statement posted on its {.....}

Nigeria’s militant Islamists are in control of the key town of Damboa in north-eastern Nigeria, a local vigilante leader has told the BBC. The vigilante force defending the town fled on Sunday, and Islamist group Boko Haram’s black flag is now flying over Damboa, he said. At least 40 people were killed when Boko Haram attacked Damboa on Friday, the vigilante leader added. The group has been fighting since 2009 to create an Islamic state in Nigeria. In April, it sparked international outrage by {.....}

As the central bank pins its hopes on the cocoa syndicated loan and Eurobond issuance to break the fall of the local currency, David Brocke, Director, Risk Assurance, of PwC, believes inflows from the two loans, estimated at US$3billion, will do little to assuage the pressure on the cedi. The cedi has depreciated by 27 percent this year as shortage of the dollar continues to dictate the price at which the greenback is traded. After several attempts to stem the cedi’s decline yielded little results {.....}

Sports Minister Mahama Ayariga has revealed that Ghana’s team for the Commonwealth Games will have to buy its equipment in Scotland ahead of the event which begins on the 23rd of July. He explained that the procedure to execute the purchase of equipment delayed and the Ministry has now been forced to make funds available for the athletes to get their equipment and get ready for the event. He was addressing the contingent on Monday in Ayrshire, Scotland when he paid them a visit {....}