General News
Government to borrow 38.959 billion dollars from treasury bills
For the third quarter of 2023, the government will borrow a massive 38.959 billion in treasury notes.
According to the Ministry of Finance’s issuance calendar, this will be accomplished by the issuing of 91-day, 182-day, and 364-day notes.
The short-term debt instruments will be issued on a weekly basis to address the government’s increasing liquidity requirements.
They will be done by the main auction, with settlement being the transaction date plus one working day.
However, the government indicated that the gross borrowing amount is intended to guide the market and may be amended when transaction advertisements are released. It may also revise the issuing schedule on a monthly basis to reflect a full quarter financing plan.
It informed all stakeholders and the general public that it will continue to work to improve predictability and transparency in the domestic capital market.
Because of the country’s economic woes, the government has also borrowed from the treasury market from October 2022.
Except for T-bills, all financial instruments have been reformed.
The country’s internal debt increased by 15.7 billion to 247.9 billion in the first four months of 2023.
T-bills of 3.07 billion dollars will be released today, August 11, 2023.
Meanwhile, the government would borrow $3.07 billion in bills ranging from 91 to 364 days.
This will be used to refinance 2.84 billion in maturing debts.
General News
Power interruptions damage our enterprises; release dumsor schedule – GUTA
The Ghana Union of Traders’ Associations (GUTA) has joined demands for the Electricity Company of Ghana (ECG) to produce a load-shedding schedule, citing the persistent power outages that are badly impacting companies and livelihoods across the nation.
GUTA issued a statement emphasising the considerable impact of the power outages on many sectors, including agriculture, trade, and industry.
According to them, firms are struggling to meet production schedules and prepare for their personnel as a result of the irregular power supply, which raises production costs and degrades living conditions.
Traders, store owners, wholesalers, tailors, dressmakers, electricians, and other artists are also suffering business losses as a result of the “Dumsor phenomenon.”
GUTA is asking for answers from ECG about the true reasons of the unpredictable power outages, measures to resolve the issue, and a deadline for resolution.
They also requested ECG to publish a timeframe for load-shedding so that companies may organise their activities appropriately.
Because of the unpredictability of power outages, many shop owners have turned to generators, which has resulted in rising fuel costs to keep them operating during outages.
General News
The Foreign Affairs Ministry cautions against travelling to Northern Mali
The Ministry of Foreign Affairs and Regional Integration has advised Ghanaians not to travel to certain areas of Northern Mali.
In an official statement, the Ministry underlined recent security concerns along critical routes connecting Mali and Niger, notably in the Gao and Ansongo regions of Northern Mali.
The Ministry mentioned incidents of terrorist activity targeting travellers along these routes.
“The Ministry remains committed to the safety of Ghanaians and will provide updates on the security situation in the region under reference in due course,” the statement went on to say.
The Foreign Affairs Ministry reminded the people to always prioritise their safety when travelling.
Find the statement below:
General News
Gov’t settles on blue and white as new paint for basic schools
Dr Yaw Osei Adutwum, Minister of Education, has declared that the government intends to repaint all public basic schools in blue and white, replacing the present brown and yellow.
This programme is part of a rebranding campaign to improve the appearance of the institutions.
Dr Adutwum went on to say that this is only one of several initiatives targeted at revitalising and improving basic education in the country.
“We’re moving to blue and white. We are painting all of the schools to give them an appealing appearance. This is the revolution Ghana deserves, and it is on its way,” the minister said at a “The free SHS tale” discussion in Accra on Tuesday, April 23, 2024.
He also announced the replacement of the brown and yellow outfits.
“We are modifying the uniforms of public elementary schools across the country. The yellow and brown that you see now will go. Reformation is coming to a community near you, and you will witness it.”
The education minister expanded, saying that this project is part of the government’s attempts to demonstrate to critics that its concentration is not exclusively on secondary education.
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