Browsing: Politics

The World Bank has released GH¢42 million through the Ghana Productive Safety Net Project 2 (GPSNP 2), to support the Government of Ghana (GoG) to pay two cycles of arrears—75th and 76th cycles—of the Livelihood Empowerment Against Poverty (LEAP) for 344,000 beneficiary households.

According to the 2020 State Ownership Report, the SOEs recorded a GH¢2.61 billion loss in 2020, although that was about 50 percent better over the 2019 aggregate loss of ¢5.16 billion. This has pushed the Finance Minister, Ken Ofori-Atta, to call on the managements of the SOEs for more urgent and collective work to address these losses. But, the economist stressed on his advises that, some SOEs over the years have been saddled with debt over issues of mismanagement among others.

He chided President Nana Akufo-Addo’s comments he made during the recent interview with the BBC, where the President sought to defend the state of the Ghanaian economy as a result of the impact of the COVID-19 pandemic and the Russian – Ukraine War.

According to a Bloomberg report, the Ghana Cedi depreciated by 18.21 percent against the U.S dollar in the first quarter of 2022. This places the Cedi as the worst-performing currency in Africa while the Angolan Kwanza is the best-performing currency in Africa as it currency appreciated by 24 percent against the dollar.

Mobile Money (MoMo) vendors across the country complained that, there were madrush withdrawals at their various mobile money vending outlets causing them to run out of cash which has tendency to collapse their petty business in the circumstances of the current economic hardship. However, it took the president, Nana Akufo Addo two working days to assent to the E-Levy law despite majority of Ghanaians haven openly kicked against the levy, especially taxing MoMo. An economics professor at the University of Ghana Business School shared his disappointment at the government for ignoring a better and progressive tax alternatives to push through the regressive E-Levy.

“Warm congratulations to the Senior National Football Team, the Black Stars… for qualifying for the 2022 World Cup in Qatar. I am very proud of the team’s exploits. They have made the entire nation proud,” he tweeted.

In the hung Parliament of 137 MPs apiece for the Majority New Patriotic Party (NPP) side and the Minority National Democratic Congress (NDC) side, a required quorum for the vote would have been 138 MPs, the Minority has explained.

The Hon Member of Parliament for North Tongu in the Volta region, Samuel O. Ablakwa has secured internship package for Ghanaian medical students who were in school in Ukraine and evacuated due to the crisis.

The projects, which are part of the over 30 projects completed in the region and more than 200 nationwide by the Fund, include six-unit classroom blocks and 10-seater public toilet facilities.

Dr Jerry Monfant, an economist has described the current managers of Ghana’s economy as absolutely clueless about establishing good economic models to forestall the looming economic dangers.