Ghana Dept Stock rises to Ghc255 Billion

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July 23, 2020

Ghana’s debt stock has risen to GHS255 billion, as of June 2020. Some GHS50 billion has been added to the debt stock in the last 12 months.

Provisional figures from the Finance Minister, Ken Ofori-Atta, indicated that the current debt stock is 66.36 percent of GDP.

“The increase was mainly as a result of a Eurobond issuance of US$3.0 billion in February 2020, exchange rate depreciation, frontloading of expenditures and the COVID-19 effect which increased the cedi equivalent of the outstanding debt stock,” Mr. Ofori-Atta explained during the mid-year budget review.

The total debt stock was made up ofGHS134.8 billion of external debt and GHS120.8 billion domestic debt. These accounted for 52.7 percent and 47.3 percent of the total public debt stock, respectively.

As a percentage of GDP, external and domestic debt represented 35 percent and 31.36 percent, respectively. In the first quarter of 2020, Ghana added GHS16.9 billion to its debt stock, taking it to GHS 236.1 billion.

This means Ghana added almost GHS20 billion to its debt stock in the subsequent three months, which coincided with the harshest periods of the COVID-19 pandemic.

The debt figures have been a point of attack for the opposition National Democratic Congress.

It claims the Akufo-Addo administration has been adding over GHS 3 billion monthly to Ghana’s public debt stock over the last three years.

Former Finance Minister Seth Terkper also used to argue that Ghana’s total debt stock published by the Bank of Ghana was downplayed and not reflecting the true debt of the country.

GHANAIANS TO CONTINUE TO ENJOY FREE WATER AND ELECTRICITY

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The Genius Bright

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July 23, 2020

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Ghanaians will enjoy another three months of free water and electricity supply as government work to reduce further the burden of the Covid-19 pandemic on the citizenry.

This was announced by The Finance Minister, Ken Ofori-Atta during his Mid-year Budget review said it is because government puts the concerns and aspirations of the ordinary Ghanaian first.

“That is also why we further reduced electricity prices by half and completely provided potable water for free for everybody since March this year. And we will extend it for another three months,” he told Parliament, Thursday.

Announcing yet another package for the citizenry, Mr Ofori-Atta said it is mean to ease the burden of the virus that has wreak havoc the world over.

According to the Minister, the free water initiative would be for all water consumers while the electricity supply would be limited to only lifeline consumers.

“It takes a caring government of the people, and with that, I mean, a Government of all the people, to offer cost-free water to all across the country: representing all domestic and commercial customers in Ghana for three months.

“It takes a caring government to be for the people and for business, large and small, to choose to subsidise electricity consumption by 50 per cent to 4,086,286 households and 686,522 businesses at a cost of ¢1.02 billion in three months. And we will extend the coverage for lifeline customers for another three months,” he said

Akufo-Addo Leaves for Mali for Political Crisis Mediation

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The Genius Bright

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July 23, 2020

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The President of the Republic, Nana Addo Dankwa Akufo-Addo, left Ghana on Thursday, 23rd July 2020, at the request of the Chairperson of the Economic Community of West African States, His Excellency Mahamadou Issoufou, President of the Republic of Niger, to help mediate in the ongoing political crisis in Mali, as part of a delegation of ECOWAS leaders who have been assembled by President Issoufou Mahamadou to this end.

President Akufo-Addo will be joined in Mali by His Excellency Muhammadu Buhari, President of the Federal Republic of Nigeria; His Excellency Alassane Ouattara, President of the Republic of Cote d’Ivoire; and His Excellency Macky Sall, President of the Republic of Senegal. They are expected to hold stakeholder consultations with the President of the Republic of Mali, His Excellency Boubacar Keita, the Imam of Mali and Co-ordinator of the Opposition, Mahmoud Dicko, and Civil Society groups, with a view to resolving the impasse.

The President was accompanied by the Minister for Foreign Affairs, Hon. Shirley Ayorkor Botchway, MP; and officials of the Presidency and Foreign Ministry.

The President will return to Ghana later on Thursday, and in his absence, the Vice President, Alhaji Dr Mahamudu Bawumia, shall, in accordance with Article 60(8) of the Constitution, act in his stead.

Source: Presidency.gov.gh

Akufo-Addo Directs Communication Minister to Suspend Directive to GBC

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The Genius Bright

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July 23, 2020

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The President, Nana Akufo-Addo has directed the Minister for Communications, Madam Ursula Owusu-Ekuful to suspend her directive to the Ghana Broadcasting Corporation to reduce its channels from six to three on the Digital Terrestrial Television (DTT) platform.

Akufo-Addo says putting the move on hold has become necessary “pending further consultation with stakeholders”.

“The President of the Republic, Nana Addo Dankwa Akufo-Addo, on Thursday, 23rd July 2020, directed the Minister for Communications, Hon. Ursula Owusu-Ekuful, MP, to suspend the implementation of the directives given to the Ghana Broadcasting Corporation (GBC), in connection with the reduction of GBC’s channels on the Digital Terrestrial Television (DTT) platform,”

a statement from the Communications Directorate of the Jubilee stated.

Earlier, the NMC prevented the Ministry of Communications from limiting the channels of the Ghana Broadcasting Corporation (GBC) and Crystal TV on Ghana’s Digital Terrestrial Television (DTT) platform.

This was after it received a petition from GBC on the matter.

In a statement, the NMC said the directive usurps its mandate, hence cannot be approved.

“The Commission wishes to state clearly that the directive given to GBC and Crystal TV by the Minister for Communications purports to usurp the constitutional mandate and authority of the National Media Commission and same cannot be obliged under our current constitutional dispensation,” NMC said in a statement signed by its Chairman, Yaw Boadu-Ayeboafo.

“It is the view of the Commission that any action by any entity which culminates into limiting or depriving the media of the use of public resources, legitimately allocated to them undermines their capacity to serve the nation as anticipated by the Constitution.”

Liman JCR President Exenorated by Management in Plot to rig Election.

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The Genius Bright

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July 23, 2020

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Management of the Hilla Limann Hall of the University of Ghana says it has found no proof to corroborate alleged plans by the JCR president and some members of the Hall to rig the impending JCR elections, after a virtual investigation was conducted into the said claim.

Earlier in May, an audio and write-up which featured the JCR president, Mr. Peter Kofi Keelson-Aikins and some members of Limann Hall circulated on social media, alleging that plans were far advanced to manipulate the results of the 2020/2021 JCR elections.

It was also stated in the same audio that one presidential aspirant had secured the approval of the Hall’s management, a development that necessitated the halt of all electioneering processes.

After its online forum with persons in the said audio, management of the Hall says all such claims and allegations are completely false as “no evidence was found in support of a plan to rig the impending JCR elections.”

“The said meeting during which unguarded statements were made by the JCR President about Management’s relationship with an aspirant was arranged by Mr. David Quaye, the campaign manager of Lilian Korkor Tetteh, an aspirant for president, at the instance of the latter to partner Mr. Emmanuel Innocent Agbagba as his running mate in the elections,” a statement issued on July 21, 2020 said.

The statement added that although one Miss Lilian Korkor Tetteh takes full responsibility for the said recording, her intentions were not bad.

“Miss Lilian Korkor Tetteh claims responsibility for the said recording, but indicates it was done with no ill intent. The sole purpose of the act was to keep verifiable evidence, to be administered in the occasion of a breach in agreement.”

“Miss Lilian Korkor Tetteh further discloses that upon hearing rumours of plans by Mr. Emmanuel Innocent Agbagba to partner another candidate in the elections, she shared the audio recording with her new manager, one Richard Oduro (also a resident of the Hall), as proof of a breach of agreement. The audio file was then forwarded by Mr. Oduro to another aspirant for the position of president, who in turn uploaded it onto the Hall’s Knesset WhatsApp platform. The audio recording went viral subsequently,” the statement explained.

The statement noted that “both the JCR President, Mr. Peter Kofi Keelson-Aikins and Miss Lilian Korkor Tetteh, have rendered unqualified apology to Hall Management for any embarrassment their actions might have caused them and the Hall as a whole.”

Management of the Hall is therefore assuring residents that it is poised to ensuring “free, fair and transparent elections.”

MID-YEAR BUDGET REVIEW TODAY

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The Genius Bright

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July 23, 2020

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Minister of Finance shall today, July 23, Read the Mid-year budget for 2020. Corona Virus Economic recovery financing and programs for the informal sector are expected to feature prominently.

Livingavenuegh.com shall bring you up to speed with highlights of proceedings.

THURSDAY, JULY 23, NEWS HEADLINES

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The Genius Bright

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July 23, 2020

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President cuts sod for 600 bed Eastern Regional Hospital

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The Genius Bright

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July 23, 2020

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The President of the Republic, Nana Addo Dankwa Akufo-Addo, on Wednesday, 22nd July, 2020, cut the sod for the commencement of construction of Phase One of the new 600-bed Eastern Regional Hospital – a project which will be completed in 36 months.

According to President Akufo-Addo, “Phase one of this new hospital project will involve the construction of a two hundred and eighty-five (285) bed facility, out of the total capacity of six hundred (600) beds. Once fully completed, it will be fitted with the requisite teaching and learning facilities, and will position the Eastern Region on the right side of the healthcare map of our country.”

When completed, the President stated that the new Eastern Regional Hospital will handle and help improve acute care and referral services, as well as lend support to the ever-expanding scope of primary healthcare facilities. Additionally, it will support the development of mutual health insurance organisations within the region and its districts.

With the entire hospital project costing seventy million euros (€70 million), he told the gathering at the new project site, funding has already been secured from Standard Chartered Bank, UK, with credit guarantee support from the United Kingdom Export Financing (UKEF) to the tune of €7,920,000.00.

“Ghana continues to be grateful to UKEF for their continued support in our infrastructure development programme for all sectors of our economy. I am happy to state that the entire funding amount of seventy million euros (€70 million) has already been secured for Tyllium U.K. Ltd, the contractors for this project. They must, therefore, ensure that this project is completed within the thirty-six (36) month period and on budget,” he added

With the hospital set to cover a total floor area of approximately 20,000 m2, it will be fitted with the following facilities: administration, training, conference and teaching facilities; out-patient department; accident and emergency services; adjunct clinical services (pharmacy, imaging with MRI); pathological services; surgical services, including the provision of seven (7) theatres and endoscopy; obstetrics and gynaecology; in-patient wards; burns care unit; ICT installations and provision of Health Information Management System (HIMS); medical waste management system; and provision of mixed type accommodation units for hospital workers.

President Akufo-Addo indicated also that the outbreak of COVID-19 has revealed the unequal distribution of healthcare facilities Ghana, as the nation has tended to focus its infrastructure on Accra and one or two of the other big cities. But, as we have seen, epidemics and pandemics, when they emerge, can spread to any part of our country.

“There are one hundred and one (101) districts in our country without district hospitals; we have six (6) new regions without regional hospitals; and we do not have infectious disease control centres dotted across the country. Government is doing something about it, and, that is why, shortly, the construction of the one hundred and one (101) hospitals in the districts without hospitals will start,” he said.

The President continued, “It will mean that the eight (8) districts in this region currently without hospitals, namely Akyemansa, Asene/Manso/Akroso, Asuogyaman, Atiwa, Ayensuano, Birim South, Kwahu Afram Plains South, and Upper West Akyem will see the construction of district hospitals. Each of the hospitals will be a quality, standard-design, one hundred-bed hospital, with accommodation for doctors, nurses and other health workers.”

In addition to these, President Akufo-Addo noted that Government has also put in place plans for the construction of six (6) new regional hospitals in the six (6) new regions, the rehabilitation of Effia-Nkwanta Hospital in Sekondi, and the construction of a new regional hospital for the Western Region.

“Indeed, Government is committed to modernising all other major hospitals across the country, so they can deliver quality healthcare for our people, and help Ghana become, also, an attractive destination for medical tourism in the Region,” he stressed.

Thanking the Omanhene of New Juaben Traditional Area, Daasebre Oti Boateng, for the gift of the land on which the hospital will stand, he assured that gathering that “this project is a sign of greater things to come for Koforidua, the Eastern Region and, indeed, for the whole nation. Government’s commitment to the total development of Ghana is absolute.”

Media and Public barred from mid-year budget review

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The Genius Bright

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July 23, 2020

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Parliament of Ghana has barred media houses from staging camp in the house of the legislature to broadcast the presentation of the mid-year budget on Thursday.

Members of the public are also barred from the house to witness Ken Ofori-Atta’s presentation as part of efforts The to curb the spread of Covid-19.

Some MPs, Staff and journalists have tested positive for the virus in the past weeks.

The Drector of Public Affairs for Parliament Kate Addo said journalists outside the press corps will not be allowed in to cover proceedings.

She, however, assured that parliament has rolled out enough platforms for the media to feed on for content come on Thursday.

In communicating the decision to MPs, Speaker of Parliament, Prof. Mike Oquaye disclosed some members will be made to either observe proceedings from their offices or sit in the public gallery in order to make space for social distancing.

Meanwhile, the Minority MP for Keta Richard Quashigah has ruled out any hope for Ghanaians in the yet to be presented mid-year budget.

According to the MP, the Finance Minister Ken Ofori-Atta in his usual best will be quoting scriptures to paint a flowery picture of the economy which he describes as propaganda to give the public a false sense of hope.