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| We will adhere to zero financing of budget – BoG |
 The Bank of Ghana has promised to adhere to the zero financing of the budget going forward.
This follows the signing of a Memorandum between the Central Bank and the Ministry of Finance in 2023. In addition, it will continue with policy measures aimed at optimizing the Central Bank’s investment portfolio and operating cost mix to bolster efficiency and profitability. This were captured in the 2024 Financial Statement audited by Deloitte as part of its policy solvency measures. Due to the above, the Central Bank said the Board is continuing to take actionable steps to ensure a recovery and build-back of a positive equity position within the medium to long term. It added that the policy solvency outcome for 2024 is consistent with the view held in 2023 that the Bank will continue to operate efficiency and effectively on a going concern basis and achieve its policy mandate, despite the significant losses recorded at that time. “From a macroeconomic perspective as macroeconomic conditions continue to improve and inflation declines toward the medium-term target, interest rates will also decline and as a result Cost of Open Market Operation will reduce”, the statement explained. It added that a decline in inflation will support exchange rate stabilization. |
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London-bound plane with 242 on board crashes into doctors' housing in India A London-bound passenger plane crashed in the Indian city of Ahmedabad on Thursday and all 242 people on board were believed killed, with the jet smashing into buildings housing doctors and their families. Air India said there were 169 Indian passengers, 53 British, seven Portuguese, and a Canadian on board the flight bound for London |
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ArcelorMittal inaugurates world-class iron ore concentrator By Stephen G Fellajuah Yekepa, Nimba County, June 6, 2025: ArcelorMittal Liberia has commissioned the country’s first-ever world-class iron ore concentrator plant, marking a major milestone in the company’s Phase II expansion and a transformative step for Liberia’s mining sector. The inauguration ceremony took place on Thursday, June 5, 2025, in Tokadeh, Nimba County. It …The post ArcelorMittal inaugurates world-class iron ore concentrator appeared first on Liberia |
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Liberia launches Health Insurance Policy for Vulnerable Citizens In a move to expand healthcare access across Liberia, the Government has officially launched the country’s first health insurance policy for vulnerable citizens. By Kruah Thompson Monrovia, June 6, 2025: The policy, a pilot project, was unveiled at the Ministry of Information, Cultural Affairs, and Tourism’s (MICAT) weekly press briefing on Thursday, June 5, 2025. …The post Liberia launches Health Insurance Policy for Vulnerable Citizens appeared first on Liberia news |
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Boakai suspends import Tariff on Rice Executive Mansion, Monrovia, June 6 – President Joseph Boakai has issued an Executive Order suspending import tariffs on rice. Capitol Hill, June 6, 2025: A release from the Executive Mansion says the move is to ease the economic burden on Liberians and stabilize the price of rice. The Mansion in its release said, “Recognizing the …The post Boakai suspends import Tariff on Rice appeared first on Liberia news The New Dawn Liberia, premier resource for latest |
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Africa is losing $40b a year to illicit financial flows in the extractive sector Mr. Antonio Pedro, the Deputy Executive Secretary of the Economic Commission for Africa (ECA), has said that Africa is experiencing significant losses, estimated at around $40 billion annually, due to illicit financial flows (IFFs) in the extractive sector.The post Africa is losing $40b a year to illicit financial flows in the extractive sector appeared first on Ghana Business |
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Cedi appreciation will reflect on prices of goods and services overtime – stakeholders Representatives of traders and captains of industry have justified the slow pace in reduction of goods and services despite the relative stability of the cedi against the United States dollar and other major foreign currencies on the interbank trade market. The post Cedi appreciation will reflect on prices of goods and services overtime – stakeholders appeared first on Ghana Business |