Ghana and the Czech Republic have reaffirmed their commitment to deepening political, economic and cultural cooperation during a high-level visit by Czech President Petr Pavel to the Jubilee House. 

The discussions, led by President John Mahama and his Czech counterpart, highlighted shared democratic values, expanded trade opportunities, and collaboration in health care, security and climate change.  

Both leaders emphasised the need to increase trade volumes, which currently stand at $33 million —the second-highest in a decade for the Czech Republic in the region.

To further solidify cooperation, the two leaders witnessed the signing of a Memorandum of Understanding (MoU) on Political Consultations and a Bilateral Air Services Agreement, which is expected to enhance connectivity and trade between the two countries.

The two leaders expressed optimism that the agreements and discussions would translate into tangible benefits for both nations, with a focus on private sector engagement, infrastructure development and multilateral cooperation.

Diplomatic, trade relations

President Mahama underscored the longstanding ties between the two nations, dating back to 1961 when diplomatic missions were established.

He noted that the relationship had been reinforced over the decades through high-level exchanges, including the opening of resident missions in their respective capitals.  

He further urged private sector players from both nations to explore partnerships, particularly under the African Continental Free Trade Area (AfCFTA), which offers access to a market of over 1.3 billion people.

President Mahama commended the Czech Republic for its support in Ghana’s healthcare sector, including the Vamed Health Projects, which involve the construction of 12 forty-bed hospitals and staff housing in beneficiary communities.

He also called for the revival of the stalled 50 Bridges project, affected by Ghana’s Debt Exchange Programme and proposed further cooperation on an additional 100 Bridges initiative.

On regional security, President Mahama briefed his counterpart on ECOWAS and EU efforts to combat terrorism, violent extremism and unconstitutional governance in the Sahel and West Africa.

He sought Czech’s support in addressing these challenges.  

Mutual support

Both nations also acknowledged the urgent need for climate action, pledging to collaborate on renewable energy, sustainable mining, and land reclamation.

Additionally, they discussed vocational training under Ghana’s Labour Export Programme, aimed at equipping youth with skills for international employment.  

At the multilateral level, President Mahama called for Czech’s support for Ghana’s candidate, Ambassador Mohamed Adam, for the position of Secretary-General of the UN Tourism Organisation.

In return, Ghana pledged to back the Czech Republic’s bid for a UN Security Council seat.

President Pavel, the first Czech head of state to visit Ghana in over 60 years, expressed gratitude for Ghana’s hospitality and described the country as a key partner in Africa.

A business roundtable between Ghanaian and Czech entrepreneurs has been scheduled to take place, with President Pavel expressing optimism about expanding collaboration in agriculture, mining, health care and water purification.

He also announced the opening of a Czech Technology Hub in Ghana to facilitate knowledge exchange and investment opportunities.  

The Czech leader highlighted his country’s Medivac programme, which provides medical aid to vulnerable groups and facilitates knowledge transfer in health care.  

He emphasised the importance of diversifying partnerships amid global geopolitical tensions, including pressures from Russia and economic shifts influenced by the US.

“We believe in cooperation that creates added value and leaves lasting benefits in Ghana.

“This visit marks a new phase in our relations and we are committed to making it even stronger,” President Pavel assured. 

Dr. Johnson Asiama, Bank of Ghana Governor

The Bank of Ghana (BoG) is shifting its strategy for reforming the Specialised Deposit-taking Institutions (SDI) sector, advocating an industry-led consolidation effort supported by strategic equity investment and strengthened governance structures.

Speaking at a post-Monetary Policy Committee (MPC) media engagement after the Bank’s 123rd MPC meeting, Ismail Adam, Acting Head-Banking Supervision Department, said BoG is working closely with the Ministry of Finance and other stakeholders to develop a coherent plan that will revitalise the SDI sector, improve credit delivery and strengthen deposit mobilisation, especially for underserved markets.

“The Bank of Ghana is now emphasising a industry-led consolidation to reshape the SDI sector. This involves attracting equity from strategic investors – some are already engaging SDIs – and revamping governance to ensure proper oversight,” Mr. Adam said.

The regulator’s approach is designed to counteract what it sees as a “mission drift” among some institutions in the sector, which have deviated from their original purpose of extending financial services to the underserved and excluded.

To address this, BoG has set up an internal committee, complementing a separate team of consultants engaged by the Finance Ministry to draft a roadmap for strengthening the SDI landscape.

The SDI sector includes rural and community banks, savings and loans companies, finance houses and microfinance institutions. Many of these entities have been grappling with weak capitalisation, governance lapses and mounting complaints from depositors over unfulfilled obligations.

The central bank’s renewed focus on self-driven reform comes at a time when there is continued pressure from Ghana’s development partners to strengthen the country’s financial sector resolution framework.

The International Monetary Fund (IMF), as part of its ongoing programme reviews, has flagged the need for more robust mechanisms to deal with failing institutions. Yet no clear timeline has been established for rolling out an industry-funded resolution mechanism.

For now, BoG’s strategy relies on enhanced supervision and early warning systems. While liquidation remains legally available, the Bank has been reluctant to deploy it broadly due to both financial constraints and reputational risks.

“The absence of an industry-funded resolution mechanism – akin to the model used in Nigeria – has exacerbated the problem,” Mr. Adam noted. In Nigeria, banks and other financial institutions contribute annually to a resolution fund; enabling timely interventions without triggering taxpayer-funded bailouts.

Ghana, by contrast, still relies on ad hoc fiscal arrangements when intervention becomes necessary – a model that proved problematic during past banking sector clean-ups. The previous approach of waiting for government funding, Mr. Adam acknowledged, created moral hazards as some operators willingly relinquished their licenses – expecting public bailouts and evading accountability.

“Complaints about SDIs failing obligations are rising; and while we acknowledge their struggles, we can’t act instantly without funds,” Mr. Adam said, suggesting that delays in responding to distressed institutions are often tied to resource constraints.

The new framework seeks to address these shortcomings by encouraging consolidation among SDIs through private capital, ensuring that only well-governed and solvent entities remain in operation. Liquidity support, he emphasised, is reserved for solvent institutions and is not a substitute for resolution tools.

Mr. Adam drew a distinction between past interventions involving Purchase and Assumption (P&A) transactions – such as those executed with GCB Bank and Consolidated Bank Ghana -and outright liquidations. The P&A model allowed for the seamless transfer of deposits, avoiding losses to customers and maintaining public confidence.

“In contrast, liquidation requires upfront funding we often lack and caps payouts to depositors. People confuse SEC-regulated asset management cleanups – where most depositors have been repaid – with BoG-regulated SDIs, where resources are more constrained,” he explained.

Going forward, BoG intends to avoid taxpayer-funded interventions by strengthening internal supervisory tools and aligning its crisis response model with global best practices that emphasise accountability and cost efficiency, Mr. Adam noted.

The regulator’s preference now is to avoid future crises altogether by preemptively addressing risks within the system. This includes pressing SDIs to revise their business models, enhance governance and prepare for possible mergers or acquisitions led by industry players.

BoG executive said the regulator’s evolving position reflects a broader rethink of financial sector stability, moving away from reactive liquidation measures toward proactive consolidation efforts aimed at preserving value and protecting depositors.

“The goal is to integrate all these efforts, revitalising the SDI space to serve excluded markets,” Mr. Adam said.

“We want to address financial stability without repeating pitfalls of the past,” he added.

South Sudan has reversed its decision to deny entry to a man it said was a Congolese national deported by the United States after Washington imposed a blanket visa ban on South Sudanese citizens.

In a dramatic U-turn on Tuesday, South Sudan’s foreign ministry said the government had chosen to admit the deportee, identified as Makula Kintu, “in the spirit of the friendly relations between South Sudan and the United States.”

US President Donald Trump has heavily cracked down on immigration since his return to power in January and has launched a series of deportation actions in recent months.

On Saturday, US Secretary of State Marco Rubio announced that visas held by South Sudanese citizens were being revoked and no new visas would be granted to people from the country over their government’s failure to receive deportees “in a timely manner.”

South Sudan, the world’s youngest nation and one of its poorest is already troubled by armed conflict in its northern region that threatens to plunge it back into another civil war.

On Monday, the South Sudanese foreign ministry clarified that Kintu arrived at the Juba International Airport in the country’s capital on Saturday with a travel document that was not his.

According to the ministry, he presented “a South Sudanese travel document under the name Nimeri Garang” to immigration officials.

However, a series of verifications revealed that he was not Garang and instead identified him as Kintu — a citizen of the neighboring Democratic Republic of Congo (DRC).

“He (Kintu) was not admitted (into South Sudan) and was subsequently returned to the sending country (the US) for further processing,” it added.

The ministry explained it was awaiting the arrival of the actual Garang, whom it said the South Sudanese embassy in Washington had been notified by the US State Department of his deportation and scheduled arrival in Juba next month.

US authorities are yet to comment on the nationality discrepancy.

The South Sudanese foreign ministry cited information on Kintu’s travel history supplied by the US Department of Homeland Security which stated that he initially arrived in the US in 2003 “and voluntarily departed for the Democratic Republic of Congo in 2009.”

It added that Kintu “re-entered the United States illegally on July 10, 2016” and that while he was being questioned Saturday by immigration officials at the Juba airport, Kintu “stated that he hails from the Ema tribe of the Northern Kivu Province in the Democratic Republic of Congo and added that he was brought to South Sudan against his will.”

In its latest communication Tuesday, the ministry noted that Kintu would nonetheless be allowed to enter South Sudan when he arrives again on Wednesday.

“The Government of the Republic of South Sudan remains committed to supporting the return of verified South Sudanese nationals who are scheduled for deportation from the United States,” the foreign ministry said.

Source: CNN.com

The Institute for Economic Research and Public Policy (IERPP) has warned that Ghana’s 2025 tax reforms, aimed at easing economic pressure on households and businesses, could result in a revenue shortfall of between GH¢5.5 billion and GH¢7.1 billion.

The projections, announced by Professor Isaac Boadi, Executive Director of IERPP and Dean of the Faculty of Accounting and Finance, highlight the fiscal risks posed by a series of tax abolitions outlined in the government’s recent policy statement.

According to IERPP, while the reforms may bring temporary relief, the absence of compensatory fiscal measures could destabilize public finances and compromise economic resilience in the long term. Among the most significant repeals is the abolition of the 1% Electronic Transfer Levy (E-Levy), which had generated GH¢1.46 billion in 2023—well below its GH¢4.7 billion target. Its repeal alone is expected to cost the 2025 budget approximately GH¢517.7 million.

The 10% withholding tax on lottery winnings, commonly known as the betting tax, has also been scrapped. Although this move could revitalize a gaming sector that shrank by 15% in revenue over the past year, it represents a symbolic but notable loss of GH¢80 million to GH¢100 million in tax revenue.

The government has additionally repealed the GH¢100 annual Emission Levy on vehicles and industrial operations. This levy, which contributed GH¢450 million annually, was intended to incentivize environmental responsibility. Its removal may marginally reduce production costs for manufacturers but raises concerns over Ghana’s environmental commitments, particularly following a 5% rise in national carbon emissions last year.

Motorists will also benefit from the elimination of VAT on motor vehicle insurance premiums. This measure, expected to lower premiums by up to 20%, will cost the government between GH¢1.4 billion and GH¢2.8 billion in revenue. Similarly, abolishing the 1.5% withholding tax on unprocessed gold purchases by small-scale miners—part of an effort to reduce smuggling and formalize the sector—will forfeit an estimated GH¢297 million in annual taxes.

Further, the repeal of the COVID-19 Health Recovery Levy, a 1% surcharge on VAT and NHIL that raised GH¢2.5 billion to GH¢3.0 billion annually, is projected to eliminate GH¢2.8 billion in public health-related revenue for 2025. The levy previously funded 60% of the country’s ICU bed expansions from 2021 to 2024.

IERPP warns that these repeals, while offering economic relief, create a substantial fiscal gap that could deepen Ghana’s projected 8.5% GDP deficit for 2025. To mitigate this, the institute proposes a series of targeted interventions, including the introduction of a 5% luxury tax on high-end goods, which could generate GH¢800 million annually. Enhanced enforcement of property taxation is also expected to raise an additional GH¢1.2 billion.

To compensate for the loss of the emissions levy, the IERPP recommends exploring carbon credit markets, leveraging Ghana’s extensive forest cover to support green financing initiatives. The institute further advocates for export diversification through value-added cocoa and processed goods under the AfCFTA framework and recommends allocating 5% of mining royalties to a dedicated health infrastructure fund.

Moreover, tying tax exemptions to small business formalization and encouraging digital payment adoption may help broaden the tax base and foster long-term economic inclusivity.

While the proposed reforms offer a path toward easing immediate economic strain, the IERPP stresses that without strategic countermeasures, Ghana may face sustained fiscal imbalances. The challenge now lies in balancing social relief with sustainable public finance management in an increasingly volatile global economic environment.

Deputy Interior Minister Ebenezer Terlarbi has admitted that Ghana’s criminal justice and prison systems are so overwhelmed that the government is unable to effectively prosecute and detain foreign nationals involved in illegal mining, aka galamsey.

Speaking on Joy News’ PM Express, he defended the new directive by Interior Minister Muntaka Mubarak, which includes the mass transfer of police commanders in mining areas and the immediate deportation of arrested foreign nationals engaged in illegal mining.

The policy has sparked intense backlash from civil society, opposition leaders, and security experts who say it reflects a double standard in law enforcement and weakens Ghana’s fight against transnational crime.

“The fact is, we know when it comes to litigation in this country, dealing with our courts, it can sometimes be very frustrating,” the Deputy Minister said.

“We have instances where people are arrested, and we prefer repatriating them rather than taking them through our courts.”

Mr. Terlarbi argued that the system is simply ill-equipped to deal with the legal and logistical burden that comes with prosecuting foreign nationals, especially when they appear in large numbers.

“You arrest about 80 Chinese, and you have to find a place to keep them. Sometimes, even vehicles to take them to court are a problem,” he said. “You go to court and they succeed in getting bail.”

He acknowledged that Ghanaians arrested for similar offenses are taken through the legal process, but maintained that the same approach cannot be applied across the board due to capacity constraints. 

“Certainly,” he conceded when asked if this amounts to a double standard, “but the point is that there are few things that I wouldn’t like to disclose. Some of the things that happen behind the scenes, I wouldn’t like to disclose everything on air or in public, but there’s so much going on. In fact, if we don’t take care, we are going to lose this fight again.”

The Deputy Minister stressed that this is not about leniency toward foreign offenders but rather a matter of pragmatism in a system that is already buckling under pressure.

“We are looking at 1,400 inmates we have now and feeding them is even a problem,” he revealed.

“So if there’s a way not to exacerbate the situation by sending them back to their home countries, I think I would opt for that.”

According to Mr. Terlarbi, some foreign nationals further complicate the prosecution process by refusing to provide identification.

“You arrest some of them, then they tell you they don’t have their passport, and their identities become difficult to establish. Once they get into the system, it is difficult to track some of them,” he explained.

Pressed on whether the government is setting a dangerous precedent by not prosecuting foreign nationals while insisting on full legal procedures for Ghanaians, he responded: “Let’s be realistic.

“The situation at hand, we cannot do things the same way and think that we’ll have the same results. We need to be a little innovative.”

Despite public concern that deportation without legal consequences could embolden more foreign criminals, Mr. Terlarbi insisted the approach is a necessary compromise in the face of a broken system.

“You are okay dealing with the frustrations regarding the court when it comes to Ghanaians, but you are not okay dealing with the same individuals when they are foreigners? That is double standards at best,” the host challenged. To which Mr. Terlarbi simply replied, “Not really.”

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

The recent news that Ghana’s Vice President, Prof. Naana Jane Opoku-Agyemang, had to be flown abroad for medical treatment is a painful wake-up call. It exposes the glaring deficiencies in our healthcare system, a system that continues to fail the very people it’s meant to protect.

While politicians board flights to access top-tier care overseas, the average Ghanaian is left behind in under-resourced hospitals, struggling to survive without beds, equipment, or even basic necessities.

Let’s be clear, this isn’t just about one leader seeking better treatment. It’s about a broken system that’s been neglected for far too long. Just weeks ago, the Komfo Anokye Teaching Hospital, one of the country’s largest referral centres, halted all surgical operations due to a severe water shortage.

Yes, in 2025, patients in need of critical surgeries were turned away, not for lack of expertise, but because there was no water. How does that happen in a country where millions of Cedis are poured into government comforts and luxuries?

And water isn’t the only problem. The notorious “no bed” syndrome is still quietly claiming lives. Emergency patients are regularly shuffled between hospitals, as frantic families beg for help. It’s not an exception, it’s the norm. And yet, the urgency to fix the system only seems to surface when someone in power is affected. Even then, they sidestep the chaos entirely.

For decades, politicians have promised healthcare reform. But let’s ask the hard question: What would happen if they were forced to rely on the same hospitals the rest of us do? What if they, too, were told there were no beds available while in critical condition? What if they had to queue for hours, lie in crowded wards, or watch a loved one die, not because their illness was untreatable, but because the system never gave them a fighting chance?

Maybe that’s what real change would take. Maybe only when a politician experiences this firsthand when they feel the helplessness of a broken healthcare system, will urgency replace apathy. It’s a harsh thought, but it reflects the frustration of a nation that has waited too long for leadership that cares.

Ghana’s healthcare crisis is more than crumbling infrastructure. It’s a crisis of leadership, misplaced priorities, and lack of political will. Flying out for treatment might save an individual, but it broadcasts a national shame. Each time a top official seeks care abroad, it sends a chilling message: this system is not good enough for us, only for you.

And yet, we act surprised when our best nurses and doctors flee to Europe, the UK, or the U.S. in search of better working conditions. Can we really blame them? These professionals are expected to perform miracles in hospitals with no gloves, no beds, no water and no support. The brain drain isn’t betrayal. It’s self-preservation.

If our leaders had no choice but to experience the healthcare system they’ve created, reform might finally stop being a campaign slogan and start being a priority. Because for the rest of us, it’s not about politics, it’s about life and death.

Until then, the suffering continues. And ordinary Ghanaians will keep dying in silence, while those elected to protect them heal comfortably in foreign hospitals.

Last Thursday, I mounted the podium of the British Council to deliver a public lecture on non-literacy and leadership in contemporary governance. In other words, what premium do we put on the efforts of bold women like Madam Akua Donkor, an illiterate who sought the highest office of the land: the presidency, and dreamed of a day when Parliament will tolerate local languages.

The well-attended lecture was under the auspices of the world-renowned Ashesi University and chaired by Dr Patrick Awuah, President and Founder of Ashesi. While the full lecture is available on YouTube, I present below the reaction of one student in the audience who could not resist tabling her feedback in the social media.

“From “I wish I could be there” to “I’m so grateful I was!”

Just a few days ago, I commented under a post by Joseph Oduro-Frimpong “Really wish I could be there.”

At the time, my schedule was overwhelming—assignments, meetings, quizzes… the usual whirlwind. But something about the upcoming lecture struck a chord. The title alone:
“Multilingual Democracy: Non-Literacy and Leadership in Modern Ghanaian Governance” by Emeritus Professor Kwesi Yankah, challenged everything we’ve come to associate with leadership, intelligence, and worth in our society.

So, I made the decision to go.

And that decision turned into one of the most transformational experiences I’ve had this semester.

The lecture was raw, honest, and deeply reflective. It revealed:

• That literacy is more than English, and wisdom is far deeper than a certificate.
• That Akua Donkor, often ridiculed for her lack of formal education, actually used her own resources to uplift her community—reserving land for a university, sponsoring students, and founding a political party.
• That our local languages and cultures deserve space in national governance—not as side notes, but as central pillars of inclusion and representation.
• That formal education can sometimes alienate us from our roots and self-worth if not balanced with cultural wisdom.”

“The line that stayed with me?

“An intellectual must be literate — FALSE.”

As a student in tech, I’m learning to code in languages like Java and Python. But this experience reminded me that some of the most important “languages”—our mother tongues, our traditions, our values—are in danger of being silenced.

This lecture reignited something in me:

• A belief that true leadership is about impact, not fluency.
• That wisdom can speak Twi, Ewe, Dagbani, or Ga—and still lead nations.
• And that when we uplift local voices, we elevate democracy itself.

Huge thanks to @Joseph Oduro-Frimpong for making space for these conversations, and to Emeritus Prof. Kwesi Yankah for pouring decades of experience into this eye opening session.

To anyone reading this:

If something speaks to your heart, even when it feels inconvenient—go for it. Show up. Make time for growth. You never know how one moment can shift your perspective.”

Gertrude Akagbo

[email protected]

Kwesi Yankah, middle, with the Erudite Faculty of Ashesi University

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Ghana’s local currency, the cedi, has recorded marginal gains against major trading currencies, particularly the US dollar, at some forex bureaus.

In its daily update, the Central Bank noted that the cedi is trading at a buying price of GH¢15.51 and a selling price of GH¢15.52 to a dollar.

The British pound is being bought at GH¢19.79 and sold at GH¢19.81, while the euro trades at a buying price of GH¢16.92 and a selling price of GH¢16.94.

Checks by GhanaWeb Business on April 9, 2025, at 08:00 AM indicate that the cedi is trading at GH¢16.05 to the dollar, while the pound is trading at GH¢20.70 at some major forex bureaus across the country.

Additionally, the euro is trading at GH¢17.70 on the retail market.

To curb the cedi’s depreciation, the Bank of Ghana sold over $200 million in the last quarter of 2024.

Watch the latest edition of BizTech below:

Click here to follow the GhanaWeb Business WhatsApp channel

Happy FM morning show is aired every day of the week

Experienced, well-read, in-depth journalists host Happy Morning Show in a lively, objective, and chatty presentation style.

It is the nation’s first and only mixed-language-English and Twi-morning show.

The trio objectively addresses issues of public interest and aims to educate and engage listeners and leaders for better governance and development.

Watch the Livestream below:

Featured

GraphicOnline

Apr – 09 – 2025 , 05:17

2 minutes read

Despite rattled financial markets, threats of retaliation and some of President Donald Trump’s biggest supporters encouraging him to back off his signature economic policy, he didn’t give in.

His administration piled on heaps of new “reciprocal” tariffs Wednesday on dozens of American allies and adversaries alike, aiming to — as he claims — restore fairness and boost American manufacturing.

Goods from China, by far the biggest target, are now subject to at least a 104% tariff. Trump tacked on even higher tariffs than initially announced after Beijing didn’t back off its promise to impose 34% retaliatory tariffs Tuesday.

The reciprocal rates, which aren’t exactly reciprocal, were calculated by dividing a country’s trade deficit with the US by its exports to the country and multiplying by 1/2. They range from 11% to a whopping 50%. Barring Mexico and Canada, America’s other top trading partners were hardly spared in this round. The EU was hit with a 20% reciprocal tariff, China at 34%, Japan at 24%, Vietnam at 46% and South Korea at 25%.

These new rates come just days after Trump imposed a 10% universal tariff on all countries’ imports, aside from Mexico and Canada. (The 10% rate is not additive for countries on the reciprocal tariff list. For instance, Japan’s tariff rate increased by 14% on Wednesday given the 10% was already levied over the weekend.)

“Our country and its taxpayers have been ripped off for more than 50 years. But it is not going to happen anymore,” Trump said last week when announcing the tariffs, the highest the nation has seen in over a century.

Hours before the tariff went into effect Tuesday, Trump made similar comments on, adding that other countries, especially China, have “left us for dead, frankly.”

Now, Americans and people across the world are set to pay a steep price. Importers, not the countries Trump targeted, will pay the tariffs, and those costs often get passed onto wholesalers, retailers and ultimately consumers. But businesses abroad won’t be off the hook either, with Americans likely to source goods from countries with lower tariff rates.

Ultimately, Trump’s tariffs threaten to escalate a global trade war. China, already set to escalate its retaliation against US, vowed to double down even more. China’s Commerce Ministry said Tuesday the country would “fight to the end” of the trade war.

Trump, meanwhile, said in a Truth Social post on Tuesday that “China also wants to make a deal, badly, but they don’t know how to get it started.”

Recession and stagflation in the spotlight

With several trillion dollars in the market value of US stocks wiped away in the days since April 2 “Liberation Day,” forecasts of an outright global recession have grown.

JPMorgan has raised the chances of a global recession to 60% by the year’s end from 40% if Trump carries out the full plan he laid out last week.

“The tariff hikes since the start of the Trump administration now amount to the largest US tax hike in nearly 60 years,” the bank’s economists said in a note last week. “This would have direct ramifications on household and business spending and ripple effects through retaliation, a slide in business sentiment, and supply chain disruptions.”

American consumers will pay $2,100 more a year on average because of Trump’s tariffs, the nonpartisan Tax Foundation says.

Since returning to the White House, Trump has been busy. Even before last week, he had previously announced a 20% tariff on all Chinese imports and 25% tariffs across all steel, aluminium and car imports.

Meanwhile, earlier in the week, Goldman Sachs upped its forecast for a US recession in the next 12 months to 45%, a 10 percentage point increase from prior predictions. In a note titled “Countdown to a Recession,” the bank’s economists said they “had expected the White House to announce a more aggressive tariff at first and then scale it back somewhat.”

Unless all of the enacted tariffs are significantly revised, Brian Bethune, an economics professor at Boston College, predicts the US economy will enter a recession by the second quarter of this year. Even more concerning, tariffs could ignite stagflation, a scenario when economic growth declines significantly and inflation heats up.

“The probability of stagflation is 100%,” he told CNN, adding that inflation from Trump’s tariffs will hit consumer price levels by May and accelerate further in June and July.

Not everyone is predicting a recession, though. Morgan Stanley analysts on Tuesday said the US would avoid recession – because they believed Trump would ultimately strike deals with countries to lower tariffs. And Trump’s chief trade adviser, Peter Navarro, told Fox News Monday evening that he guaranteed the US economy would not plunge into a recession.

Despite dozens of countries offering to negotiate, it’s not clear that deals can be worked out quickly — if at all. Trump and members of his administration have said that what they consider non-tariff trade barriers — which include currency manipulation, tax policies viewed as unfair and the use of sweatshop labor — are more important than tariffs. That’s why they’ve rejected various nations’ offers to set their tariffs to 0% on US goods in exchange for the same treatment.

Hitting the world’s second-largest economy

Trump’s tariffs have hit the world’s second-largest economy, China, the hardest. Now Beijing is going head-to-head with its larger rival, the US, in a full-blown trade war.

When Trump’s first term ended, the US charged an average tariff rate of 19.3% on Chinese goods, according to a Peterson Institute for International Economic analysis. The Biden administration kept most of Trump’s tariffs in place while also adding additional ones, bringing the average rate to 20.8%.

Both China and the US have benefited from decades of trade. But since Trump’s first term, the US has looked to other countries for goods it had previously imported from China.

Mexico has been a top beneficiary, having overtaken China to become America’s top source of imports in 2023, a position that it maintained last year. Several Asian countries, including Vietnam, South Korea and Taiwan, have also seen trade flows to the US surge since Trump’s first term.

That’s not to say the 104% tariff on Chinese goods won’t matter — it very much will — and they could easily go even higher. Even with pre-existing tariffs in place, China was still the second-biggest source of foreign goods last year, according to US Commerce Department data.

China shipped a total of $439 billion worth of goods to the US in 2024, while the US exported $144 billion worth of goods to China. The country also remained the top foreign source of several items.

The mutual tariffs threaten to hurt domestic industries and are poised to result in layoffs.

If Trump were to cancel his tariffs, which he’s repeatedly vowed not to, much of the economic damage could be undone “but certainly not all,” Colin Grabow, associate director at the Cato Institute’s Herbert A. Stiefel Center for Trade Policy Studies, told CNN.

“Trump’s actions have significantly hurt US credibility, not only through the tariff’s flimsy justifications but also the violation of long-standing free trade agreements with US trading partners,” he said. “Businesses need a certain degree of certainty in which to operate, and Trump’s chaotic approach is not providing that.”

Watch the latest edition of BizTech below:

Click here to follow the GhanaWeb Business WhatsApp channel

Kims Lars Bjorkegren was handed I second defeat in just three games as Ghana suffered defeat to Senegal. 

The Teranga Lionesses scored a late goal to beat the Black Queens in their second friendly this international break. 

The defeat comes days after the Swede trainer’s team had picked up a similar score in the first encounter with Evelyn Badu scoring the only goal of the game. 

There were five changes made to the Black Queens starting lineup for the game as Nina Norshie, Justice Tweneboah, Ernestina Abambila, Chantelle Boye-Hlorkah and Princella Adubea were all handed starting berths. 

Ghana looked flat and attacked very little in the opening 45 minutes of the game with the host bring their physical strength to the game. 

The Black Queens failed to cope with the physicality of the game but still held on for a 0-0 at halftime. 

After the return from the break, Bjorkegren made a change to his side with goalkeeper Kerrie McCarthy replacing Cynthia Konlan. 

Chantelle came close to opening the score for Ghana but her effort went just wide of the post. 

Abambila also came to the rescue of the team at a point in the second half to deny Senegal from taking the lead. 

However, in the 90th minute, there was no solution for a Senegal attack as they breached the Black Queens defence and scored the winner. 

The defeat means the Queens have picked up two losses from three games under the new boss in three games, winning the other. 

The games are part of their preparations for the delayed 2024 Women’s Africa Cup of Nations to be staged in Morocco in July. 

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Professor Naana Jane Opoku-Agyemang, Vice President

Minister of State in Charge of Government Communications and spokesperson for President John Dramani Mahama, Felix Kwakye Ofosu, has assured the public that the Vice President, Professor Naana Jane Opoku-Agyemang, is in good health in the United Kingdom and is expected to resume her duties shortly.

Speaking in an interview on Onua TV on April 8, 2025, Felix stated that the vice president has been advised to rest by her medical practitioners.

“She is currently in good health and taking a short rest as advised by her doctors, and in short order, she should be back to her duties.

“…she is in the United Kingdom as I speak,” onuaonline.com quoted him to have said.

Meanwhile, Prof Jane Naana Opoku-Agyemang has taken a three-week medical leave of absence beginning April 7, 2025, per her doctor’s advice, in order to concentrate on her recuperation, according to a report by citinewsroom.com.

This move was said to have been confirmed by Jubilee House sources.

After receiving initial care at the University of Ghana Medical Centre in Accra, the Vice President had to seek treatment overseas due to current health issues, which necessitated her leave.

Speaking at a community engagement in Lagos, Nigeria, on April 6, foreign affairs minister, Samuel Okudzeto Ablakwa reassured Ghanaians that Prof Opoku-Agyemang is quickly returning to her duties and is recuperating well.

He credited her advancement to the prayers and support of Ghanaians and people, both domestically and internationally.

Ablakwa dismissed what he described as “vicious and unGhanaian propaganda,” while addressing rumors about the vice president’s health, urging the public to focus on her resilience and achievements.

He emphasized her capacity to shatter stereotypes and act as a role model, highlighting her role as an inspiration to young girls and women.

AM/KA

Meanwhile, watch GhanaWeb’s tour of Fort Victoria and the Cape Coast Lighthouse below:

Canadian government has affirmed its commitment to collaborating with the PHDC

The Canadian government has reaffirmed its commitment to collaborating with the Petroleum Hub Development Corporation (PHDC) to ensure the successful implementation of Ghana’s Petroleum Hub project.

This assurance was given by Andrew Maharaj, Counsellor (Commercial) and Regional Senior Trade Commissioner at the Canadian High Commission to Ghana, during a meeting with the Chief Executive Officer of PHDC, Dr. Toni Aubynn, and his two deputies, Onasis Rosely and Halimatu Sadia Abdulai Abu, on Tuesday, April 8, 2025.

Maharaj stated that Canada’s initial support would focus on human capital development for the project.

He highlighted the Canadian government’s longstanding partnerships with key Ghanaian energy institutions, including the Ghana National Petroleum Corporation (GNPC) and the Volta River Authority (VRA), in building the capacity of technical and managerial staff.

He outlined several training opportunities, including technical training in fabrication and storage, as well as management development programs.

He also introduced a dedicated initiative aimed at enhancing the skills and participation of women and minority groups in the energy sector.

Onasis Rosely, Deputy CEO for Operations and Technical, expressed appreciation for Canada’s support and appealed for additional assistance in training technicians specifically for the hub project.

Halimatu Sadia Abdulai Abu, Deputy CEO for Finance and Administration, urged the diplomatic community to back Ghana’s vision of developing a world-class, multi-purpose petroleum facility.

She emphasised PHDC’s ongoing efforts to secure funding and support for the successful construction of the Petroleum Hub.

AM/KA

Watch the latest edition of BizTech below:

Click here to follow the GhanaWeb Business WhatsApp channel

A ghanaian brand influencer, Tina Mensah, has sued a former Deputy Minister of Trade and Industry, Nana Ama Dokua Asiamah-Adjei, and her foster daughter, Abigail Kwarteng, for defamation, accusing the two of allegedly recording and circulating her nude video unlawfully.

In a writ filed at the Accra High Court, the plaintiff, who resides in Germany, claims that Miss Kwarteng, the first defendant, secretly filmed her naked while she was exiting a bathroom and forwarded the video to Nana Ama Asiamah-Adjei.

The plaintiff alleged that after receiving the video, the former Deputy Minister allegedly sent it to her contacts on WhatsApp, with some of them subsequently publishing it on social media platforms such as TikTok and Facebook

The brand influencer is seeking GH¢20 million in aggravated damages, general damages and a declaration that the said publication is defamatory.

She also wants an order directed at the two defendants to render an unqualified apology to her. 

Effect of the alleged defamation

The plaintiff averred that the video was published without her consent, and was a deliberate attempt by the defendants to cause hatred, contempt and public ridicule, damaging her reputation in the process.

Again, she stated that due to the publication, her contracts with many companies to help advertise their services and products have been abrogated, with her future contracts also thrown into jeopardy.

The said publication of her nude videos without her consent, she further stated, had led to the collapse of her relationship with her fiancé.

In her statement of claim, the plaintiff said the incident occurred during her visit to Abigail Kwarteng’s residence in Kumasi in February 2025.

She said while she was taking a bath on February 18, 2025, the first defendant accused her of taking money from individuals on the pretext of helping them acquire visas to Germany.

The plaintiff claims she rushed out of the bathroom naked in shock, only for the first defendant to record her and send the video to the second defendant.

The plaintiff further states that she received the video from an unknown number and later confronted the first defendant, who admitted to filming and sharing the footage with the second defendant alone.

However, the plaintiff contends that both defendants maliciously disseminated the video, leading to its widespread publication online and on traditional media platforms.

The matter, she said, had been reported to the Suntreso Police, where the first defendant reportedly admitted to taking and sharing the video.

According to the statement of claim, Kwarteng was later arraigned before the Kwaadaso Circuit Court and remanded to reappear at a later date.

The plaintiff adds that the police have since invited the 2nd defendant for interrogation, but she has allegedly failed to honour the invitation.