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We’ll soon return to international market to borrow – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has revealed plans to return to the International market to borrow to fund infrastructural projects following the successful completion of Ghana’s $3 billion deal with the International Monetary Fund.
Speaking at the Qatar-Africa Economic Forum in Doha, Mr. AKufo-Addo said even though his government is in no rush to return to the international market, it makes sense to take advantage of the market now and make some savings.
“We have positioned ourselves to be able to go back into the International market which had been a source of funding for us during the first three or four years of our government,” the president said, adding, “There is no rush but obviously why not take advantage of global savings, it makes a lot of sense to me. We will try as much as possible to maintain the discipline which is required and the most important requisite for a successful programme.”
The Finance Minister, Ken Ofori-Atta had earlier emphasized Ghana’s commitment to fiscal responsibility, stating that Ghana will not hastily seek to return to the international capital market for borrowing.
Speaking at a press conference on Thursday (May 18), Ofori-Atta highlighted the importance of revenue measures and prudent expenditure management in ensuring financial stability and sustainability.
He further acknowledged the revenue-enhancing measures outlined in the budget, particularly improvements at the Ghana Revenue Authority (GRA), which are expected to provide the necessary resources for the country’s progress.
“There is no rush in going back to the international capital market. Our expectation is that, by managing our expenditure and increasing our revenue, we will have the resources to address our needs.”
President Akufo-Addo also disclosed that the government will begin rigorous expenditure cuts to meet the conditionalities of the International Monetary Fund (IMF).
He said the government is eager to turn the fortunes of the country around and will do everything possible to ensure that the ailing economy is revived.
Mr Akufo-Addo expressed confidence that the IMF bailout will help revive the Ghanaian economy.
“Rationalisation of our expenditure, rationalisation of government expenditure is something that we have given the assurance. Domestic revenue mobilisation is absolutely critical for us, and already we are seeing signs.
“We have a fiscal responsibility law in Ghana that has pegged our fiscal deficit at 5 percent but already we are way above that and the sooner we can bring that to more acceptable levels the better for us.”
Credit: Citinewsroom
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Small-scale miners schooled on health hazards of mining with mercury
Mr Lovelace Sarpong (right) addressing the participants
Some Artisanal and Small-Scale Miners in the Ashanti and Central regions have been sensitised on the potential health dangers humans are exposed to with the use of mercury in gold processing.
The sensitisation which was organised by PlanetGOLD Ghana project was to raise awareness about the negative impacts on the use of mercury in mining activities.
According to the PlanetGOLD Ghana Project Coordinator, Mr Lovelace Sarpong, the use of mercury in artisanal small-scale mining pose health challenges that affects the nervous, digestive and immune systems, lungs and kidneys; and may be fatal.
Some Metropolitan, Municipal, and District Assemblies (MMDAs) that benefited from the exercise were Amansie Central, Asante Akim North, Amansie South, Amansie West, Bekwai, and Adansi North in the Ashanti Region, and Upper Denkyira East (Dunkwa-on-Offin) and Upper Denkyira West (Diaso) in the Central Region.
Additionally, he said inorganic salts of mercury were corrosive to the skin, eyes and gastrointestinal tract, and may induce kidney toxicity if ingested.
He stated that the PlanetGOLD Project has conducted several initiatives to raise awareness on reducing mercury exposure among artisanal and small-scale gold mining actors in the country.
It was to promote mercury-free mining practices in line with Ghana’s obligations under the Minamata Convention on Mercury, support the formalisation of the ASGM sector while advocating the adoption of the CRAFT Code and responsible supply chains, and raise awareness on the availability of mercury-free alternatives.
The Environmental Protection Agency (EPA) Area Head for Konongo, Mr Dawood Abbas, underscored the importance of government’s environmental regulations and EPA’s role in ensuring compliance within the ASGM sector.
He encouraged miners to prioritise environmental stewardship to gain community trust and secure a Social License to Operate (SLO) and reaffirmed the Agency’s commitment to enforce its commitments under the Minamata Convention.
BY Cecilia Lagba Yada
Entertainment
Stonebwoy releases sixth studio album ‘Up & Running’
Ghanaian multiple award-winning musician, Stonebwoy is out with his sixth studio album dubbed ‘Up & Running.’
As part of the release Stonebwoy performed various songs on the album to patrons at a special listening party last night.
The listening party held at the Alora Beach in Accra brought together Industry players, musicians, actors, corporate Ghana, diplomats and fans of Stonebwoy among others.
The album is made up of songs like, Memories, Pray For Me, Jejereje, Overload remix, Shine, Psalm 23, Betta Tin, Your Body, Geography, Shine, Lovely Weather, Jiggle and White, Ekelebe and Fvck Up Summer.
‘Up & Running’ features the top musicians such as Duncan Mighty, Ir Sais, Spice, Amaria BB, Jahmiel, 10TIK, Larruso, Chi Ching Ching, Kaylan Arnold, and Blvk H3ro, Wyclef Jean and ODUMODUBLVCK.
The album, which includes diverse songs for different target markets, shows Stonebwoy’s calculated effort to reach out to wider and new audiences around the world.
Stonebwoy is expected to hit the road in a global tour with his new album, ‘Up & Running.’
The colourful event was attended by industry personalities like Fred Nuamah, Andy Dosty, Keche, Bullgod, Nadia Buari, Nana McBrown,Kwaw Kese,Robert Klah,D-Black, Larusso and many others.
By Edem Mensah-Tsotorme
Enjoy the album below
UP & RUNNIN6 – ALBUM OUT NOW!