President Nana Addo Dankwa Akufo-Addo has explained that his government decided to seek collaboration with the International Monetary Fund (IMF) as a way to repair in the short run, Ghana’s public finance, which has been severely hit by the effects of COVID-19 and the Russian invasion of Ukraine. “I am confident that with determination, hard work, unity and the proverbial Ghanaian sense of enterprise. We will succeed, we will make it and indeed this too shall pass” he added. It was President Akufo-Addo’s first public comment since the government decided to engage the IMF. He was speaking at a swearing in ceremony of...
Substance believed to be crude oil discovered at Apremdo in Western Region
Residents of Apremdo in the Western Region have discovered an unknown substance beneath the soil.The black sticky material is suspected to be crude oil. Following the finding on Sunday, the traditional ruler in the area, Nana Egya Kwamena XI took up the matter. According to him, the community would investigate and ascertain what exactly the substance could be. Nana Egya Kwamena XI in an interview with journalists explained that since the community could not readily confirm the content of the substance, experts have been invited to investigate the material. “This is a substance coming out from the ground found inside...
Joe Jackson tackles Johns Hopkins’ Professor on his comment that new IMF programme in Ghana will fail
Chief Operations Officer at the Dalex Finance, Mr Joe Jackson has disagreed with assertion by a Professor of Applied Economics at the Johns Hopkins University, Steve H. Hanke that another International Monetary Fund (IMF) programme in Ghana will fail. Following the announcement by the Government of Ghana on Friday July 1 that the country was heading to the IMF for support, Prof Hanke in a tweet stated that the programme will fail in the Ghanaian economy just like the previous 17 under the Fund. “Today, I measure inflation in Ghana at a stunning 49.35%/yr. In a last ditch effort, the government has...
GES Berates Teachers Union Over Strike
The Ghana Education Service (GES) has invited the leadership of the Teacher Unions who have declared withdrawal of their services to a meeting. The meeting is “to discuss the development and the way forward”. Four pre-tertiary teacher unions – the National Association of Graduate Teachers (NAGRAT), the Ghana National Association of Teachers (GNAT), the Teachers and Educational Workers Union (TEWU), and Coalition of Concerned Teachers-Ghana (CCT-G) – on Monday, July 4 declared the strike over what they say is neglect by the government to their demand for a 20 percent cost of living allowance (COLA). Notice of this was given...
IMF Team Lands In Ghana Today
A delegation from the International Monetary Fund (IMF) is scheduled to arrive in Accra today Tuesday July 5, the Ministry of Finance has announced. The arrival of the officals is subsequent to the directive by President Nana Addo Dankwa Akufo-Addo, for the Finance Ministry to commence engagement with the Fund to support Ghana’s economic programme. “Pursuant to this, a delegation from the Fund is scheduled to arrive in Accra on Tuesday 5th July, 2022, to commence in-person meetings with the Government of Ghana on Wednesday 6th July, 2022. “The Ministry further takes this opportunity to assure Ghanaians of the Government’s...
Mahama Abused Mills – Koku Anyidoho Claims
Former Deputy General Secretary of the opposition National Democratic Congress, Samuel Koku Anyidoho is claiming that then Vice President John Mahama used to abuse his boss, President John Atta Mills. Koku, Founder of Atta Mills Institute and former Communications Director at the Presidency alleged this in a series of posts on his Twitter handle. He claimed that the time has come for him to talk about what he knows and saw working with President Atta Mills. He claimed the former President, John Mahama never respected Atta Mills and was consciously abusive of the law professor. “John Mahama NEVER respected President...
Oppong Nkrumah addresses concerns that an IMF programme will affect free SHS, ID1F programmes
Information Minister Kojo Oppong Nkrumah has assured that there will be frank negotiations with the International Monetary Fund (IMF). Asked about the future of the Free Senior High School (SHS) and the One District One Factory (1D1F) initiatives due to an IMF porgramme, he told TV3’s Paa Kwesi Asare in an interview that “We expect some very frank negotiations and it will determine where we are going on those progammes.” IMF officials are expected to arrive in Ghana this week to begin negotiations with government. Asked again what should be expected Mr Oppong Nkrumah said “First of all , we, in March put out...
Apologise to Ghanaians – Sammy Gyamfi to gov’t
The National Communications Officer of the National Democratic Congress (NDC), Sammy Gyamfi, is demanding an unqualified apology from the government for the “excruciating hardships they continue to impose on the Ghanaian people”. According to the NDC executive, despite the current government being the most-resourced in the history of the Fourth Republic, it has not been able to sustain the economy but rather gone to the International Monetary Fund (IMF) for a bailout. He insists that if the NDC, led in 2015 by John Dramani Mahama, had the same resources like the New Patriotic Party (NPP), they would not have gone to the IMF. “The...
IMF loan will not save Ghana’s economy – US Economist
The government of Ghana’s U-turn decision to meet the International Monetary Fund (IMF) for bail out is still a major topic for discussion this week. One group feel going to the IMF is the right decision while others feel the move will not help Ghana. An international economist from the John Hopkins University, USA, Professor Steve Hanke has said the current IMF programme Ghana want to sign will fail, according to a report filed by the BBC. According to Professor Steve Hanke, another IMF loan will not save Ghana’s economy, He said just like the the past 17 IMF programmes, a new one will fail. He also revealed that...
4 teacher unions declare nationwide indefinite strike over COLA
Four teacher unions have declared a nationwide strike over government’s inability to meet the deadline for their demands for the payment of Cost of Living Allowance (COLA). This follows the expiration of a June 30 deadline the unions gave government. The unions are the Ghana National Association of Teachers (GNAT), National Association of Graduate Teachers (NAGRAT), Teachers and Educational Workers’ Union (TEWU) and Coalition of Concerned Teachers (CCT). At a joint press conference, by the education unions on the allowance, the teacher groups expressed disappointment at government’s failure to heed their calls. General Secretary of GNAT, Thomas Musah, who read...