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John Mahama Finally Breaks Silence Over His ‘Do or Die’ comment”

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Former President John Dramani Mahama has stated that he will not retract his divisive ‘do or die’ remark about the upcoming 2024 elections.
To the best of John Dramani Mahama’s knowledge and understanding, the statement he made was merely an idiomatic expression.

He stated on Moonlite FM in Sunyani that he stands by his remark.

“It’s an idiomatic phrase. Idioms are used in the English language. I believe those who dropped out of school do not understand idiomatic expressions. Do or die refers to a critical assignment in which you must complete the task or perish. What this means is that [NDC officials] should not wait any longer and should return to the Supreme Court.”

“As a result, we must do whatever is necessary at the polling stations and collation centers. As a result, I will not retract. The next election for the NDC will be a do-or-die situation because we must do the right thing at the polling stations.

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“As a result, I’m telling all of our party executives that they must be at the polling places to ensure that the right thing is done. They must also be present at the collation centers to ensure that the proper procedures are followed.

 

 

 
 
 
 
 
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Source: www.GhanaCNN.com

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IMF Won’t Lend To Ghana If Debt Levels Are Unsustainable -Dr. Acheampong

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IMF Won’t Lend To Ghana If Debt Levels Are Unsustainable -Dr. Acheampong

Policy Risk Analyst, Dr Theo Acheampong, says Ghana risks not receiving funding from the International Monetary Fund should it be discovered that the country’s debt is unsustainable.

According to him, with the country being classified as a high debt distress country by the World Bank, it will be prudent if the managers of the country commence action on debt restructuring before the situation worsens.

Speaking on JoyNews’ PM Express, he said, “The IMF would only lend if they’re sure that a country’s debt is sustainable. And they have a statement on their website which I’d like to quote here again and it says that ‘for those countries that have unsustainable debt the IMF is precluded from lending unless the member takes steps to restore debt sustainability which includes debt restructuring.

“And to determine whether your debt is sustainable or not, there are four bands that they will do in the DNC analysis. You’re either classified as being low-risk, moderate risk, high risk or in debt distress. And as of last year, when that DNC was done in July, we were already classified as being at high risk of both external and overall debt distress.

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“So giving where we are now with the extra deficit and the extra spending I personally won’t be surprised if we move up into the next category already being in debt distress which then means that we will have to fundamentally commence a debt restructuring exercise before accessing the IMF financing.”

The Ranking Member on Parliament’s Finance Committee, Dr. Cassiel Ato Forson, on the other hand says the country’s debt situation has become unsustainable largely due to the government’s refusal to heed the warnings raised by the Minority.

According to him, the government had not been properly accounting for the country’s debt to GDP situation thus creating a false sense of security.

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“And this is not secret, I’ve debated it on the floor of Parliament, I’ve written articles to support the position of the Minority, we wrote even to IMF to get them to do what is right when Ghana was in a programme and yet the government decided to ignore us. So I’m not surprised at this report,” he said.

The World Bank has classified Ghana as a high debt distress country as it projects the nation’s debt to Gross Domestic Product (GDP) of 104.6% by the end of 2022.

According to its October 2022 Africa Pulse Report, debt is expected to jump significantly, from 76.6% a year earlier, amid a widened government deficit, massive weakening of the cedi, and rising debt service costs.

It is also forecasting debt to GDP of 99.7% and 101.8% of GDP in 2023 and 2024, respectively. The size of Ghana’s economy is estimated at about $72 billion, whilst it is expected to spend about 70% of revenue this year to service its debt.

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The report is coming at a time the Bank and the International Monetary Fund (IMF) are conducting a Debt Sustainability Analysis on the country. A country which is highly debt distressed is unable to fulfil its financial obligations and therefore debt restructuring is required.

The World Bank further stated that Ghana needs $1.5 billion in assistance from the IMF, which could help to shore up public finances and regain access to credit markets.

Source: www.GhanaCNN.com

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Akufo-Addo Calls On Chiefs, MMDCEs To Actively Rally Behind Government To Curb Illegal Mining

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Akufo-Addo Calls On Chiefs, MMDCEs To Actively Rally Behind Government To Curb Illegal Mining

President Akufo-Addo has reiterated his appeal to the Chiefs, Metropolitan, Municipal and Chief Executives (MMDCEs) in the country to take up lead roles in the fight against illegal mining.

According to the President, the Chiefs, who are custodians of lands have an obligation to protect the lands entrusted in their care and that joining forces with the government to fight illegal mining is a duty they owed their communities and the country.

Addressing the traditional authorities at the National House of Chiefs in Kumasi on Wednesday, October 5, 2022, President Akufo-Addo maintained that the battle against illegal mining can only be won if there is a closer and effective collaboration between the government, traditional authorities and relevant stakeholders.

Akufo-Addo calls on chiefs, MMDCEs to actively rally behind government to curb illegal mining

He said since the inception of his government, there has been a strong commitment towards eradicating the galamsey menace but the efforts are being thwarted by the lack of collaboration from some chiefs and key institutions.

He expressed the openness of his government towards mining but clarified that mining must be done within the scope of the country’s laws as well as responsible and sustainable means.

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For President Akufo-Addo, the battle to protect the country’s waterbodies requires an all hands on deck approach that must be devoid of politics and personal interest.

Akufo-Addo calls on chiefs, MMDCEs to actively rally behind government to curb illegal mining

He bemoaned the political colorization of the fight against ‘galamsey’ and admonished politicians to rise above such partisanship and selfish gains.

He contended that his government will remain resolute in its determination to ensure the sustainable use of the country’s rich mineral resources.

“We have tried many initiatives including the community mining scheme and the establishment of the new legal regime for dealing with the perpetrators of this phenomenon which has imposed severe sanctions on both Ghanaians and foreigners raging from a 15-25 years jail term of illegal mining activities,” he added.

Akufo-Addo calls on chiefs, MMDCEs to actively rally behind government to curb illegal mining

“The progress of our country depends on all of us; all citizens of Ghana; all fellow Ghanaians coming together to defeat this existential threat to our future,” he pleaded.

“No one seeks to exploit the fight against galamsey for political gains as we saw in the last election. The progress of our country depends on all of us, all citizens of Ghana, all fellow Ghanaians, pulling together to defeat this existential threat to our future,” the President noted.

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“I ask all of you to join hands with me in the fight against illegal mining in order to bring to an end the devastation of our lands and the pollution of our water bodies.”

The President of the National House of Chiefs, Ogyeahohoo Yaw Gyebi II expressed worry that ‘galamsey’ activities are a threat to the survival of Ghanaians and that any action taken towards its curbing must be embraced by all.

Akufo-Addo calls on chiefs, MMDCEs to actively rally behind government to curb illegal mining

He observed that illegal mining activities have affected the cocoa industry as well as Ghana’s revenue generation and employment target and urged that persons found to be engaging in illegal mining activities be dealt with in accordance with the law.

He commended President Akufo-Addo for his personal devotion to the fight to protect resources meant for future generations and promised that the traditional authorities will offer their utmost support to the government.

Akufo-Addo calls on chiefs, MMDCEs to actively rally behind government to curb illegal mining

The President later met with MMDCEs and Regional Ministers in illegal mining endemic areas and charged them to work together actively and closely with government to reverse the phenomenon of Galamsey.

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He added that there’s a political cost to the ‘galamsey’ fight but “a cost we should be prepared to pay in the interest of Ghana”.

Akufo-Addo calls on chiefs, MMDCEs to actively rally behind government to curb illegal mining

The President stressed that “you are my representative at the local level and it cannot be that government is fighting the menace and you are found complicit “ adding that “I am not in the position to protect anyone who is found in such an act, against who evidence has been established to be involved in the ‘galamsey’”.

Let us work together to restore our water bodies, landscape, forest reserve to enable us to break the 8”, he concluded.

Source: www.GhanaCNN.com

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Minority Demands Immediate Announcement Of New Producer Price Of Cocoa For 2022/2023 Crop Season

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The Minority in Parliament has called for the swift announcement of a new farm gate price of cocoa for the 2022/2023 season.

The regulator for the Cocoa sector, COCOBOD, has secured a syndicated loan of $1.13 billion for the next crop season but is yet to adjust the farm-gate price which currently sits at GH¢660 per 64 kg bag. Ivory Coast, however, raised its price by 9% per kilogram.

At a press conference today, Ranking Member on the Finance Committee, Cassiel Ato Forson, entreated the government to increase the producer price to Ghc1000 per bag
“Cocoa farmers are fed up and demand their cocoa prices now. The suspense cannot continue,” Mr. Forson said.

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He noted further that the uncertainties over the pricing were getting very worrying for farmers.

“After these uncertainties, the government should not announce any price below GHS per bag, in other words, GHS16,000 per metric tonne.”

Mr. Forson added that the current prices were passed on an old exchange rate.
We wish to remind them that the dollar is now trading at more than GHS10 per dollar,”

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“Even at the dollar equivalent price farmers and all stakeholders, including the Licenced Buying Companies and hauliers, should receive higher prices and margins this year.”

The government had previously indicated the new prices will be announced next week.

Ghana last increased its farm gate price in 2022; from GHS515 to GHS660.
That was a historic 28% hike that followed the $400 Living Income Differential on every tonne of cocoa.

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SOURCE theghanaianvoice



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