In the face of Ghana’s economic travails, the country’s Finance Minister, Ken Ofori-Atta is praying for a resurgence akin to the Black Stars’ in the coming months. With the Stars set to return to the world stage later today against Portugal, Ofori-Atta sought inspiration from the team’s rise when presenting the national budget for 2023 in Parliament. With a Ghana sash draped around his neck, Mr Ofori-Atta began by offering support to the team and urging the listening Members of Parliament and the public to do the same. “This afternoon, the senior National Team, the Black Stars, will be representing...
We’ve made substantial progress with IMF – Ofori-Atta
The Finance Minister says government has made significant progress with its negotiations with the International Monetary Fund (IMF). Ken Ofori-Atta said the Fund has assured of its strong support to the country in these difficult times. According to him, a preliminary fiscal adjustment path, and debt strategy have been agreed upon. Presenting the 2023 budget to Parliament on Thursday, Mr Ofori-Atta said negotiations will be expedited for the benefit of Ghanaians. “Mr Speaker, since Government announced its engagement with the International Monetary Fund (IMF or the Fund) for a supported Programme on July 1, 2022, we have made substantial progress....
2023 Budget: Government to cut imports of public institutions by 50%
The Finance Minister, Ken Ofori-Atta has announced some measures in the 2023 Budget aimed at boosting the local productive capacity of the economy. Outlining the measures on the Floor of Parliament, Mr. Ofori-Atta said government will cut the imports of public sector institutions that rely on imports either for inputs or consumption by 50%. It will therefore work with the Ghana Audit Service and the Internal Audit Agency to ensure its compliance. He added that government will support the aggressive production of strategic substitutes, including the list disclosed at the President’s last address to the nation. “We will also support...
Ronaldo and Manchester United issues not our problem- Otto Addo
Black Stars head coach Otto has indicated that the team is not perturbed by Cristiano Ronaldo’s problems with Manchester United ahead of their World cup opener against Portugal come Thursday. Ronaldo will face Ghana without a club after he and Manchester United mutually parted ways on Tuesday, following the Portugal star’s controversial interview. While some believe Ronaldo’s club troubles will have an impact on the 37-year-old’s performance at the World Cup, Otto Addo wants the Black Stars to only focus on the game and not on external issues. “This is not our problem and I don’t think it’s a big...
Covid-19 Emergency Preparedness: Minister lays $60.6 million loan before Parliament
A Deputy Minister of Finance, Mrs Abena Osei-Asare, has laid before Parliament a loan agreement of $60.6 million as a Third Additional Financing for the Ghana Covid-19 Emergency Preparedness and Response project. The Deputy Minister did the presentation of the loan agreement for and on behalf of the Minister of Finance. The Finance Agreement is between the Government of Ghana and the International Development Association (IDA) of the World Bank Group. Mr Alban Sumana Kingsford Bagbin, the Speaker of Parliament, subsequently referred the loan agreement to the Committee on Finance of Parliament for consideration and report to the House. ...
NPP won’t go into opposition under my tenure – Stephen Ntim
The National Chairman of the New Patriotic Party (NPP) Stephen Ntim says he is determined to lead the party to victory in the 2024 elections. According to him, with the support of his party members, defying all odds to win the next elections is his only aim. Mr. Ntim says it will not be in his tenure that the party will go into opposition. “You will agree with me that, I have spent 20 years in the political wilderness before getting to where I am right now. I will not become National Chairman only to take the party back to...
Minority blocks govt’s request for 3 loans amounting to $500m
The Minority in Parliament has kicked against government’s request for parliamentary approval for three loan agreements amounting to $500 million. This includes the request for $150 million for Primary Health Care Programme, $200 million to finance the Ghana Digital Acceleration Project and $150 million to support public finance management for service delivery programme. Speaking to journalists after a Finance Committee meeting in Parliament, a member of the Committee, Thomas Nyarko Ampem said the approval of the loan would only worsen the country’s debt stock. “We are unable to support further approvals for further loans because we believe that if you...
Attend to 2023 budget presentation – Majority, NPP leadership tell their MPs
The leadership of the Majority in Parliament as well as leadership of the New Patriotic Party (NPP) have asked all lawmakers on the side of the government to be present in Parliament when the Finance Minister Ken Ofori-Atta presents the 2023 budget statement. This comes after the lawmakers who are asking Mr Ofori-Atta to go have threatened to boycott the budget presentation if he is the one billed to present the document. Member of Parliament for Asanti-Akyem North Kwame Andy Appiah-Kubi earlier served notice that the aggrieved MPs won’t be in Parliament to support the budget if Mr Ofori-Atta is the one...
Young girls bemoan High cost of sanitary pads.
The challenging economic circumstances currently has affected the cost of goods and services in the country including sanitary pads. The prices of sanitary pads has shot up from five cedis currently selling at 20 Cedis. The soaring inflation has pushed up the cost of pads in Ghana, driving more girls out of school or to unhygienic alternatives that can cause infections and infertility, say health experts. This as a result, some young girls are unable to use hygienic products during menstruation.Some of these young girls and women have resorted to the use of toilet paper while others using rags. Speaking...
52.86% of businesses claim their operations impacted by ‘galamsey’ – Survey
Fifty-two point eight six percent of businesses, according to a 2023 Pre Budget Survey by accounting and auditing firm, KPMG have indicated that their organisations have been impacted by galamsey activities. They are therefore proposing that government implement stringent measures to tackle the galamsey menance. Whilst 44.1% of the respondents who have been impacted by galamsey stated it has impacted their water supply, 20% of the respondents indicated galamsey has impacted their human resources. In terms of Satisfaction Level of Respondents in Government’s Tackling of The Fight Against Illegal Mining, majority of the respondents 84.3% are not satisfied with government’s...