CEDI WEAKENS, GOVERNMENT MEETS LABOUR OVER 2027 SALARIES, AND IMF BEGINS REVIEW
Ghana is witnessing a busy news day today, Wednesday, 22nd October 2026, with major developments across the economy, governance, mining sector, and social issues.
From the weakening of the Ghana Cedi to crucial salary negotiations for public sector workers and the arrival of an IMF mission in Accra, here is a comprehensive roundup of the top stories making headlines today.
1. GHANA CEDI WEAKENS AGAINST DOLLAR, POUND AND EURO
The Ghana Cedi has weakened against all three major international currencies today according to the latest Bank of Ghana interbank rates.
The US Dollar is trading at GH¢11.6492 for buying and GH¢11.6608 for selling, up from GH¢11.60 yesterday.
The British Pound has seen the biggest jump, now trading at GH¢15.5947 buying and GH¢15.6115 selling.
The Euro is at GH¢13.0686 buying and GH¢13.0815 selling.
This means importers and travelers will need more cedis to buy dollars, pounds and euros. On the open forex bureau market, the dollar is selling as high as GH¢12.25.
The Bank of Ghana has attributed the slight pressure to increased demand for dollars ahead of Christmas imports and has assured the public that it has enough reserves to stabilize the currency.
Financial analysts are advising Ghanaians to be cautious with dollar transactions and to avoid panic buying.
2. GOVERNMENT AND ORGANISED LABOUR MEET TODAY OVER 2027 SALARY INCREASE
All eyes are on the Ghana Employers Association Conference Room in Accra today at 2:00 pm where the Fair Wages and Salaries Commission (FWSC) has invited government and Organised Labour to continue negotiations for the 2027 National Base Pay.
In a letter dated 20th October 2026 signed by FWSC Chief Executive Dr. George Smith-Graham, the Commission said the meeting is part of its mandate to determine public sector salaries in line with government’s pay policy.
This meeting is very crucial because it will determine how much salary increase public sector workers under the Single Spine Pay Structure will get next year. Teachers, nurses, doctors, civil servants, police, and all public workers are eagerly waiting for the outcome.
Labour unions are reportedly demanding a 30% increase due to high cost of living, while government is proposing around 12% due to IMF conditions and budget constraints. No agreement has been reached yet, but today’s meeting is expected to set the tone.
The FWSC is currently transitioning into the proposed Independent Public Emoluments Commission which will handle all public sector salaries in future.
3. IMF MISSION BEGINS TWO-WEEK REVIEW IN GHANA
An International Monetary Fund (IMF) mission led by Dr. Ruben Atoyan has arrived in Ghana today to begin a two-week assessment of Ghana’s economy.
According to the Ministry of Finance, the IMF team will review Ghana’s fiscal performance for 2026, assess progress in preparing the 2027 Budget, evaluate debt sustainability, and review monetary policy implementation under the Policy Coordination Instrument (PCI).
Ghana exited the Extended Credit Facility programme in 2025 but is now under the PCI which is a non-financing programme that signals to investors that Ghana’s economy is being managed prudently.
The IMF mission will meet with the Bank of Ghana, Ministry of Finance, Ghana Revenue Authority, and other stakeholders. Their report will be crucial for investor confidence and for Ghana’s upcoming Eurobond coupon payments.
4. GOVERNMENT MOVES TO STANDARDISE MINING PAY
In a major policy shift, the Ministry of Lands and Natural Resources has ordered the Minerals Commission to standardise pay and employment conditions across the mining industry.
This follows government’s directive that all mining companies should transfer operations from multinational companies to local contractors by December 2026 as part of local content policy. Major companies affected include Newmont, AngloGold Ashanti, Zijin, and Ghana Manganese Company.
Labour unions, especially the Ghana Mine Workers Union, opposed the policy, fearing that local contractors will pay workers less and reduce benefits.
To address this, the Ministry said late yesterday that there will be zero tolerance for unfair labour practices, cartelisation, bid-rigging and fronting.
The Minerals Commission must ensure no worker suffers a pay cut as a result of the shift and must submit proposals by November 30, 2026.
This is good news for over 30,000 mine workers across Ghana.
5. PRESIDENT MAHAMA AT FINANCIAL TIMES AFRICA SUMMIT IN LONDON
President John Dramani Mahama, who is currently in London, delivered a keynote address at the Financial Times Africa Summit today.
He told global investors: “We are friends to all and enemies to none. No competition!” He said Ghana is open to all investors whether from America, Europe, China or Russia, and Ghana will not take sides in geopolitical rivalries.
He used the platform to market Ghana as the gateway to Africa under the African Continental Free Trade Area (AfCFTA) and invited investors to invest in Ghana’s 24-hour economy policy.
6. COURT AND SECURITY NEWS
– The Accra High Court has refused an application by former NPA CEO Dr. Mustapha Hamid to travel outside Ghana while standing trial for alleged corruption.
– An Accra Circuit Court has remanded a 38-year-old driver for selling unregistered Royal Tapentadol tablets.
– DVLA has warned the public about fake SMS messages from scammers claiming to collect fines.
– The Attorney-General has filed an appeal at the Supreme Court to overturn a Court of Appeal decision in the NAFCO trial involving former CEO Hanan Abdul-Wahab Aludiba.
7. KASOA FIRE AND CHILD ABUSE CASE
As earlier reported, fire destroyed over 20 container shops at Kasoa High Tension this morning after Kasoa and Buduburam fire tenders broke down.
Meanwhile, Kasoa Police arrested three fathers for defiling their daughters after the girls reported to school counsellors.
