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2012 Budget Speech
Madam Speaker, I beg to move that this honourable House approves the Financial Policy of the Government of Ghana for the year ending 31st December, 2012. Madam Speaker, in doing so, I humbly stand before you to present the fourth Budget Statement and Economic Policy on behalf of the President, His Excellency, Prof. John Evans Atta Mills in accordance with article 179 of the 1992 Constitution. Click here for full Budget Speech
Message by Nana Addo Dankwa Akufo-Addo, 2012 Presidential Candidate of the New Patriotic Party, on the occasion of the symposium commemorating Dr. Danquah’s death
On February 4, this time in 1965, 47 years ago, a great man, a great African died. He died as a political prisoner, in a 9 feet by 6 feet condemned cell. But, this was after he had successfully, along with other nationalists of his time, led the campaign to liberate Ghana from colonial rule. His name was Joseph Boakye Danquah, the doyen of the Gold Coast, the man whose academic enquiries convinced the rest of our founding fathers to adopt the ancient name Ghana for our independent nation in 1957. The man whose anniversary we are here to observe.
INTRODUCTION The process is underway to pass a law that will determine how we use our Oil resources. We at IMANI,AfricanLiberty.org and African Leadership Initiative) have been involved with the analysis of best options for a while. Our review of the Proposals towards the law reveals that the provisions in the bill are likely to lead to the following: Resource Curse phenomenon, as with Nigeria Dutch Disease, where other industries will be neglected and may shrink Political tension with dire consequences as people try to get access to loosely guarded oil revenue Agitation in the Western Region due to neglect and degradation Serious dislocations in the economy
Kenya Election Results: Uneasy Calm After Court Ruling On Vote
Kenyan police deployed forces Sunday in the capital and the lakeside city of Kisumu to contain the continuing threat of violence after five people were killed in riots Saturday, officials said, but the country remained mostly peaceful after a court upheld Uhuru Kenyatta's election as president. Rowdy youths in Nairobi's slums were still trying to protest the Supreme Court's ruling against Prime Minister Raila Odinga's challenge to the validity of Kenyatta's win, Nairobi police officials said Sunday.
Study into Election Statistics provided by Counsel Philip Addison during his Oral Address
On the 7th of August 2013, counsel for the petitioners Mr. Philip Addison brought forth some statistics about the 2012 General Elections. The quote, as published on the website of the Daily Guide newspaper is as follows: “The 1st Petitioner obtained a total of 5,248,898 votes as against a total of 5,248,882 by all NPP Parliamentary candidates, showing a difference of 16. However the first Respondent (Mahama) obtained a total of 5,574,761 as against 5,127,641 by all NDC parliamentarians, showing a whopping difference of 447,120. Download full document here
Cedi flashing Signs of Currency Crisis
If the currency crises in Mexico and Russia ring a bell, then watch the new Ghana cedi. The cedi dropped to a record low of GHc1.77 per dollar and the downfall is accelerating with no support in sight. The cedi versus dollar exchange rate shows the cedi has been in a perpetual fall against the US dollar. President John Kufuor’s administration converted the cedi to a new Ghana cedi and delineated four zeros from the old cedi. The change meant ten thousand of the old cedi became one new Ghana cedi.
On Friday, February 11, during a current affairs programme on Peace FM, a leading member of the ruling National Democratic Congress repeated the posthumous smear campaign that Joseph Boakye Danquah, the ‘doyen of Ghana’ and co-founder of Ghana’s first political party, the United Gold Coast Convention (UGCC), was a CIA spy. To support this false allegation, the NDC man stated categorically that declassified CIA files of Ghana’s First Republic name Dr Danquah, then the leader of the United Party (UP), the main opposition party to Kwame Nkrumah’s Convention People’s Party (CPP), as a CIA spy.
The Ghana Real Estate Developers Association, GREDA has joined calls for parliament to reject the government’s agreement with a Korean company, STX for the construction of 200,000 housing units at the cost of $10 billion because it does not represent value for money and not in the nation's interest. GREDA says although the plan to reduce the housing deficit through the project is commendable, local contractors can execute the project at less than half the cost quoted by the Korean firm if given the same incentives and exemptions government is keen on granting STX.
Jubilee Field's Project Costs Inflated?
IMANI recently issued a statement about what we believe are major fiscal risks that need to be managed by government. One of the two major risks we cited is the declining level of production in the Jubilee field. In simple words, the amount of oil being produced in Ghana’s only producing oil field is *falling*, and therefore generating less cash than expected for the government’s budget. Production has fallen from a peak of nearly 90,000 barrels per day in 2011 to nearly 60,000 barrels today.
Zuma warns on Africa’s ties to China
Jacob Zuma, the South African president, has warned that the unbalanced nature of Africa’s burgeoning trade ties with China is “unsustainable” in the long term. The South African leader was speaking to the China-Africa Forum in Beijing just after China’s president pledged $20bn in loans to Africa, doubling the amount Beijing agreed to give Africa three years ago at the same forum. “Africa’s commitment to China’s development has been demonstrated by supply of raw materials, other products and technology transfer,” Mr Zuma said. “This trade pattern is unsustainable in the long term.