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GUTA Opposes Bank of Ghana's Rate Hike, Warns of Economic Strain

3/31/2025

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Summary

GUTA Opposes Rate Hike

The Ghana Union of Traders Association (GUTA) is voicing strong opposition to the Bank of Ghana's recent hike in policy rates, warning it will escalate business costs and deepen economic woes. GUTA urges a reevaluation of fiscal policies, advocating for reforms such as adjusting Treasury bill rates and bolstering the domestic bond market to alleviate inflation and support struggling businesses.

Summary

ICU Revives Tomato Factory

The Industrial and Commercial Workers Union (ICU) is calling on the Ghanaian government to breathe life back into the Pwalugu Tomato Factory, a move that could spark job creation for the region's youth. General Secretary Morgan Ayawine emphasized that reviving the factory would not only cut tomato imports by over $400 million each year but also bolster local agriculture, fostering economic growth.

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GUTA Opposes Rate Hike

The Ghana Union of Traders Association (GUTA) is voicing strong opposition to the Bank of Ghana's recent hike in policy rates, warning it will escalate business costs and deepen economic woes. GUTA urges a reevaluation of fiscal policies, advocating for reforms such as adjusting Treasury bill rates and bolstering the domestic bond market to alleviate inflation and support struggling businesses.

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