You are welcome to this Press briefing. The Monetary Policy Committee (MPC) held its 58th meeting on November 25 to 27, 2013 to review the latest economic developments and the monetary policy stance. I present to you the outcome of the deliberations.

The latest projections by the IMF indicate a pickup in the pace of global activity from 2.9 percent in 2013 to 3.6 percent in 2014, driven largely by the advanced economies with the impulse to global growth expected to come mainly from the United States against weaker prospects in emerging market economies.

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As the 20th anniversary of the birth of democracy in South Africa, on April 27 2014, approaches, it seems a perfect opportunity to take a step back and get a long-range perspective on the important question: “So, what has Nelson Mandela’s South Africa done with its freedom?”

Goldman Sachs has produced this report in the hope of contributing to- wards a more balanced narrative on South Africa; one, which in the wake of 2012’s tragic events at Marikana, had become somewhat hysterical, short-term and often negative

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Mick MooreTaxation is zipping up the development agenda, but the discussion is often focussed on international aspects such as tax havens or the Robin Hood Tax. Both very important, but arguably, even more important is what happens domestically – are developing country tax systems regressive or progressive? Are they raising enough cash to fund state services? Are they efficient and free of corruption? This absolutely magisterial overview of the state of tax systems in Africa comes from Mick Moore (right), who runs the International Centre for Tax and Development (ICTD). It was first published by the Africa Research Institute.

Anglophone countries have led the way in reforming tax administration in Africa, considerably more so than their francophone peers. The reasons for this are numerous. Networks of international tax specialists are based mainly in English-speaking countries. Many of the modern systems that promote best practice within tax authorities were developed in anglophone countries, especially Australia. International donors, and particularly the UK’s Department for International Development (DFID), have directly and indirectly promoted a lot of reform of national tax authorities. In fact, this has been one of the success stories of British aid.

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Accountability and transparency initiatives hav e taken democratisation, governance, aid and development circles by storm since the turn of th e century. Many actors involved with them – as donors, funders, programme managers, implementers and researchers – are now keen to know more about what these initiatives are achieving.

This paper arises from a review of the impact and effectiveness of transparency and accountability initiatives which gathered and analysed existing evidence, discussed how it could be improved, and evaluated how impact and effectiveness could be enhanced. This paper takes the discussion further, by delving into what lies behind the methodological and evaluative debates currently surrounding governance and accountability work. It illustrates how choices about methods are made in the cont ext of impact assessment designs driven by different objectives and different ideological and epistemological underpinnings. We argue that these differences are articulated as methodological debates, obscuring vital issues underlying accountability work, which are about power and politics, not methodological technicalities.

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Other Stories

NDC Addresses to Supreme Court of Ghana
Our case is a fortiori the above cases as there is, here, no evidence of transgressions of the law by any voter, but simply some administrative errors in entries in the filling of forms.No credible evidence of violations of substantive rules regarding the conduct of voting has been provided to Your Lordships.We respectfully ask this Honourable Court to dismiss the Petition and uphold the declaration made by the Chairman of the Electoral Commission on 9
Press release on Thursday public forum on Govt/STX Korea Housing Deal
Danquah Institute(DI), The Imani Centre and The World Bank are organizing a public forum to probe Government’s US$1.5 Billion Supplier’s Credit Facility Agreement for Housing with STX Korea, a construction firm from the Republic of Korea. Tuesday June 01, Accra– Danquah Institute (DI), a leader in policy advancement, advocacy and research in collaboration with the World Bank and Imani Centre will on Thursday 3rd June hold a public forum at the British Council Hall on the feasibility of the agreement between the Government of Ghsna and STX Korea for the construction of 200,000 housing units for $10 billion.
The EC Lied With the Duplicate Polling Station Sheets- NPP-USA
NPP-USA reaffirms its strong conviction in the ongoing petition challenging the legitimacy of John Mahama’s presidency. We have absolute confidence in the astute NPP legal team, so we have restrained ourselves from commenting on legal issues pertaining to the Supreme Court petition. However, when it comes to matters of common sense and logic, we will not hesitate to comment. It is interesting to note the EC has admitted printing of the duplicate polling station sheets and has advanced the argument that they were duplicates to ensure future candidates are covered. NPP-USA posits three strong arguments to invalidate this statement:
Democracy looks to Ghana's supreme court
The case before the court will shape political competition across the continent and could lead to the first invalidation of the election of a sitting African president. Counsel for 1st Respondent: I am suggesting to you that this is just a clear error on the part of the presiding officer? 2nd Petitioner: This is a clear illegality on the part of the 2nd respondent. Justice Atuguba: You are saying that to get the total in the ballot box, you had to add what?
Prez Mahama, please tell your surrogates to leave me alone for I’m but a simple pastor – Mensa Otabil
The General Overseer of the International Central Gospel Church, Pastor Mensa Otabil has responded in clearest terms yet to what he calls evil attempts to expose him to public ridicule “and the running harassment against my integrity.”He said the doctoring and manipulation of his sermons over the years to give them political twists was defamatory, unethical, criminal, malicious and evil.
Rawlings has a point, the growth in corruption is a major election issue, so is Ghana’s GH¢28.3BN
Former President Jerry john Rawlings has once again injected some excitement into the December elections with the issues he raised in his recent meeting with members of the Volta Regional House of Chiefs. In our view, he was sincere about the issues he raised and the angles he took. The ruling National Democratic Congress was, until July 24, going into a general election with a leader who was, understandably, very unwell. Now, in President John Dramani Mahama, they have a leader who has, indeed, added “a spark to the governing party…
The Conservative Alliance Network (CAN) is calling on Ghana’s new President, John Dramani Mahama to make his position clear on the outcome of the petition filed by three leaders of the New Patriotic Party at the Supreme Court. It will be recalled that the NPP is at the Supreme Court contesting the Electoral Commission’s declaration of President John Mahama as winner of the 2012 presidential election.
This short overview report presents the main findings and recommendations of a larger study, prepared in early 2013, that is to be released shortly. We believe that it will help bring about policies and decisions that will ensure that Ghana’s emergence as a middle-income economy is not held back by the energy sector, as at present. We recommend that Government make a concerted effort to ‘think big’ and provide more direct and proactive leadership to the energy sector, given its centrality to boosting economic growth. The report was prepared during a period of electricity shortages and rolling power blackouts. The current power shortfall is particularly serious for two reasons: the frequency of these episodes is increasing – the previous one was just 5 years ago – and the economic damage inflicted is greater, because Ghana’s economy has evolved to become ever more dependent on reliable electricity supply. This review identifies three themes that are common to Ghana’s power and petroleum sectors.
What Does the Reshuffle Mean for Developing Countries?
As the dust starts to settle on David Cameron's reshuffle Justine Greening will be starting to make Andrew Mitchell's old office at the Department for International Development (DFID) her own. She may be disappointed at losing her Transport brief, but those of us in the international development community are hopeful that she will soon see all the opportunities available in her new post. In particular, she has the chance to build on the UK's leadership on aid and to go down in the history books as a real leader on one of the big challenges of our time - that of fixing a situation where one in seven people are going to bed hungry despite there being enough food in the world for everyone.
Two regime shifts divide the economic history of Korea during the past six centuries into three distinct periods: 1) the period of Malthusian stagnation up to 1910, when Japan annexed Korea; 2) the colonial period from 1910-45, when the country embarked upon modern economic growth; and 3) the post colonial decades, when living standards improved rapidly in South Korea, while North Korea returned to the world of disease and starvation. The dramatic history of living standards in Korea presents one of the most convincing pieces of evidence to show that institutions -- particularly the government -- matter for economic growth.