BoG not to finance budget deficit – Terkper
Government will for the first time not seek funding from the Bank of Ghana to finance the country’s budget deficit. This is according to Minister of Finance, Seth Terkper. Presenting the 2016 midyear budget review and supplementary budget statement to Parliament today, July 25, Mr. Terkper explained that the financing of the country’s deficit is […]
Petroleum Commission rejects claims E&P Bill lacks transparency
The Petroleum Commission has rejected claims that the Petroleum Exploration and Production (E&P) Bill which is currently in parliament grants the sector minster excessive discretion that could lead to corruption. According to some sections of the bill, a Petroleum Minister is permitted to undertake direct negotiations under two circumstances on behalf of the nation. First, […]
Gov’t to issue 5yr domestic bond today
Government is expected to issue yet another five year domestic bond today, July 25, 2016. It is unclear how much the government intends to raise this time round. But proceeds of the bond are expected to be used to refinance debts and maturity settlement. A statement by the Bank of Ghana indicated that the bids […]
Oil prices dip on ongoing oversupply, economic headwinds
Oil prices held near two-month lows on Monday amid worries that a global crude and refined product glut would weigh on markets for some time to come. International BRENT CRUDE OIL FUTURES were trading at $45.58 per barrel at 0657 GMT, down 11 cents from their previous close. U.S. West Texas Intermediate (WTI) crude was […]
