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WE THE NPP's LIVING IN ITALY AIMS TO HELP BUILD A DEVOLOPED GHANA.

22/01/2018

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17/02/2017

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28/11/2014

November 23, 2014

27/09/2014

THE

IMF Staff Concludes Visit to Ghana

Press Release No. 14/439

September 26, 2014

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion.

At the request of the Ghanaian authorities, an International Monetary Fund (IMF) mission led by Mr. Joël Toujas-Bernaté initiated discussions on a possible program of economic reforms that could be supported by the IMF. The mission met with President Mahama; Vice-President Kwesi Amissah-Arthur; Dr. Kwesi Botchwey, Chairman of the National Development Planning Commission; Finance Minister Seth Terkper; Minister of Gender, Children and Social Protection Ms. Nana Oye Lithur; Bank of Ghana Governor Kofi Wampah; other senior officials, and representatives of the private sector, the donor community and civil society.
Mr. Toujas-Bernaté made the following statement at the end of this visit:

“Ghana continues to face significant domestic and external vulnerabilities on the back of a large fiscal deficit, a slowdown in economic growth and rising inflation. These vulnerabilities are putting Ghana’s medium-term prospects at risk. The mission estimates growth to decelerate to 4 ½ percent in 2014, from 7.1 percent in 2013, and inflation to reach an average of around 15 percent for the year. The fiscal deficit is expected to remain elevated at around 9 ¾ percent of GDP, driven by weak revenue performance, a large wage bill and substantially rising cost of debt service. The external current account deficit is projected to narrow to 10 percent of GDP, as imports declined substantially due to slower growth and a large depreciation of the currency, while export performance remained weak. The currency weakened sharply through August, before recovering very recently. In September, the issuance of a US$1 billion Eurobond and the Cocoa Board (Cocobod) successfully raising US$1.7 billion for the financing of a projected excellent cocoa crop were positive developments. Nonetheless, gross international reserves will remain at a low level.

“The mission had constructive and candid discussions with the authorities who showed an appreciation of the risks associated with these imbalances and vulnerabilities. The authorities identified earlier this year a set of measures designed to put the country back on track, while preserving growth momentum. While important, these measures have not managed to turn the financial situation around as a result of some implementation delays which have set back the objectives of putting public debt on a more sustainable path and reducing inflation. The authorities expressed their intent to prepare and implement additional upfront measures building on ongoing broad consultations.

“The conclusions of the last Article IV consultation (see Press Release No. 14/221) remain valid. A more ambitious and front loaded fiscal consolidation is needed to help place public debt on a sustainable path, and to allow monetary policy to be more effective in bringing down inflation, including by strictly limiting budget deficit financing by the Bank of Ghana. Front loaded adjustment should be realized through reductions in Ghana’s comparatively high public sector wage costs, the elimination of costly and untargeted subsidies for energy and petroleum products, and a better prioritization of capital spending. On the revenue side, reduction of tax exemptions and strengthened revenue administration through a better targeting of large taxpayers appear necessary. At the same time, it will be important to expand well targeted social protection programs to mitigate the potential impact of fiscal consolidation measures on the most vulnerable groups of the population. In the medium term, structural reforms and institutional changes will be key to sustainable fiscal consolidation and lasting expenditure discipline.

“Discussions on a possible program that could be supported by the IMF will continue in Washington during the Annual Meetings. ”

IMF COMMUNICATIONS DEPARTMENT
Public Affairs Media Relations
E-mail: [email protected] E-mail: [email protected]
Fax: 202-623-6220 Phone: 202-623-7100

23/07/2014

Meet Judith from Tanzania. She is turning cow dung to homemade biogas fuel to save money on expensive cooking fuels.

23/07/2014
23/07/2014
Corrupt and greedy leaders keep Africa poorPosted by today on Jul 11th, 2014 // No CommentThe main reason Africa’s peopl...
13/07/2014

Corrupt and greedy leaders keep Africa poor
Posted by today on Jul 11th, 2014 // No Comment
The main reason Africa’s people are poor is because their leaders have made this choice. Leaders in Africa provide bold examples of this assertion such as the genocide in Rwanda, the destruction of Zimbabwe’s economy, the 2005 famine in Niger, the war in Darfur, Somalia, Guinea, Angola, Congo, and so on. And there is less obvious and less headline-creating, but no less destructive examples of policy choices that have capped Africa’s development.
Why has Africa failed to adopt the policies for growth that have proved successful in other parts of the world? The usual, convenient answers are dismissed with cogent argument. No, Africa’s poverty is not the result of lack of access to international markets; in fact, Africa enjoys preferential access to international markets. Africa is not poor because its people do not work hard—low productivity is a function of many things, including poor health, inefficient land use and chauvinism.
It is not because of a lack of technical expertise; expertise is for sale on the international market, (and probably accessible free, via donors!) Africa is not poor because it lacks natural resources – compared with Asia, it has abundance.
By extensive evidence from a wide range of countries across the less-developed world, with widely differing circumstances, it is obvious that the leaders in Africa are corrupt and greedy. Where there is transparency and accountability, low barriers to trade, reduced bureaucracy and simplified procedures, they [leaders of Africa] make money for all.
And where they don’t, only the few with access to power make money, and can sip champagne in glorious luxury as they watch their countries descend into deeper misery and poverty.
Aren’t the colonialists and the developed world at least partially to blame for the misery of Africa? This could be argued either way, but at best is true but useless, and bears a striking resemblance to lying on the psychologist’s couch and blaming one’s parents rather than making a life for oneself and family despite it all.
Singaporeans and Vietnamese seldom mention their history and clearly not because they have nothing to complain about. The Vietnamese say leaders, never voluntarily talk about war, “but are effusive when it comes to expressing a view on the economy, growth and future prospects.”
From Costa Rica, El Salvador, Panama and Colombia, all high-growth economies with complex problems, are identified by a pattern of 13 issues of great relevance to Africa and South Africa.
The first is “Accept Differentiation” – there are different formulas for growth and development depending on circumstances. Another is “Security is a Critical First Step” – it is clearly impossible to make progress without improving the basics. Achieving security in Colombia’s case involved rooting out corruption and having the military and intelligence leadership regularly take lie-detector tests.
“Politics Matters,” as many economic problems are primarily political. In El Salvador, despite their inheritance, people meet the challenges by building respect and capacity in their institutions and also devolve power. In this case, this entails dealing with political patronage and professionalizing the civil service.
“Populism is no solution,” as evidenced from Chaves, Morales, Ortega and Correa. Who will do business with a country where decisions are taken so arbitrarily?
“Leadership is the key” – and particularly leadership that focuses on identifying priorities and has hands-on management. Leadership that tells people what they need to know, not what they want to hear.
Just in case anyone thinks that being the richest country in Africa provides some special chance of avoiding descent into irrelevance, it is worth being reminded of Argentina’s fate. This land rich in natural resources was once the sixth-largest economy in the world – and now ranks 57th.
What may citizens of any country expect from their leaders? At the very least that they make informed choices, based on the needs of the broad population, and not on their or others’ narrow interests. Bad choices have been made because better choices in the broad public interest were in too many cases not in the leader’s personal and often financial self-interest. But this raises the question as to why Africans have allowed this to happen, when democracies, or inklings of it, are ever more evident on the continent?
As with any complex problem, there is never one simple answer and to this problem there are many answers for the many differing entities. They range from the culpability of foreign powers who prop up corrupt and harmful regimes for their own purposes, to the willingness of the civil society to be seduced into accepting the “big man” entitlement

EC announces new date for limited voter registration The Electoral Commission says the rescheduled revision of the voter...
13/07/2014

EC announces new date for limited voter registration

The Electoral Commission says the rescheduled revision of the voters register will take place from Friday July 25, 2014 to Sunday August 3, 2014.

The limited voter registration is opened to Ghanaians who have attained 18 years since the main registration exercise in 2012 and eligible Ghanaians who were above 18 years during the main registration but could not register.

The exercise which originally was scheduled to take place last month was suspended due to a lack of consensus between the EC and the political parties.

According to a statement signed by Deputy Commissioner, Amadu Sulley: "The registration will take place at a designated registration centre in every electoral area".

"Prospective applicants are advised to look out for the registration centres in their electoral area from the newspapers. They may also listen to the local announcement in their area for the place designated as registration centre".

Applicants will be required to show identification documents as proof of eligibility such as National Identification Card, Ghanaian Passport, Drivers Licence or an old voter ID Card.

Eligible applicants who do not have any of the identification documents mentioned may find two Ghanaians who are already registered voters to guarantee their registration by completing a voter registration identification guarantee form.

The registration will start at 7:00am and close at 6:00pm each day of the registration period, including Saturdays and Sundays.

The Commission is appealing to the general public to support it in ensuring that unqualified people and minors do not get unto the voters register by volunteering information on such applicants.

"The information may be provided by filling a voter registration challenge form against the registration of such individuals. All challenges will be investigated by the District Registration Review Committees in the respective districts".

Meanwhile, the EC has announced, it will hold an Inter-Party Advisory Committee (IPAC) meeting on Friday July 18, 2014 to discuss revision of the voters register, the Report on inspection of political party offices, proposals for reforms submitted by political parties and civil society and any other business

Stop the politicisation of the public serviceUNDOUBTEDLY, the politicisation of civil and local government services is n...
13/07/2014

Stop the politicisation of the public service

UNDOUBTEDLY, the politicisation of civil and local government services is negatively affecting the effectiveness and productivity of workers in the country. This trend, Today believes, if not check to ensure that the public service is non-partisan will undermine the developmental agenda of this nation. Government must be prepared to give all staff equal opportunity based on experience and technical competence, instead of being choosy and relying mostly on political followers and those who pay lip-service to the government.

WHAT we think has accounted for this is that, the government machinery at both the central and local levels are not being properly fuelled to support the growth of the economy, whereas more resources are being channelled into newly created institutions or bodies that are mere replications.

AS a nation, we must endeavour to avoid the temptation of always having our political leaders usurping both administrative and political powers and assigning positions, transfer, suspension and dismissal of staff without recourse to laid-down procedures and norms. It is important we encourage continuity in government to ensure positive progression in our quest to better the lives of people.

IN fact, the worry of many Ghanaians,is the absolute politicisation of the civil and local government services which has created undue tension and polarization at various public offices in the country. One cannot rule out, the need for making our civil and local government services assume national dimension is essential for the nation’s growing democracy.

THE truth of the matter is that, the sort of multi-party democracy being practised in Ghana is discriminatory and contravenes the 1992 constitution since after elections the party in power forgets that the government is for all. In fact, this situation has been the bane of the country’s economic woes which must be looked into critically, if we still want to be counted among the league of prosperous nations.

THERE is the need therefore to give greater attention to improve the performance of the civil and local government services. Workers must be given the opportunity to contribute their quota to achieving the objectives of services without hindrance.

13/07/2014

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