Global Coalition Mobilizes to Restore Passage Through the Strait of Hormuz

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  Read more In a rare display of unified diplomatic and strategic resolve, a coalition of more than 40 nations has convened to address the de facto closure of the  Strait of Hormuz .   This critical maritime chokepoint, through which roughly one-fifth of the world’s oil supply typically flows, has seen a collapse in commercial traffic following a series of regional escalations and mine-laying activities in early 2026. A Growing International Front Led by the United Kingdom and supported by key allies including France, Germany, Japan, and Canada, the coalition has expanded to include a diverse array of signatories from the Global South and the Middle East, notably  Bahrain  and the  United Arab Emirates . The coalition's efforts are centered on several key pillars: Diplomatic Pressure:  Utilizing coordinated economic measures to encourage the reopening of the waterway and adherence to  UN Security Council Resolution 2817 . Maritime Security:  ...
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President Mahama Directs End to Foreign Currency Denominated Government Contracts

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ACCRA, Ghana – In a significant policy shift, President Mahama has issued a directive that, effective today, July 24, 2025, all government contracts awarded will no longer be denominated in foreign currency. This new mandate applies irrespective of the funding source for the contract.

The directive was announced by Ato Forson, though further details on the implications and rationale behind the decision are anticipated. The move suggests a strategic effort by the government to potentially strengthen the local currency, manage foreign exchange risks, and promote greater stability within the national economy.

This policy change is expected to have broad implications across various sectors engaged in government projects, from infrastructure development to service provision. Contractors and stakeholders will likely need to adjust their financial planning and bidding strategies to align with the new requirement for local currency denominations.

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