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Exclusively Revealed: No Money for Teachers, Doctors or Nurses

Written by The New Statesman

18 March 2011

The promise to teachers, and soon to nurses, doctors and other civil servants of seeing a substantial increment in their take-home pay as promised by the Mills-Mahama led NDC administration seems to be little more than a pipedream. The Independence Day promise that ‘this Government will not shortchange teachers’ could be described as just another in the litany of broken promises.

Documents and analysis made available to the New Statesman reveal that there is no extra money for the implementation of the Single Spine Salary Structure. In fact, the money made available to extend the SSSS to both education and health workers this year is nearly GH¢2 billion short. Thus to pretend to implement it and offer promises of allowances to keep aggrieved workers calm will only amount to shortchanging them.

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Japan and future of U.S. nuclear power

Written by Joseph Romm and Richard Caperton, Special to CNN

15 March 2011

CNN) -- The recent history of the U.S. nuclear industry suggests that nuclear power can be a safe source of low-carbon electricity. But disasters can happen very quickly, with potentially cataclysmic results.

The loss of coolant, explosions and apparent partial meltdown of nuclear plants in Japan following the earthquake and tsunami remind us that nuclear power is inherently risky. The U.S. government and the nuclear industry must take new actions to ensure that nuclear power is safe for the American public. New nuclear reactors are phenomenally expensive, costing up to $10 billion dollars apiece. Exelon CEO John Rowe said recently that the combination of low natural gas prices and failure of Congress to put a price on carbon dioxide pollution pushes back any significant nuclear renaissance by a "decade, maybe two."

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Ghana's February Inflation Rate Rose For 2nd Month on Gasoline Price Jump

Written by Bloomberg.com

09 March 2011

Ghana’s inflation rate rose in February for the second consecutive month as a 30 percent jump in gasoline costs at the beginning of the year pushed up transportation fees.

Inflation accelerated to 9.2 percent from 9.1 percent in January, Grace Bediako, head of the Ghana Statistical Service, told reporters today in the capital, Accra. “With most of the upward pressure on inflation arising from the 30 percent fuel-price increase in the new year, February inflation should still be up,” Razia Khan, head of Africa research at Standard Chartered Bank Plc in London, said in an e-mailed note yesterday.

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Ghana's Oil Bill May Improve Credit Rating and Spur New Lending, IMF Says

Written by Bloomberg.com

09 March 2011

A policy approved by lawmakers in Ghana that governs how revenue from the nascent oil sector is spent may provide a credit-rating boost and increase lending to the West African nation, according to the International Monetary Fund.

The law, passed on March 2, allows oil revenue to be used as collateral for loans in a “credit enhancement” program, said Wayne Mitchell, resident representative for the fund, based in Accra, the capital. The risk of default is reduced, which will lower interest rates, he said.

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The Danquah Letters

Resources

Budget Statement 2011
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Repayment Schedule for STX Loan
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The Revised STX Agreement (Relevant Pages)
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GoG, HFC, STX Joint Venture Agreement
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Ghana's GDP Revised
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BoG - Annual Percentage Rages (May 2010)
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STX - Off-Taker Agreement
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STX - Memorandum of Understanding
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STX - Executive Approval
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GoG STX Housing
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Overview of GoG STX Housing Agreement
by Gabby Asare Otchere-Darko view

Right to Information Bill
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Right ot Information Bill - Momorandum
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Regina Vs Mabey & Johnson
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Databank - Ghana's Economic Update (March 2010)
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Asian Perspectives on Governance
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