Friday, 1 May 2015

Checking Ghana's rising debt way to affect economy


   Razia Khan

Standard Chartered Africa research boss Razia Khan has maintained that checking Ghana rising debt, could be the way to stabilizing the economy.

Managers of the economy, over the past months have instituted several programmes and policies to halt the country’s economic decline.

These measures, like the homegrown policies, and the IMF programme have so far failed to do the trick in the immediate to short term.

Speaking to JOYBUSINESS in an interview, after the StanChart Africa Summit held in Accra, Razah Khan said the public debt which is inching close to 70 percent of GDP is Ghana’s biggest problem now, adding that things could improve greatly if much attention is given to the country’s debt issues.

The country’s public debt hit 76 billion as at December last year according to the Bank of Ghana. Some have argued that the amount could cross the 70 percent mark, as parliament has approved new loans since the beginning of this year.

The International Monetary Fund has put Ghana on a list of countries that could soon be classified as high debt distress countries.

Razia Khan says it might take a while before, investors react by bringing in capital after Ghana secured a programme with the IMF.

Some investor funds have been frozen because of uncertainty about the management of the economy, and delays in securing a programme. It was expected these funds will come in quickly after the board of the IMF approved Ghana’s programme.

But Razia Khan believes investors currently have a difficulty seeing their way clear because there's a lot going on elsewhere in the world economy.

“Yes investors are enthused about Ghana securing an IMF programme, but there is lot of things going on around the world, like African countries coming under pressure, the dollar in general this year has been strengthening and there are expectations that the US Federal Reserves’ decision to hike interest rates could even affect the decision of these investors,” She added.

She noted that it would be misplaced to expect that investors would react immediately, following the signing of the IMF programme with Ghana.

Mahama is that school kid who is always last – Lydia Forson


Lydia Forson
 Outspoken award winning Ghanaian actress, Lydia Forson has lashed out at President John Mahama for his failure to solve the numerous challenges facing the nation especially, the power crisis.

According to Ms Forson, despite the many chances Ghanaians have given to the President to make do his promises, the problems remain unsolved.

In a letter written to the President and posted on her Facebook page, Lydia Forson indicated that the general public should be aware that “the president really doesn’t care about us; we the little people we the ones who are not significant enough to be bothered about.”

She is the latest Ghanaian celebrity to speak up against government’s inability to permanently fix the energy crisis known as ‘dumsor’.

Below is Lydia Forson’s letter to President Mahama

I’ve been meaning to writing this for a while, but every time I start I’m just reminded of all the drama my friends face on my behalf every time I “speak” my mind. I’ve told them to stop fighting my battles, but well they won’t listen.

Personally I’m past caring about what people think of the things I have to say, it’s not for their benefit that I write; its for the many people who don’t have a voice or a platform like mine to express themselves.

But last night I had an encounter with a man who all but told me that I need to shut up about issues that aren’t about me or don’t concern me.

Now being the lady that I ” pretend” to be I basically tried to keep my cool and let him know, my parents didn’t raise me to be a fool. They raised me to ask questions, think and have an opinion.

So in honour of the fool who’s STUPIDTY can’t be cured I’m about to go in on something I’ve tried to stay out of, you know, just to piss him off a little. Ha, I like that, piss him of!

See I’ve kept mute of this #dumsor issue going on between my friends on social media because the last time I wrote to President Mahama he ignored me.

Chaii dude didn’t even call me !!?????

How much rejection can one take Huh?

One person refuses to marry me and other won’t call me?

Well I’m too much woman for them anyway.

Sorry I digress.

Anyway…. Mahama

Our president is like that kid in school who is always last, always gives the wrong answers and never seems to grasp what is being taught.

But for some reason you keep rooting for him, you keep hoping he will come out and shock everyone, come out and put people to shame, come out and make people take back every little mean thing they said about him.

You keep waiting and waiting until you all graduate and he’s still stuck in the same class because he didn’t pass.

I hate that I have to say this about someone I truly do admire and like many people really want him to make a change.

But when you frustrate people enough, your feelings don’t matter anymore.

The truth is by now you should know, the president really doesn’t care about us ;we the little people we the ones who are not significant enough to be bothered about.

I mean how do you believe the bulls**t he’s constantly trying to feed us about understanding us.

Please Mr.President take several seats on that one because you really have no clue what it’s like to live like us the COMMON people.

Hey I have an idea, why don’t you try having your lights off for maybe 48 hours( and thats being generous) And sleep in the heat because you’re afraid to leave the windows open, in case thieves try to break in.

Oh and on top of that add the fact that you can’t even afford a generator because you’re not making enough to buy one, and when you finally do make some money the value is basically useless because the cedi continues to depreciate.

Let’s see if you don’t lose your mind.

Then and only then will I believe you understand just about 3% of how frustrating to live in Ghana.

So really I’m not even going to address you Mr. President.

I’m going to sit here in the heat and hold my breath till you SHOCK me.( hope I don’t die from waiting)

FYI please tell your little minions who call me every time I write to you to stop, I don’t like that.

And their voices aren’t even sexy, aaah, its you I want to hear from. So if it’s not you they shouldn’t call me. They should also keep their threats in the sandbox they play in when they meet their buddies for play time; I don’t play with kids, too grown for that.

And please oh I apologize to everyone this post will offend, I already apologized the last time and hoped it would cover this post as well. But hey, there’s more to come so my apology covers all the things I haven’t even thought of writing yet.

Happy May Day

#dumsormustSTOP

Monday, 20 April 2015

Dr. Bawumia escapes NDC attack


The Vice presidential candidate of the New patriotic party (NPP), Dr Mahamudu Bawumia, avoided a scheme by some elements in the ruling National Democratic congress (NDC) to embarrass him during his visit to the Volta region last week.

Dr Bawumia was scheduled to hold some meetings in the region last Friday but decided to reschedule them after the NPP picked credible information about a plot by some members of the NDC to disrupt the event in retaliation of the humiliation suffered by two deputy ministers in Kumasi last week.

Five government appointees, including deputy minister of education, Samuel Okudzeto Ablakwa and deputy minister of communications, Felix Kwakye Ofosu, were hooted at by students of colleges of Education in the Ashanti region over the withdrawal of their allowances, accusing the government officials of using the money to buy luxury vehicles which the students termed ‘allawa cars.’

Dr Bawumia was supposed to meet executives of his party in selected constituencies in the Volta region, appear on some selected radio stations and later address students of the Akatsi college of Education and ho polytechnic.

The programme for Akatsi was scheduled for 2pm while that for the Ho polytechnic was expected to come off at 5.30 pm.

But regional chairman of the NPP, John peter Amewu, said they picked intelligence earlier in the day suggesting that the NDC was planning to disrupt the programmes, especially Dr Bawumia’s planned meeting with students of the Akatsi college of Education and Ho polytechnic, through the foot soldiers.

This has also confirmed by police sources in the region.

After various confirmations regarding the plot, and after meetings with security persons in the region, coupled with contacts with the heads of the two institutions, the NPP Regional executives therefore devised a smart way of averting the planned attack and expose the plot for the whole world to know.

Considering the enormity of the confirmations, the NPP gurus were said to have decided to postpone the programmes and Dr. Bawumia made not to appear on either of the two campuses.

Dr. Bawumia was therefore made to appear on two local radio stations in Ho - Kekeli Fm and Volta premier - as originally scheduled, which incidentally is on the campus of ho polytechnic.

From Volta premier, Dr. Bawumia was expected to move to the Akatsi college of Education to address the students there before returning to Ho in the evening to address students of the ho polytechnic.

It was at this stage that the plan by the regional executives to thwart the attack and at the same time expose it, was set in motion.

Instead of heading to Akatsi, Dr. Bawumia was said to have been made to return to Accra with his team, while the regional executives headed for Akatsi - something which deceived the plotters to think that Dr. Bawumia was indeed coming there.

While the executives were in a meeting with teachers of the Akatsi College of Education, the NDC foot soldiers arrived at the campus with placards to act their prepared script (cause confusion), thinking Dr Bawumia was also there.

However, students of the college who realised what was about to happen, mobilized and engaged in a fierce battle with the hooligans, some of who were said to have pulled out knives and sticks but were eventually overpowered and driven out of the school by the students.

The NPP regional executives after meeting the students and explaining why the programme had to be rescheduled, then left Akatsi and proceeded to Ho.

However, the NDC foot soldiers, who were still oblivious of the fact that Dr. Bawumia had long reached Accra and still believed he was part of the team that went to Akatsi, started flying pictures of the supposed demonstration against Dr. Bawumia on social media.

Thinking that he was among the team to Ho, the NDC elements behind the plot were said to have rolled out the Ho version of the plot.

This time round, hired ‘machomen’ were allegedly dispatched to the Ho Polytechnic campus to cause similar chaos.

However, because the regional CID in the morning had picked up signals of the plot, these assailants were confronted by the police who had dispatched dozens of their men to the campus.

The police were said to have managed to drive the NDC hoodlums away but refused to arrest them since they were not permitted to demonstrate.

The executives of the NPP have since described the plot as unfortunate and despicable.

A pro-NPP group, ‘operation 40% for NPP in Volta Region,’ also issued a statement over the weekend condemning the plot and likening it to the xenophobic attacks in South Africa.

The group was at a loss as to how elements in of the NDC could actually plot to maim Nana Akufo-Addo’s running mate, noting that if the plot had been carried out successfully, it would have led to uncontrollable tension which could have sparked chaos countrywide.

The group, in the statement, thanked God for his intervention in averting the plot and called on the regional house of chiefs to call the NDC to order since such acts could end up tarnishing the image of the region.

It also called on the security agencies to get to the bottom of the matter.

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