Day: April 13, 2024

An International Monetary Fund (IMF) staff team has reached a staff-level agreement on the second review of Ghana’s loan-support programme, allowing the Executive Board to consider and approve about US$360 million for the country.

This comes following a conclusion of meetings held between Ghanaian Authorities and the IMF staff team between April 2 and April 12, 2024 in Accra on the country’s Extended Credit Facility arrangement.

At the end of the mission, Mr Stéphane Roudet, Mission Chief for Ghana, in a statement said: ‘Upon completion of the Executive Board review, Ghana would have access to SDR 269.1 million (about US$ 360 million).’

That would bring the total IMF financial support disbursed under the ECF arrangement since May 2023 to SDR 1,171.9 million (about US$ 1,560 million), the statement noted.

‘This staff-level agreement is subject to IMF Management approval and Executive Board consideration once the necessary financing assurances have been received,’ Mr Roudet said in the statement.

However,
the Mission Chief noted that given Ghana’s strong progress under the IMF-supported programme, the next key step for the country is to reach an agreement with its official bilateral creditors.

‘We look forward to the authorities’ continued efforts to reach an agreement with all creditors in line with programme parameters,’ he said.

On Ghana’s performance under the IMF-supported programme, the Mission Chief stated that most quantitative targets had been met, with good progress made on the key structural reform milestones.

‘The authorities’ policies and reforms to restore macroeconomic stability and debt sustainability while laying the foundations for stronger and more inclusive growth are already generating positive results,’ he stated.

Providing some figures to that effect, he stated that the fiscal primary balance on a commitment basis improved by over four percentage points of Gross Domestic Product (GDP) in 2023.

Mr Roudet also indicated that the country was on track to achieving a fiscal primary surpl
us of 0.5 per cent of GDP in 2024.

‘Spending has remained within budget limits, while the authorities have significantly expanded social protection programs to help mitigate the impact of the crisis on the most vulnerable,’ he stated.

‘Ghana has met its non-oil revenue mobilisation target, while making progress in implementing ambitious structural fiscal reforms to bolster domestic revenues, strengthen public financial and debt management, and enhance transparency,’ he noted.

Mr Roudet also stated that Ghana’s external sector has improved significantly, with international reserve accumulation ahead of program objectives, financial stability has been preserved, with banks posting solid profits in 2023.

IMF staff held meetings with Finance Minister, Dr Mohammed Amin Adam, Bank of Ghana Governor, Dr Ernest Addison, and their teams, representatives from various government agencies, and other stakeholders.

Source: Ghana News Agency

Mr Kwaku Ofori Asiamah, the Minister of Transport, has touted the achievements chalked in the transport sector over the past seven years under his leadership.

He said despite the numerous challenges, the sector since 2017 had seen tremendous transformation in aviation, maritime and road transports.

Speaking at the opening session of the 2024 strategic meeting of the Ministry in Cape Coast, the Minister highlighted some of the major achievements in the aviation sector including the upgrade of the Tamale Airport to an international status.

He said it had also rehabilitated phase one of the Sunyani Airport, completed the Kotoka International Airport Terminal Three project, established an independent body responsible for aircraft incident and accident investigations and prevention, and now expanding the Kumasi Airport to international status.

In the maritime space, Mr Asiamah said it had constructed a new liquid bulk terminal at the Takoradi Port and completed the construction of a container terminal at Tema
Port.

He added that 12 fish landing sites along the coast and a fishing port for Elmina had been constructed while a port for James Town was near completion, and the Meridian Port Services Terminal retooled with 15 modern ships and other logistics.

‘We are developing the Boankra integrated logistics terminal, which is ongoing, removed tree stamps along parts of the Volta Lake, completed an assessment of the Volta Lake, acquired a total of seven high speed patrol and rescue boats and trash skimmers to remove rubbish from waterbodies and protected sea life,’ he added.

In road transportation, Mr Asiamah said the government acquired 200 intercity buses for Metro Mass Transit and 100 intercity buses for STC.

The Ministry had also passed the National Road Safety Authority Act 2019 (Act 993) and the National Road Safety Authority Regulation 2022, and digitalised and improved services of the Driver and Vehicle Licensing Authority (DVLA).

In addition, the National Transport Policy has been revised, the National E
lectric Vehicle Policy developed, and again, championed the ‘arrive alive and stay alive campaign to ensure road safety.’

The two-day strategic meeting assembled all relevant stakeholders to review the performance of the sector from 2017 to date, reflecting on the achievements, development issues and identifying areas for improvement.

This, among others, seeks to enable the various agencies and stakeholders under the sector to align their vision towards that of the President’s to improve the quality of life and spur development.

As part of the meeting, the stakeholders underwent a leadership and management training session to equip them with the skills to navigate the evolving landscape of the transport sector.

Despite the achievements, the Minister acknowledged that the sector was faced with countless challenges including a growing demand for the reduction of urban traffic crashes and fatalities.

He said there was also the pressing need to reduce Ghana’s carbon footprint and mitigate the impact of clima
te change as well as deal with the deteriorating condition of the Volta Lake.

Beyond that, Mr Asiamah alluded to some institutional framework challenges which needed urgent rectification.

‘We can only move forward if we take steps to address development issues facing the sector,’ he observed, adding that the Ghana Civil Aviation Authority, Ghana Shippers Authority and the DVLA were at various stages of reviewing their Acts to address some identified challenges and adopt emerging practices in the industry.

‘It is important that we speed up the processes and in particular, the engagement with various stakeholders to ensure that the reviews are all-encompassing and can withstand the test of time,’ he said.

The Sector Minister commended and thanked all stakeholders for peacefully collaborating with him over the years.

Dr Evans Aggrey Darko, Head of Civil Service, reflecting on the successes achieved, commended the sector for the growth despite the bottlenecks.

He noted that each stakeholder had a crucial ro
le to play in shaping the future of transportation in Ghana.

He added that it was imperative to embrace the global technological advancement in the sector, citing autonomous vehicles to smart infrastructure, among others.

‘We must foster a culture of excellence, efficiency and continuous improvement in the public sector,’ he noted.

Mr Justina Marigold Assan, the Central Regional Minister, underscored the importance of the sector to human life and economic outcomes and commended government and the Ministry for the various initiatives propelling the advancement of the sector.

‘It is my prayer that the challenges confronting the sector will find lasting and sustainable solutions through this strategic review meeting. I, therefore, pray you to show active interest in the ensuing discussions,’ she stated.

‘Let us all bring on board contributions from our various rich and diverse backgrounds so as to collectively put our shoulders to the wheel for optimum results,’ she added.

Stakeholders including transport
operators, NRSA and staff of the sector ministry praised the minister for demonstrating exemplary leadership.

Source: Ghana News Agency

Mr Kwaku Ofori Asiamah, the Minister of Transport, has touted the achievements chalked in the transport sector over the past seven years under his leadership.

He said despite the numerous challenges, the sector since 2017 had seen tremendous transformation in aviation, maritime and road transports.

Speaking at the opening session of the 2024 strategic meeting of the Ministry in Cape Coast, the Minister highlighted some of the major achievements in the aviation sector including the upgrade of the Tamale Airport to an international status.

He said it had also rehabilitated phase one of the Sunyani Airport, completed the Kotoka International Airport Terminal Three project, established an independent body responsible for aircraft incident and accident investigations and prevention, and now expanding the Kumasi Airport to international status.

In the maritime space, Mr Asiamah said it had constructed a new liquid bulk terminal at the Takoradi Port and completed the construction of a container terminal at Tema
Port.

He added that 12 fish landing sites along the coast and a fishing port for Elmina had been constructed while a port for James Town was near completion, and the Meridian Port Services Terminal retooled with 15 modern ships and other logistics.

‘We are developing the Boankra integrated logistics terminal, which is ongoing, removed tree stamps along parts of the Volta Lake, completed an assessment of the Volta Lake, acquired a total of seven high speed patrol and rescue boats and trash skimmers to remove rubbish from waterbodies and protected sea life,’ he added.

In road transportation, Mr Asiamah said the government acquired 200 intercity buses for Metro Mass Transit and 100 intercity buses for STC.

The Ministry had also passed the National Road Safety Authority Act 2019 (Act 993) and the National Road Safety Authority Regulation 2022, and digitalised and improved services of the Driver and Vehicle Licensing Authority (DVLA).

In addition, the National Transport Policy has been revised, the National E
lectric Vehicle Policy developed, and again, championed the ‘arrive alive and stay alive campaign to ensure road safety.’

The two-day strategic meeting assembled all relevant stakeholders to review the performance of the sector from 2017 to date, reflecting on the achievements, development issues and identifying areas for improvement.

This, among others, seeks to enable the various agencies and stakeholders under the sector to align their vision towards that of the President’s to improve the quality of life and spur development.

As part of the meeting, the stakeholders underwent a leadership and management training session to equip them with the skills to navigate the evolving landscape of the transport sector.

Despite the achievements, the Minister acknowledged that the sector was faced with countless challenges including a growing demand for the reduction of urban traffic crashes and fatalities.

He said there was also the pressing need to reduce Ghana’s carbon footprint and mitigate the impact of clima
te change as well as deal with the deteriorating condition of the Volta Lake.

Beyond that, Mr Asiamah alluded to some institutional framework challenges which needed urgent rectification.

‘We can only move forward if we take steps to address development issues facing the sector,’ he observed, adding that the Ghana Civil Aviation Authority, Ghana Shippers Authority and the DVLA were at various stages of reviewing their Acts to address some identified challenges and adopt emerging practices in the industry.

‘It is important that we speed up the processes and in particular, the engagement with various stakeholders to ensure that the reviews are all-encompassing and can withstand the test of time,’ he said.

The Sector Minister commended and thanked all stakeholders for peacefully collaborating with him over the years.

Dr Evans Aggrey Darko, Head of Civil Service, reflecting on the successes achieved, commended the sector for the growth despite the bottlenecks.

He noted that each stakeholder had a crucial ro
le to play in shaping the future of transportation in Ghana.

He added that it was imperative to embrace the global technological advancement in the sector, citing autonomous vehicles to smart infrastructure, among others.

‘We must foster a culture of excellence, efficiency and continuous improvement in the public sector,’ he noted.

Mr Justina Marigold Assan, the Central Regional Minister, underscored the importance of the sector to human life and economic outcomes and commended government and the Ministry for the various initiatives propelling the advancement of the sector.

‘It is my prayer that the challenges confronting the sector will find lasting and sustainable solutions through this strategic review meeting. I, therefore, pray you to show active interest in the ensuing discussions,’ she stated.

‘Let us all bring on board contributions from our various rich and diverse backgrounds so as to collectively put our shoulders to the wheel for optimum results,’ she added.

Stakeholders including transport
operators, NRSA and staff of the sector ministry praised the minister for demonstrating exemplary leadership.

Source: Ghana News Agency

Former Black Stars Captain Asamoah Gyan has called on the leadership of the National Sports Authority (NSA).

The move was to officially inform them about the invite them about the impending All Regional Games fixed for Saturday, June 8, 2024 at the Baba Yara Sports Stadium in Kumasi.

Mr. Dodzie Numekevor, the Director General of NSA in his remarks said the authority would make its facilities available for the event, adding that the authority would offer technical support to the organisers.

He urged the organisers to use the official logo of the NSA for all their promotional materials without any hindrance, adding that they had given approval for the event.

Mr. Seth Panwum Boyoyo, Board Chairman of the NSA said the project was in line with the core mandate of the authority and that it was appropriate for the authority to support the initiative.

Officials present at the meeting were the Deputy Director General of the NSA, Mr. Majeed Bawa, former Black Stars player Bafuor Gyan and other members of the Regio
nal Games Team.

Source: Ghana News Agency

Former Black Stars Captain Asamoah Gyan has called on the leadership of the National Sports Authority (NSA).

The move was to officially inform them about the invite them about the impending All Regional Games fixed for Saturday, June 8, 2024 at the Baba Yara Sports Stadium in Kumasi.

Mr. Dodzie Numekevor, the Director General of NSA in his remarks said the authority would make its facilities available for the event, adding that the authority would offer technical support to the organisers.

He urged the organisers to use the official logo of the NSA for all their promotional materials without any hindrance, adding that they had given approval for the event.

Mr. Seth Panwum Boyoyo, Board Chairman of the NSA said the project was in line with the core mandate of the authority and that it was appropriate for the authority to support the initiative.

Officials present at the meeting were the Deputy Director General of the NSA, Mr. Majeed Bawa, former Black Stars player Bafuor Gyan and other members of the Regio
nal Games Team.

Source: Ghana News Agency

Mr Daniel Titus Glover, the Greater Accra Regional Minister designate, has called on the youth of Tema Newtown to allow investigations to be carried out by the Police on the shooting of some youth in the area by the Navy.

The incident occurred on Friday night when a clash ensued between the Navy and the youth groups who were on a final procession to celebrate the Kplejoo festival.

Mr Glover made the call after conferring with the Tema Traditional Council on Saturday on the issue that had created tension in the town.

He said, ‘We came here basically to speak to the Traditional Council, console them, and also address the youth. You can see the tension is so high in town because of the killings and the injuries.’

He added that even though the incident was so painful, they want the due process to continue; therefore, the youth should support him, the Metropolitan Chief Executive, and the Tema Regional Police Commander to ensure they are able to address the problem fast.

‘Police are doing their investigations
; the Metro Security Council will sit on the issue from Monday and will be referred to us in the region, then quickly, we will look at them,’ he stated.

He gave the assurance that there would be no recurrence of such an incident in Tema Newtown, stating, however, that, ‘the Navy should know how to comport themselves; I am appealing to them; I was part of the festival; last Saturday I danced with my people; the Police are able to comport themselves, so when they are meeting the crowd, they should at least slow down.’

The Regional Minister designate noted that I was at the Hospital with the Police commander on Friday night after the incident occurred, saying, ‘I saw the two dead and the three seriously injured, one with a pellet inside the thigh and the other two seriously injured. From there, I went to the naval base to meet the flag officer commanding to have a brief discussion.’

He pleaded with the media not to inflame passions with the incident but to help calm the youth.

Source: Ghana News Agency