Day: June 19, 2023

The Government says it is hopeful of completing Ghana’s outstanding debt restructuring by September 2023 for a fruitful implementation of the US$3 billion International Monetary Fund (IMF) loan-support programme.

Mr Ken Ofori-Atta, Finance Minister said this when he provided an update on Ghana’s economy, the IMF programme and growth agenda on Monday evening in Accra.

He said that the Government had ‘successfully worked with the Paris Club and other creditors to determine the parameters for official debt restructuring under the G20 common framework for debt treatment.’

The country was also in the process of getting a Memorandum of Understanding (MoU) with its bilateral creditors, Mr Ofori-Atta said, adding that ‘We expect to finalise these negotiations before the next review, which is in September.’

‘We are at advanced stages of completing the debt exchange programme in relation to the cocoa bills and the US dollar denominated local bonds,’ the Finance Minister said.

The IMF over the week concluded an assessment of Ghana’s preparedness for the first review of the $3bn loan-support programme, which had been scheduled for September, 2023.

The Fund noted that against a complex global economic backdrop, the Ghanaian economy was showing signs of stabilisation, with softening inflation, an increase in international reserves, and less volatile exchange rate.

However, the Fund reiterated that timely restructuring agreements with creditors was essential to secure the expected benefits of the Fund-supported programme.

A similar call was made by the IMF when its Executive Board approved Ghana’s loan-support programme in and a subsequent disbursement of a first tranche of $604m on Friday, May 19th, 2023.

There have been some concerns about the freeze on employment in the public sector as contained in the 2023 budget.

Responding to that, Mr Ofori-Atta said that the Government was intentional in ensuring that growth and job creation were not sacrificed in the process of restoring macroeconomic stability and debt sustainability.

He remarked that the Government was working to improve the business environment, reducing the cost of doing business and enhancing export competitiveness.

Local content legislations would be reviewed to encourage Foreign Direct Investment (FDI) while leveraging the opportunities offered by African Continental Free Trade Area (AfCFTA).

There would be the promotion of entrepreneurship through initiatives such as the YouStart Programme (to create more jobs) with the Banking Sector and Faith Based Organizations (FBOs).

Again, the Government said it would be fast-tracking the implementation of key growth-oriented programmes under the Ghana CARES (Obaatan Pa) Programme.

Those programmes included the Economic Enclave Projects to enable self-sufficiency in rice, maize, vegetables, and poultry, and supporting large-scale agriculture and agribusinesses interventions through the Development Bank of Ghana.

The Central Bank’s transitioning to a digital economy would boost productivity, tax collection, and formality, expanding digital government services and promoting the BoG’s digital currency for digitalisation and financial inclusion.

Mr Oori-Atta said with adequate safeguards in place, strengthening policies to support climate change adaptation and mitigation for inclusive growth.

Ghana’s three-year PC-PEG programme is to provide balance of payment support as part of a broader effort to quicken the country’s recovery from an economic crisis induced by a pandemic, Russia-Ukraine war and internal structural problems.

It is to also help create the conditions for inclusive and sustainable growth and job creation, help to alleviate the exchange rate pressures and depreciating currency, and provide a catalytic effect on additional sources of financing.

Source: Ghana News Agency

Madam Yaa Serwaa, the Headmistress of the Duayaw-Nkwanta Serwaa Kesse Senior High School in the Ahafo Region, has appealed for support to complete the school’s fencing project for improved security.

She expressed concern about the uncontrolled cases of stealing and burgling in the school, saying because the school was not fenced, it was open to thieves and other miscreants.

Mad. Serwaa made the appeal in an interview with the Ghana News Agency after Dr. Freda Prempeh, the Member of Parliament (MP) for Tano North constituency presented some cadet uniforms and bulbs and street lights to the school at Duayaw-Nkwanta in the Tano North Municipality.

The Headmistress said the school’s population had increased significantly due to the implementation of the Free Senior High School (FSHS) Programme hence the need for more classroom blocks to facilitate effective teaching and learning.

Established in 1967 with only 50 students, Madam Serwaa said the school had about 2,200 student population now and appealed for the completion of an abandoned classroom project, being built by the Ghana Education Trust Fund (GETFund).

She said most of the classroom blocks were in deplorable condition and thus needed urgent rehabilitation, adding that the home economics block for practical works also required expansion.

That notwithstanding, Madam Serwaa said students’ academic performance had improved significantly and commended the staff and non-teaching staff for their hard work.

She also lauded the exceptional contributions of the MP towards tacking the pertinent challenges confronting the school.

Dr. Prempeh commended the school for its rapid growth and development, and advised the students to be disciplined and concentrate on their studies.

She said the government had made huge investments in the FSHS Programme and inspired the students not to disappoint President Nana Addo Dankwa Akufo-Addo and their parents and guardians.

Source: Ghana News Agency

Dr Owusu Afriyie Akoto, a flagbearer hopeful of the New Patriotic Party (NPP), has urged delegates of the NPP to use his ‘track-record’ as former Agriculture Minister as basis for his election as flagbearer of the Party.

‘During the six years of my service in the Akufo-Addo government, we laid the foundations, both in terms of programmes, in terms of legislation, in terms of intellectual capacity, and all that, to build an agriculture sector, which will provide the finances, both foreign and local, to finance our industrial development, to finance our education, to finance our health, to finance our infrastructure, including motorways, farm trucks, and all that requirements that we need to make a good country,’ he said.

Dr Akoto said this when he filed his nomination forms on Monday, June 19, 2024, to contest the Presidential primary of the NPP on November 4.

He was accompanied by some former regional chairmen of the Party including Mr Alfred Boye, a former Greater Accra Regional Chairman and Mr Kenwood Nuworsi, a former Volta Regional Chairman

Dr Akoto, a former Food and Agriculture Minister for six years under the Akufo-Addo-led government, is seeking to lead the Party as its flagbearer in the 2024 general election.

The former Minister reiterated his promise to leverage the potential of the agricultural sector to turn the economic fortunes of the country around.

He said the agricultural sector had great potential to address the country’s economic challenges and reduce its reliance on foreign support such as the International Monetary Fund and therefore, urged delegates of the NPP to vote for him to lead the Party into the 2024 general election and ultimately, President of the country.

‘I can assure you, the same way I was able to bring agriculture to the frontline of policy discussion, it will be the same way that agriculture will be used to take us out of the clutches of IMF, because the agricultural sector in this country has great potential, and we haven’t even scratched the surface of it,’ he said.

He added that: ‘I’m appealing to you that when the time comes, vote for Owusu Afriyie Akoto. He will get this party great again and we’ll also turn things around to ensure that this country becomes prosperous.’

The NPP, on Friday, May 26, opened nominations for the election of its presidential candidate for the 2024 general election.

The exercise is expected to end on Saturday, May 24, 2024.

Already, five out of the 11 presidential hopefuls who picked up forms to contest the primary have filed their nominations forms.

They include Alan Kyerematen, former Trade and Industry Minister, Vice President Dr Mahamudu Bawumia, Dr Afriyie Akoto, former Food and Agriculture Minister and Dr Kofi Konadu Apraku, an Economist.

Source: Ghana News Agency

Ghanaian actress Yvonne Nelson has released her highly anticipated autobiography, ‘I Am Not Yvonne Nelson,’ which has sparked conversations on social media.

The explosive piece explores Yvonne Nelson’s life narrative, providing insight into her personal experience and career path, which span more than a decade.

Some chapters of the book sighted by GNA Entertainment include ‘Iyanya and My Love Life,’ ‘A Man’s World,’ ‘Genevieve Nnaji and the Rest,’ ‘An Entrepreneur,’ and ‘Prize and Price of Motherhood,’ among others.

Speaking at the launch of the book at the Peduase Valley Resort, Yvonne Nelson revealed that her personal experiences birthed the idea to write the memoir, entreating Ghanaians to get a copy.

‘My life inspired the book. I want people to get a copy of the book, and they would understand why this book is important to me and why I had to write it,’ she said.

Since its release, the book has dominated social media trends, sparking controversies about her alleged affair with a top Ghanaian rapper.

In her book, Yvonne Nelson narrates how the alleged affair with a Ghanaian rapper led to a pregnancy during which the latter was not ready to carry the burden of being a father in his early music career.

Reggae/Dancehall musician Shatta Wale responding to the issue wrote on Twitter: ‘Oh no sark can’t do that ? I don’t believe this aaaahhhh .. #Abortion like how ? Sark ? Naaaa.. He won’t even kill mosquito ..All be lie.’

The launch of the book witnessed a large number of celebrities showing their support for the award-winning actress, with rapper Medikal buying the first copy for GHC 100,000.

Source: Ghana News Agency

A 23-year-old man, who shared intimate video of his ex-girlfriend to contacts on his WhatsApp platform, has appeared before an Adentan Circuit Court.

Ebenezer Sarfo allegedly carried out the act after warning his ex-girlfriend of same.

Sarfo, unemployed, charged with non-consensual sharing of intimate image and sexual extortion, pleaded not guilty.

The court presided over by Mrs Sedinam Awo Balokah admitted him to bail in the sum of GHC300,000 with three sureties, one to be justified.

The court also ordered Sarfo to be reporting every Wednesday to the Police.

The matter has been adjourned to August 2.

The prosecution led by Chief Inspector Maxwell Lanyo said the complainant, name withheld, was a resident of Madina and the accused person, a resident of Ofinso.

The prosecution said the accused person and the complainant were in distance relationship, with the complainant visiting the accused sometimes.

It said during the relationship, the complainant and Sarfo ‘did a video call where the complainant was naked. The accused person diabolically convinced the complainant to place the camera showing her full naked body, which he recorded secretly.

The prosecution said the relationship fell on the rocks, which did not go down well with Sarfo.

It said since the break-up, Sarfo had been threatening the complainant to compel her into ‘unwanted sexual activity because he is in possession of her nude video’.

According to the prosecution, on May 28, 2023, the complainant was on her way to Oyibi to visit her family when she had a WhatsApp message from Sarfo, which read: ‘Do you know I have your nude videos? If you leave me, I will distribute it on social media.’

The prosecution said the same day, at about 3:00pm, Sarfo sent the nude video to a friend of the complainant and a witness in the case.

It said the friend of the complainant alerted her about the video.

The prosecution said when the complainant confronted the accused person, he got infuriated and shared the nude video to his other contacts through Whatsapp platforms.

It said on May 30, 2023, the complainant reported the matter to the Police and the accused was arrested at Offinso and brought to the Police at Oyibi.

Source: Ghana News Agency