IMF Managing Director, Kristalina Georgieva

The International Monetary Fund (IMF) has expressed significant concerns over newly introduced U.S. tariff measures, warning that they could jeopardise an already fragile global economic outlook.

This comes at a time when global economies are grappling with sluggish growth, post-pandemic recovery challenges, and increasing inflationary pressures.

In a statement issued Thursday April 3, 2025, IMF Managing Director Kristalina Georgieva highlighted that the institution is still evaluating the full macroeconomic impact of the tariffs, which were revealed by the U.S. government on Wednesday April 3, 2025.

Though the exact details of the tariffs remain under scrutiny, the IMF’s initial concerns stem from the potential for these measures to exacerbate global trade tensions, especially amidst ongoing challenges in international supply chains.

“It is important to avoid steps that could further harm the world economy,” Georgieva cautioned.

She emphasised the need for cooperation among nations to mitigate the effects of these new tariffs, urging both the United States and its trading partners to work toward a constructive resolution to the escalating trade disputes.

“We appeal to the United States and its trading partners to work constructively to resolve trade tensions and reduce uncertainty,” she added.

The IMF’s warning comes in the wake of rising global protectionism, which has already started to disrupt global supply chains.

The economic institution is particularly concerned about the impact of tariffs on inflation, trade volume, and emerging markets, which have yet to fully recover from the economic setbacks caused by the COVID-19 pandemic.

Georgieva further noted that the IMF’s comprehensive assessment of the tariffs’ impact will be presented in the upcoming World Economic Outlook, which is set to be released during the IMF and World Bank Spring Meetings later this month.

This assessment is expected to offer deeper insights into the potential repercussions of the tariff measures and how they could affect global trade flows and economic recovery.

Meanwhile, economists are increasingly worried that such policies could stifle global growth, increase costs for consumers, and further strain international relations in the trade arena.

MA

Watch the latest edition of BizTech below:

Click here to follow the GhanaWeb Business WhatsApp channel

Sabrina Dhowre Elba, actress, entrepreneur, and Goodwill Ambassador for the UN’s International Fund for Agricultural Development (IFAD), has championed ethical sourcing and women’s empowerment in the Shea industry following her recent visit to Northern Ghana.

This is on the back of her partnership with World Vision International, where she visited several women-led shea butter processing groups in the Northern Region to learn firsthand about sustainable practices and the challenges these communities face.

The visit is part of a broader initiative with S’ABLE Labs, the skincare company she co-founded, aimed at promoting wellness and responsible sourcing.

“We believe in the power of communities. Through our partnership with World Vision and Fairtrade, we can create a space where people not only benefit from ethical sourcing but where their work and culture are uplifted on a global stage. We are committed to supporting the incredible women who are the backbone of agricultural production in this region.” Elba said during her visit.

In Gbumgbum Yemo, Sabrina observed traditional shea butter production, a time-intensive process carried out largely by women. Sabrina engaged with the women involved in the process, learning about their challenges and, at the same time, ways to preserve the indigenous method of shea production.

In nearby Malishegu, she met with cooperatives benefiting from Fairtrade certification, which ensures producers receive fair compensation and reinvest in their communities.

“Fairtrade is not just about profit. It’s about ensuring dignity, fairness, and sustainable livelihoods for the people who grow the ingredients we all love to use. By supporting ethical sourcing, we help create opportunities that lead to lasting change,” said Sabrina.

She also visited Bugulung, where mechanized shea processing is improving productivity and income for local women. World Vision, active in Ghana for 45 years, has played a key role in providing the necessary training and equipment to support these transitions.

The partnership between S’ABLE Labs and World Vision focuses not only on sustainable product development but also on raising awareness about the importance of supporting fair trade practices. “Sabrina’s advocacy aligns with World Vision’s mission to tackle poverty at its root. Together, we’re helping create systems that value both people and the planet,” a spokesperson for the organization. “

As Sabrina concluded her trip, she called for greater accountability in sourcing and consumption. “Ethical sourcing is not a trend; it’s a responsibility we all share. Through partnerships like this, we can create a more sustainable, just, and inclusive world.”

This collaboration underscores the power of community-led solutions and highlights the role of ethical business practices in creating a more sustainable future. Through such initiatives, the potential for positive global impact is limitless.

Minister of Finance, Dr Cassiel Ato Forson

Minister of Finance, Dr. Cassiel Ato Forson, has announced that under the amended Public Financial Management (PFM) Act, 2025, any finance minister who violates fiscal rules will face censure.

Furthermore, ministers and heads of covered state entities could face imprisonment if found responsible for fiscal slippages.

According to the Finance Ministry, these measures are part of broader reforms aimed at ensuring strict adherence to fiscal discipline and promoting sustainable economic management.

Key fiscal reforms

The PFM Act, 2025 introduces two major fiscal rules to strengthen financial governance:

1. Non-interest spending must be less than revenue

• The government must ensure that non-interest expenditure does not exceed revenue.

• At least 1.5% of GDP must remain as extra revenue after covering all expenditures, excluding interest payments.

• This ensures that even after settling operational expenses, a fiscal surplus remains to support economic stability.

2. Debt limit to prevent unsustainable borrowing

• A cap will be placed on the country’s total debt accumulation.

• By 2034, Ghana’s total debt must not exceed 45% of GDP to maintain financial stability.

This restriction aims to prevent excessive borrowing and ensure the country remains capable of servicing its debt without placing undue pressure on public finances.

Additionally, the Minister of Finance must obtain Parliamentary or Cabinet approval before suspending fiscal rules in the event of force majeure or economic shocks.

These reforms represent a significant step toward fiscal consolidation and are expected to bolster investor confidence while ensuring long-term economic sustainability.

The Public Financial Management (PFM) Act is a law enacted to regulate financial management in the public sector within a macroeconomic and fiscal framework. It defines the responsibilities of stakeholders, and provides for the accounting and auditing of public funds, as well as related matters.

SP/MA

Watch the latest edition of BizTech below:

Click here to follow the GhanaWeb Business WhatsApp channel

A landmark visit by a delegation of 10 senior leaders and faculty members from three U.S. community colleges to Ho Technical University (HTU) has opened new avenues for international academic collaboration and student mobility between Ghana and the United States.

The programme was conceptualized and facilitated by the Hilltop Global Group, a Washington D.C.-based Africa-focused strategic advisory and education consulting firm.

Hilltop specializes in helping U.S. universities and colleges develop and execute internationalization strategies with a focus on Africa, with the goal of increasing the proportion of U.S. outbound academic programmes engaging with the continent.

The Tennessee Consortium for International Studies (TNCIS), under the direction of Tracey Conner Bradley, Executive Director of the Consortium and Assistant Vice Chancellor of the Tennessee Board of Regents, and Felicia Hankins, Programme Coordinator at TNCIS, worked closely with Hilltop Global to conceptualize and deliver the programme.

The delegation included Dr. Shanna L. Jackson, President of Nashville State Community College, Dr. Larry Anthony Wise Jr., President of Pellissippi State Community College and Dr. Michael Boyd, Chief of Administrative Services at Southwest Tennessee Community College, along with faculty members from various academic disciplines.

Mr. Phil S. Agbeko, Fulbright Specialist and CEO of Hilltop Global Group, played a pivotal role in designing and leading the initiative. “This visit is a direct result of Hilltop’s commitment to bridging higher education partnerships between Africa and the U.S.,” Mr. Agbeko stated.

“During my time as a Fulbright Specialist at HTU, I saw the immense potential for collaboration. We are thrilled to see this vision come to life, fostering student exchanges, faculty collaborations, and global learning experiences.”

The Vice-Chancellor of HTU, Prof. Ben Honyenuga, welcomed the delegation and emphasized the university’s commitment to attracting U.S. students, particularly those of African descent interested in pursuing bachelor’s degree programmes in Ghana.

“HTU offers a unique opportunity for students from the African diaspora seeking an immersive Ghanaian education while benefiting from our globally competitive programmes,” he said.

Prof. Honyenuga also noted that HTU’s wide range of programmes aligns with those of U.S. community colleges, creating a strong foundation for cooperation in skills training, joint research, and faculty development.

He stressed that the partnerships will promote economic mobility, workforce development, and deeper cultural exchanges.

The visiting U.S. community college leaders expressed enthusiasm for potential collaborations, recognizing the mutual benefits of fostering international engagement.

Dr. Shanna Jackson stated, “We share similar missions, and this visit confirms the alignment of our programmes and institutional goals.”

Dr. Larry Anthony Wise Jr. underscored the opportunities in student exchange programmes, virtual learning initiatives, and faculty training, noting, “This is an opportunity to create meaningful, long-term engagement between our institutions.”

For Dr. Michael Boyd, the visit was particularly meaningful, marking his first experience on the African continent. “I feel very encouraged about the potential partnerships we can build here. The experience has been incredibly inspiring,” he remarked.

This initiative marks a major step toward strengthening U.S.-Africa academic ties, with HTU and the visiting community colleges now poised to develop formal agreements that will expand student mobility, faculty exchanges, and collaborative research opportunities.

Sanarigu Member of Parliament (MP), Issah Atta, has criticised the ranking member on the defence and interior committee of parliament Rev John Ntim Fordjour for his comments regarding some flights at the Kotoka International Airport, describing them as reckless and unnecessary.

Speaking on Channel One TV‘s The Big Issue on Saturday April 5, he noted that “There was nothing about this. He just wasted everybody’s time,” dismissing the claims as baseless.

He emphasised that flights land in Ghana regularly, and oversight responsibilities should not be accompanied by actions that incite fear or tarnish the government’s image.

Atta further stated, “If you are performing your oversight responsibilities, it doesn’t mean you should add recklessness, causing fear, anxiety, and tarnishing the image of the government.”

He labeled Fordjour’s statement as irresponsible and counterproductive.

Read also…

Ntim Fordjour will be arrested if he ignores NIB invitation – Kwakye Ofosu

Dr. Rashid Pelpuo and Malik Basintale

The Ministry of Labour, Jobs and Employment (MLJE), in collaboration with the Youth Employment Agency (YEA), has inaugurated the Inter-Ministerial Steering and Technical Committees to oversee the implementation of the government’s new Work Abroad Programme.

The event, held yesterday at the MLJE conference room, brought together representatives from key state institutions and international organisations who will serve on the two committees.

In her welcome remarks, the Acting Chief Director of the Ministry, Madam Gloria Bortele Noi, extended appreciation to all participants for their commitment to supporting the programme.

The Chief Executive Officer of YEA, Malik Basintale, provided an overview of the initiative, emphasizing that the programme is designed to create opportunities for skilled Ghanaian youth to gain international employment—contrary to common public misconceptions.

He highlighted the importance of building a pool of well-trained individuals ready to take up these roles.

The Minister for Labour, Jobs and Employment, Dr. Rashid Pelpuo, reiterated the government’s commitment to tackling youth unemployment through strategic international partnerships.

He noted that the Work Abroad Programme, jointly led by MLJE and YEA, aims to facilitate temporary, seasonal, contract, and permanent employment for Ghanaian youth in partner countries.

Dr. Pelpuo outlined the programme’s objectives, which include promoting safe and orderly migration, enhancing youth employability, addressing unemployment, supporting national economic growth, and ensuring the sustainable reintegration of returnees.

He added that the initiative is intended to create a “win-win” situation for Ghanaian youth, the national economy, and international labour markets.

Importantly, during his address, the Minister officially announced the cancellation of the migration of domestic workers, citing the need to protect vulnerable groups from exploitation and to align Ghana’s labour migration strategy with international standards.

This marks a significant policy shift, prioritizing skilled and semi-skilled employment opportunities abroad.

The Minister also announced the composition of the newly formed committees and elaborated on their roles in ensuring the successful rollout of the initiative.

The YEA will serve as the programme’s secretariat and play a key operational role.

In officially inaugurating the committees, Dr. Pelpuo thanked members for their willingness to serve and wished them success in their work ahead.

The Work Abroad Programme is one of the government’s key interventions aimed at addressing youth unemployment through global partnerships and job creation.

Watch the latest edition of BizTech below:

Click here to follow the GhanaWeb Business WhatsApp channel

Unilever Ghana has unveiled a game-changer in home-care with the launch of its new ‘Comfort’ fabric conditioner, now available in sachet form.
 
Known for delivering top-quality household products, Unilever is stepping up its commitment to affordability and everyday convenience with a product designed to keep clothes smelling fresh for up to 100 hours.



‘Comfort’ is meant for use on all kinds of fabrics after washing and rinsing, and it offers a scent that lingers for nearly five days. This fabric conditioner isn’t just about fragrance, it also softens and protects your clothes, making laundry day a more refreshing experience.



Category Manager for HomeCare at Unilever Ghana, Theodora Kasu Owusu, explained that although ‘Comfort’ has been available in bottles, it has not always been accessible to the average Ghanaian due to its price point.



She stressed that people already use ‘Comfort’ fabric conditioner, but it comes in bottles and is not affordable to everyone.



The new GH₵2 sachet fabric conditioner offers the same quality in a more accessible size and price, making it available to a wider range of consumers. The sachet comes in two captivating fragrances, Blue Ultra and Royal Magic.



“One key motivation behind launching Comfort in sachet form is that everyone deserves to smell good,” Theodora added.



She also emphasised the multi-functional benefits of the product.



“Comfort has a special property that enables it to preserve the quality of your clothes. In this instance, it’s giving you more value for money. Some clothes fade or weaken after washing, but with Comfort, you can wash multiple times and the fabric will remain the same,” she said.



The product is also easily accessible, as Theodora noted it’s available at local shops, supermarkets, and hypermarkets across the country.



Brand Manager for Comfort at Unilever Ghana, Senam Arthur Yartel, highlighted what sets the product apart in an already competitive market.



“The Comfort sachet makes your clothes smell really good for 100 hours, even after the 100 hours, you can still perceive the scent on your clothes,” she said.

“It’s not only a fragrance, it’s a softener too. It gives your clothes that nice texture they should have. This Comfort sachet doesn’t just wet your clothes. It revives the quality of the fabric and gives it the best look it should have”.



With this sachet launch, Unilever Ghana is proving that a premium level of freshness doesn’t have to come at a luxury price.

The GH₵2 Comfort fabric conditioner now brings fragrance, softness, and long-lasting fabric care into every home whether in urban cities or rural towns.

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.

Featured

Graphic.com.gh

Sports News

Apr – 05 – 2025 , 11:23

2 minutes read

The United States (US) government will maintain all the life-saving programmes under the US Agency for International Development (USAID), the US Ambassador to Ghana, Virginia E. Palmer, has stated.

The life-saving programmes include the infant and child mortality, maternal health, the malaria elimination, HIV/AIDS prevention and interventions, as well as the essential medicines and vaccines programmes.

Ms Palmer said although the support for those life-saving programmes would continue, many of them had been reviewed and changed. 

Trump administration

Shortly after coming to power, the Trump administration announced the elimination of more than 90 per cent of USAID’s foreign aid contracts and $60 billion in overall US assistance around the world, putting numbers on its plans to eliminate the majority of US development and humanitarian help abroad.

In her first media engagement since the political transitions in the US and Ghana, Ambassador Palmer reaffirmed that Ghana’s longstanding relationship with America had secured its place as a vital partner.

“No matter what the change in language, how we express it, or the change in focus, Ghana is a really important partner of the United States and will continue to be so.

The United States is behind Ghana’s economic recovery through institutions such as the World Bank and the International Monetary Fund (IMF), as well as American business interests,” she said. 

Deeply-rooted relationship

The Ambassador further explained that the United States and Ghana had a deeply rooted relationship, founded on many fronts: historical and cultural ties, as well as bilateral trade relations, which currently amounted to approximately $3 billion.

Ms Palmer said Ghana had actually done better than many in a number of areas, especially, “your conflict resolution structures are stronger as a result of hard work, and this has enabled you to move to another phase of partnership with the United States”.

She, however, said the US had not continued with a lot of the economic growth programmes, but had a lot of programmes to spur agricultural growth and would be able to maintain the cash transfer programmes to the people that were affected by the drought in the north.

“But some of the programmes to stimulate more agricultural change, they’ve had to terminate and I feel sad about that,” Ms Palmer admitted.

Ghana’s budget

Ambassador Palmer stressed that the US was not leaving a big hole in Ghana’s budget because most of the assistance they provided, of about 95 per cent, was to civil society organisations (CSOs) rather than the government.

“The US and Ghana have a very warm, close relationship that is founded on four pillars, historical and cultural ties, trade and investment, goods and services — gold coming from here, gas coming from here and we have automobiles and pharmaceuticals coming from the United States, and cooperation in key industries,” Ms Palmer stated.

“So, it is something that builds prosperity in all the countries. It is all to say that no matter the changes in language and no matter the change in focus, Ghana remains an important part of the United States, and will continue to be so,” she added.

New tariffs

Ms Palmer downplayed concerns over the future of US-Ghana trade relations following the 10 per cent baseline tax on imports from Ghana, as part of their ambitious and controversial set of tariffs on imports from around the world into the US.

Speaking from the Rose Garden, President Trump defended the tariffs as part of a national economic emergency, arguing that they were necessary to protect domestic manufacturing and counter decades of what he described as “unfair economic practices”.

In spite of growing concerns, Ambassador Palmer reassured Ghanaians about the resilience of the US-Ghana trade relationship, which currently exceeded $3 billion in bilateral trade and investment.

She expressed confidence that Ghana’s key exports, such as gold and gas, would remain vital to global trade and would not be significantly affected by US policy shifts.

“So, it is something that builds prosperity in all the countries.

It is all to say that no matter the changes in language and no matter the change in focus, Ghana remains an important part of the United States, and will continue to be so,” Ms Palmer stated.

The Electronic Transaction Levy (E-Levy) was introduced by the New Patriotic Party

A senior lecturer at the UPSA Law School and member of the New Patriotic Party (NPP) Communication team, Ishaq Ibrahim Esq., has described the Electronic Transaction Levy (E-Levy) introduced by the previous Akufo-Addo-Bawumia government as an unpopular decision.

According to him, the levy was not even supported by some members of the party.

The comment comes after the Ghana Revenue Authority announced the abolition of the controversial 1% Electronic Transfer Levy (E-Levy), effective midnight, April 2, 2025.

The abolition follows the president’s assent to the Electronic Transfer Levy Act, 2022 (Act 1075) and its Amendment Act, 2022 (Act 1089).

Financial institutions and payment platforms have been instructed to cease applying the levy and process refunds for any deductions made beyond the abolition date. Entities that fail to comply will face sanctions.

During a panel discussion on Morning Starr with Naa Dedei Tettey, Ibrahim Esq. noted that the E-Levy was introduced due to difficult economic circumstances.

However, he acknowledged that, in hindsight, it was a wrong decision.

While welcoming the repeal, the NPP communicator stressed that this change should not be credited to the National Democratic Congress (NDC).

He said, “E-levy was an unpopular task, even within the NPP. There was no need for this task because production had not taken place. It’s when production takes place that you can say that let me also have a share of it as a legitimate government. But having said that, Ghanaians will understand that we were in a difficult situation and when you are in a difficult situation, sometimes you take measures that after a second look, you realise that it was a wrong decision.

“It was this reason why when the former Vice President had the opportunity to become the flagbearer, he said the first thing he would do was to remove this particular task…Whilst we welcome it, this is not a change that we have to congratulate the NDC for,” he added.