This week in business and financial news, the Ghana Revenue Authority (GRA) said it is enhancing efforts to ensure that importers who engage in the falsification of trade documents to evade taxes are brought to book.

According to the Authority, there is a growing rate of the act which is causing losses to the state.

Therefore, it is liaising with the various agencies to ensure that perpetrators of such crimes are caught and dealt with.

Also, Ghana’s inflation for the month of August this year eased to 40.1 percent from an earlier 43.1 percent recorded in July 2023, the Ghana Statistical Service has announced.

This represents a 300 basis points drop in the monthly inflation for August this year.

Government Statistician, Professor Samuel Kobina Annim speaking with journalists in Accra on September 13 said food inflation, which has been a major driver of national inflation in the past months declined to 51.9 percent in August from an earlier 55.0 percent in July.

Elsewhere, the Chief Executive of the Ghana Cocoa Board, Joseph Boahen Aidoo, has responded to claims by the former president, John Mahama, that cocoa farmers are being shortchanged by the recent increase in farm-gate prices of cocoa.

The COCOBOD said the post by John Mahama was shrouded in error and has generated some level of misconceptions and miscommunications from the public.

According to him, it is imperative that he responds and clears those misconceptions.

Meanwhile, the Director of Business Operations at Dalex Finance, Joe Jackson, has bemoaned the high-interest rates on treasury bills in recent times.

According to him, it does not make economic sense for the government to be borrowing at such high rates while investors also lend at such high rates.

He said he is even more perplexed at the fact that the bids get oversubscribed.

“How can we after taking such bold steps to reduce domestic debt to bring our debt levels to sustainable levels be now piling up short-term debt- 91 Day Bill at 27% and 182 Day Bill at 28 % and 364 at 31%. This does not just make sense especially when the bids are oversubscribed,” he quizzed.

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