Ghanaian Newspaper this morning.
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Ghanaian Newspaper this morning.
Latest economic and financial data released by the Central Bank puts the country's debt stock at GHS127 billion at the end of March this year.
After it met on Friday to review the health of the economy, the data showed that debt has increased from around GHS122 in December 2016 to GHS127 billion.
This represents an increase of GHS5 billion in the debt stock in three months but sources close to government indicate the increase was not as a result of fresh borrowings.
Finance Minister Ken Ofori-Atta says Ghana’s program with the International Monetary Funds (IMF) would only be extended if the country fails to meet all the targets by end of next year.
This is in response to reports that government is currently negotiating with the Fund to extend the program, a development that has been confirmed by World Bank country representative Henry Kerali.
Sources say the push for extension has been influenced by fears that Ghana cannot implement all the needed reforms by April 2018.
World Bank country representative Henry Kerali
The path to returning Ghana onto the path of progress and prosperity, he indicated, is being pivoted by the revival of the Ghanaian economy.
With the majority of jobs in Ghana created by the private sector, the President indicated that “if the private sector does not have the strength to be able to operate and grow, it becomes difficult to create jobs. So our attitude has been that, let us do whatever we can to strengthen the private sector in Ghana to work and create jobs, especially for our young people in Ghana.”
The United States Embassy in Accra is literally begging the national power supply company to sit with them so that they will settle unpaid bills of 2 years.
The Embassy took to their twitter handle to explain circumstances surrounding its alleged indebtedness to the Electricity Company of Ghana (ECG).
Ghana’s sector minister had made comments to the effect that the Embassy owed the ECG, ‘‘The U.S. Embassy in Ghana has not refused to pay any electricity bills. We have been asking for official bills,’‘ one of the tweets read.
Accra, May 17, GNA - Ghana has been described as an important development partner of China on the African continent.
“Since the establishment of diplomatic relations between Ghana and China 57 years ago, the two countries have enjoyed fruitful cooperation in the economic and trade fields, bringing tangible benefits to people of the two countries.”
Sun Baohung, Chinese Ambassador to Ghana, said this at the opening ceremony of the China Trade week in Accra on Wednesday.
Tullow Oil says plans are underway to resume drilling next year to boost output at its Tweneboa, Enyenra, Ntomme (TEN) field once the maritime dispute between Ghana and The Cote d’Ivoire is resolved.
Mr Charles Darku, the Tullow Ghana Managing Director, told shareholders on Wednesday that the drilling of the new wells would help increase production to 80,000 barrels a day from the current expected level of 50,000 barrels for 2017.
Ghana may export power to neighbouring countries by 2020 if current reforms in the energy sector are completed, Energy Minister, Boakye Agyarko has said.
The Minister said the country could be generating in excess energy capacity of 1,700 megawatts because of the many power plants being installed.
Speaking on the final day of the National Policy Summit 2017 at the Accra International Conference Centre Tuesday, the Minister said the excess power will be exported for the money to be invested in other sectors of the economy.
The Vice President, Dr. Mahamudu Bawumia, has indicated that the national digital address system will be rolled out by July 2017.
In his announcement at the National Policy Summit on Monday, Dr. Bawumia stressed that the role of an address system in Ghana was mostly underestimated, but had the potential to be a key component for the growth of the economy
Government has revealed plans to anchor industrialization in the country on the establishment of ten new industrial parks.
According to Minister for Trade and Industry, Alan Kyerematen, each of the ten regions would have one park with the requisite facilities and flexible land schemes to facilitate the setting up of industries.
This initiative which draws heavily on similar models from Asia, is expected to create thousands of jobs for Ghanaians.