Tag Archive for: Government of Ghana

Andrew Stegmann
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Ghana’s Central Bank Shuts Door on Lending Government More Money

Bank of Ghana Governor Ernest Addison ruled out providing more loans to the government to help narrow the budget shortfall, saying it would put exchange-rate stability at risk.

The central bank shelved its zero-financing policy this year to lend the government 10 billion cedis ($1.7 billion) to help mitigate the impact of the coronavirus pandemic on the West African economy. Ghana’s budget deficit is projected to reach 11.4% of gross domestic product by the end of December, against an initial target of 4.7% of GDP.

“The wide fiscal gap raises important financing issues,” Addison said in a speech late Thursday, in the capital, Accra. “Its financing should not be by recourse to central bank funds, as this will weaken the central bank’s ability to serve as the anchor of monetary- and exchange-rate stability.”

The cedi has had its most stable spell in more than a decade this year, weakening 2.6% to the U.S. dollar. That’s even as the global health crisis drove Ghana’s ratio of debt to gross domestic product to 71% in September, the highest in four years.

“Going forward, difficult decisions will have to be taken to reorganize public finances and expenditure priorities, while exploring more sustainable revenue sources,” Addison said.

 

For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email info@relocationafrica.com, or call us on +27 21 763 4240.

Sources: [1], [2]. Image sources: [1], [2].

Andrew Stegmann
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Ghana Reopens Borders to International Commercial Flights September 1st

This information was provided to us courtesy of Globetrotters Legal.
The government of Ghana announced August 30, 2020, that the country’s airspace will be opened to international commercial flights effective September 1, 2020.

Travelers must take note of the following protocols and the attached for further information.

  1. A negative COVID-19 PCR test result obtained 72 hours before arrival from an accredited laboratory in the country of origin is required;
  2. Compulsory wearing of face masks for passengers;
  3. Mandatory COVID-19 test at the airport terminal, at a fee to be borne by the passenger (should not exceed GH 500). The test result will be available within thirty (30) minutes;
  4. Testing at the airport not required of children under the age of five (5);
  5. Passengers, who test positive for COVID-19, will be handled by the health authorities for further clinical assessment and management;
  6. Passengers, who test negative, can enter Ghana to go about their lawful activities and will be advised to continue to observe COVID-19 safety precautions during their stay in Ghana; and
  7. Departing passengers will be required to take A PCR test 72 hours prior to departure and present a negative result to port health officials for verification before being allowed to complete departure formalities;

Ghanaian land and sea borders will continue to remain closed to human traffic until further notice.

 

For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email info@relocationafrica.com, or call us on +27 21 763 4240.

Sources: [1], [2]. Image sources: [1], [2].

Andrew Stegmann

Government of Ghana Gradually Eases COVID-19 Restrictions

This information was provided to us by Globetrotters Legal Africa.

As an update, the President of Ghana in an address on May 31 announced the easing of some (internal) restrictions initially put in place to combat the spread of COVID-19.

Effective June 5, an abridged format of religious services can commence with 25% attendance and a maximum number of one hundred (100) congregants. Final year junior/high school and university students will be allowed to sit for their exams from June 15 with the requirement that there are reduced class sizes.

Immigration-wise, the government of Ghana is planning an evacuation exercise for Ghanaian nationals overseas; However, no commercial flights are currently allowed in as the borders (air, land, and sea) remain closed until further notice.

The Ghana Immigration Service (GIS) is working and accepts new work permit applications and renewals for expatriates currently in-country. Extension of stay applications may also be filed. Applications for visa on arrival remain suspended due to closure of the borders.

All other restrictions remain in place.

For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email info@relocationafrica.com, or call us on +27 21 763 4240.

Sources: [1], [2]. Image sources: [1], [2].