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Thursday 28 March 2024

2021-04-07

[N] As Majority Leader be circumspect with your utterances

2021-03-19

[I] Goldman Sachs staff revolt at ‘98-hour week’
[I] Over half of staff go back to workplace
[I] Health chiefs confirm Oxford-AstraZeneca Covid jab safe to use
[S] Kotoko Signs Second Brazalian Player
[N] It Is A Blatant Lie That I’ve Declared My Prez Ambition-Agric Minister
[S] Accra Mayor to change face of sports in Greater Accra
[S] Ambassador Lutterodt charges GOC prez to tackle Martha Bissah issue
[S] Ben Nunoo-Mensah hits ground running for GOC
[S] Black Stars to Engage Uzbekistan In International Friendly
[N] House of Chiefs calls for collaboration with MMDCEs for development
[N] Baby Harvesting: More suspects picked
[N] Police pledge commitment to bringing Sheikh Maikano’s murderers to book
[B] ARB Apex Bank admitted to Ghana-Sweden Chamber of Commerce
[N] Desist from starting race ahead of time - Obiri Boahen to NPP presidential
[N] Gov’t announces construction of five interchanges in Ashanti
[N] Controversial textbooks: NPP urges NaCCA to enforce rules without fear or favour
[N] Staff working on Tamale interchange call off strike
[N] Newly proposed taxes a huge hindrance to businesses’ recovery
[N] Government can’t take a unilateral decision on salaries for public workers
[N] Ghana records 2 new Covid-19 variants; experts call for immediate action

2021-03-17

[S] First GFA safety and security seminar takes place today
[B] NDPC holds consultation medium term framework for 2022-2025 in Oti
[B] More investments recorded in Western Region despite COVID-19
[N] Ghana records 698 COVID-19 deaths
[N] NDC’s Ofosu Ampofo behaves like a toddler – Allotey Jacobs
[S] Don’t tax sports betting, ban it – Ato Forson to government
[N] Ama Benyiwaa Doe slams Allotey Jacobs; says he has no influence
[N] Approving Akufo-Addo’s ministers ‘regrettable and unfortunate’ – NDC caucus
[S] Don't rush Satellites players, warns GFA coaching boss
[N] Eastern Regional Hospital detains 246 patients for non-settlement of bills
[N] COVID-19 vaccination in Ghana: 1,000 reports received on adverse effects
[N] Ignore reports of rift between local, foreign staff at AfCFTA secretariat – Govt
[N] Remain calm, support our leadership in Parliament – NDC Council of Elders
[N] Ghana hasn’t recorded any case of blood clots from COVID-19 vaccination – FDA
[N] 9-year-old boy burnt to death as stepfather sets house ablaze
[B] Budget cuts for legislature, judiciary won’t be entertained – Speaker
[I] Half of UK managers back mandatory Covid vaccines for office work
[I] Brussels to propose Covid certificate to allow EU-wide travel

2021-03-16

[I] Nick Candy leads £1m drive to oust London mayor Sadiq Khan
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General News

[ 2015-03-25 ]

Ghana going to the IMF was a mistake - Kofi Amoah
An accomplished Ghanaian entrepreneur, Dr Kofi
Amoah, is not in favour of the Ghana
government’s decision to resort to the
International Monetary Fund (IMF) for a bailout to
salvage the ailing economy.

The West African nation is expecting about $940
million from the IMF over a three-year period to
inject life into a careworn economy.

According to the accredited African partner for
the Western Union Money transfer business,
“going to the IMF was a mistake” and the
programme may not inure to the benefit of the
oil-producing country.

The 2016 vice presidential candidate of the main
opposition New Patriotic Party (NPP) Dr Mahamudu
Bawumia just lashed out at the Mahama-led
administration on Tuesday for seeking refuge in
the Bretton Wood institution when it could have
avoided it.

He said the anchor being sought from the IMF for
Ghana’s economy will not hold if the data upon
which the programme is built is not credible.

According to the former Deputy Governor of the
Bank of Ghana, there are inconsistencies with the
two main sets of data based on which the programme
is fashioned – inflation and the GDP.

“Any economic and financial programme is only as
good as the data used to formulate the programme.
Credible data provides the basis of the analytical
framework to respond adequately to economic
challenges. If you have make-believe data you will
end up with counterproductive or inadequate
responses to economic policies. If your data is
not credible, the anchor cannot hold. With
make-believe data as the basis, the best you can
achieve is make-believe results which will soon be
exposed as we are witnessing currently,” Dr.
Bawumia made the disclosure while speaking on the
topic: “The IMF Bailout, Will the Anchor Hold”
at a public lecture organised by the Central
University College as part of their
‘Distinguished Speaker Series’.

Speaking in an interview with Citi FM, a day after
Bawumia’s presentation, Dr Amoah said:
“Whether you believe in Seth Terkper [Finance
Minister] or Bawumia is not the issue. The fact of
the matter is that we’re overly indebted.”

According to him, the country’s major currency,
the Cedi, is “devaluing because we’re not
producing and exporting enough goods.”

To him, Ghana is not “running an economy but a
Ponzi scheme… we can’t say we have an economy
when 60% of our budget is supported by development
partners.”

He added: “We import about $1.5 billion worth of
food every year. This is not acceptable.”

Source - Starrfmonline



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