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SMEs promise to pay back relief package


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Ghanaian Business associations have confirmed receipt of the government of Ghana stimulus package meant to cushion small and medium scale enterprises (SMEs) from the impact of the coronavirus disease (COVID-19).
They committed to ensure that the beneficiary members used the funds to invest in their operations in line with government’s agenda of supporting businesses affected by the pandemic.
The associations, Ghana Union of Traders Association (GUTA), Ghana National Chamber of Commerce and Industry (GNCCI), Association of Small-Scale Industries (ASSI), Abossey Okai Spare Parts Dealers Association, Creative Arts Agency (CAA), and Sekondi-Takoradi Chamber of Commerce and Industry, sponsored their members to benefit from the stimulus package. ....

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Akufo-Addo faces stern economic test


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PRESIDENT Nana Addo Dankwa Akufo-Addo will start his final four-year tenure on January 7 with his task on the economy well cut out for him. He will be expected to lead the revival of an economy that has been pushed into its first recession in almost 40 years, prune down public spending to contain a large fiscal deficit and rein in borrowing to address a debt overhang that has breached various sustainability thresholds.  
A tough ride for a President whose legitimacy is being questioned at the Supreme Court and faced with a hung Parliament, the current economic situation is the result of a combination of factors, including a laxed fiscal stance that emerged around 2019, the impact of the COVID-19 pandemic on public finances and the fiscal pressures from the December 2020 general elections. ....

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