Home Blog Page 604

Ghana was forced to the IMF by a lack of support for E-Levy and other government measures-Gabby Otchere

Gabby Otchere-Darko, a prominent New Patriotic Party (NPP) member, laments the fact that the government was compelled to seek financial assistance from the IMF (IMF).

He claimed that no government in this scenario could have avoided asking the Fund for assistance, particularly when its efforts to raise money are met with vehement hostility from both Parliament and the general public.

According to his judgment, this includes the Minority’s fierce resistance to the contentious E-Levy.
What transpires when it takes you six months to pass a taxation policy?Because this tax would have significantly impacted a large number of people, it is simple for the opposition to rail against it and then fuel public opposition. However, this is the only option.

“I believe that those are the things we need to concentrate on when you have an opposition party that thinks that nothing is more important than political capitalization of situations and can go out to the public and say that “yes, praise us because we stopped the government from getting its way in raising revenue to solve the situation and the problems facing the average Ghanaian.”

In an interview with Newfile, Mr. Otchere-Darko claimed that, given the delay in passing the e-levy law and other initiatives, the Akufo-Addo government had no other choice than to turn to the IMF.

“Government saw a problem and approached Parliament. We don’t have a Parliament where you could say that the majority would rule and the minority would have no say; our Parliament does not operate in this manner.

“If you remember, the Minority Leader was actually bragging [and] taking credit for frustrating government’s attempt to raise money, delaying that by six months. I am not too sure how any government in Ghana’s situation would have rescued that because you have a major way of raising revenue which has been frustrated for six months,” he lamented on Saturday, July 2.

He is not overly pessimistic about the government approaching the IMF, but he thinks more domestic policies could have been implemented to improve the economy’s fortunes.

The private attorney continued by blaming Parliament for the current state of the nation.

There were challenges; yes, government came with its policies to see how to address those challenges and those policies were frustrated by the very Parliament that we have.

“Yes, we are in a difficulty but if you are government and don’t intend to go to the IMF but you are put in a situation where your avenues for raising revenue are being closed – whether through parliamentary action or by public rejection – then you have to tackle it,” Gabby Otchere-Darko stressed.

“Posterity has a great way of bringing down dishonest rulers,”-Sammy Gyamfi

Sammy Gyamfi, the National Communication Officer for the National Democratic Congress (NDC), called the government’s choice to work with the IMF a “shame.”

Mr. Gyamfi stated in a tweet on Friday that “posterity has a beautiful way of disgracing dishonest politicians.

The terms they used to describe @NAkufoAddo and @MBawumia have trapped them. Such a shame

In a previous interview on Friday’s AM Show with Benjamin Akakpo, Mr. Kwakye Ofosu accused the administration of egregiously mismanaging the economy and resulting in a difficult budgetary scenario for the nation.

In his submission, he lamented the rising levels of corruption and the government’s incapacity to rein in appointees who misappropriate public monies.

He discussed the contentious National Cathedral problem while also expressing his feelings over the Project’s lack of transparency.

Therefore, Mr. Kwakye Ofosu joined his voice to prior requests for the government to halt the project made by other prominent NDC members.

Despite everything, free SHS has helped the majority of the poor-Nana Aba

The General manager of EIB network has hailed the current government for bringing a strong relief to the poor with the introduction of free SHS.

According to her though she is against most of the decisions by the Nana-Bawumia Government ,She appreciate the introduction of Free SHS which has helped most marginalized people in the country and she wish that IMF shouldn’t touch it

Below is the tweet

Going to the IMF is equivalent to transferring power to the NDC without a vote; need I say more?-Ken Agyapong

Kennedy Agyapong, a congressman from Assin Central, expressed unhappiness with the New Patriotic Party (NPP) administration’s choice to approach the International Monetary Fund (IMF) for assistance.

It will be challenging for the party to break its eight-year cycle, he claimed.

Because the NPP condemned the NDC government when they visited the Breton Woods institution, in his opinion, this amounts to giving over power to the NDC without a vote.

Mr. Agyapong, who previously stated that any party seeking assistance from the IMF will fail, after the NDC did so, said he is unsure of what to say now that his own party has made the same choice.

“It is just like handing over power to NDC without a contest, straight away because of the noise we made, and I chew my own words back when I said the NDC went to IMF because of mismanagement of the economy. So if NPP is going to IMF, what am I going to say? So breaking the eight is going to be tough.

“My message to you is simple, you cannot read my lips and I am not scared of anybody in the party, I will tell you the gospel truth, those who take you to IMF cannot break the eight,” he said at an on-going NPP National Constituency Officers Welfare workshop at Koforidua in the Eastern Region Friday.

Don’t connect your bank account to your Ghana card through a social media link -BOG warns

Dr. Joseph France, the Bank of Ghana’s Head of Financial Stability, has cautioned the public against using social media linkages to link their Ghana cards to their bank accounts.

He claims that no bank has advertised the ability for customers to remotely link their Ghana cards and bank accounts.

He said that this might be scammers phishing for your account information.
All Ghana cards must be linked to bank accounts in the banking hall, where the client’s biometric information will also be gathered for authentication, according to the man who made the statement while speaking on JoyNews’ PM Express Business Edition.

“We also saw on social media that there are people out there who are saying that persons must link their Ghana card to their account through some links and so on so forth. I think we have to say here and now that no bank has put it out there that you should link your bank account to your bank account remotely.

“You necessarily will have to go to the bank to do either your facial or biometric to link your account. You have to be very careful because fraudsters can cash in on that. Apart from getting your Ghana card, the bank will have to verify whether your Ghana card is actually genuine and that is why your biometrics and then your facial is very important and that is why your presence is needed.

“And so we shouldn’t give room so that we can have fraudsters also coming in cashing and taking advantage of the system. Because you’ll never be able to know who has put that link out there,” he said, June 30.

John Awuah, the chief executive officer of the Ghana Association of Bankers, responded by saying that anyone who receives such a link must first confirm with their banks that the connection is, in fact, coming from the bank.

He also advised avoiding links that ask you to enter sensitive information like passwords and PINs because they are bogus.

The other point that needs to be made is that no bank will ever request your password, pin number, or any other type of credential that enables you to securely access into the system when performing remote verification or updating. No bank will inquire about you, he replied.

Beginning July 1, however, anyone who has not connected their Ghana Cards to their bank accounts will not be able to withdraw money from their accounts until they have done so.

However, they would be permitted to keep adding money to their accounts until the connectivity is complete.

On the other hand, Ghanaians who live abroad and in diplomatic missions would be able to access their accounts using their passports.

Akuffo Addo makes IMF U-turn

Nana Addo Dankwa Akufo-Addo, president of the Republic of Ghana, has given the finance minister instructions to begin official negotiations with the IMF.

This information may be found in a statement made on Friday, July 1, 2022 by Minister of Information Kojo Oppong Nkrumah.

The president reportedly gave the finance minister instructions to ask the IMF to endorse a government of Ghana-developed economic program, according to the statement.

The statement read, “The International Monetary Fund (IMF) has been invited to support an economic program put together by the Government of Ghana. President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo, has authorized Finance Minister, Ken Ofori-Atta to begin formal engagements with the IMF.”

The IMF assistance will, among other things, “help Ghana’s balance of payment as part of a larger effort to expedite Ghana’s build back in the face of problems imposed by the COVID-19 pandemic, and more recently, the Russia-Ukraine situation,” according to the ministry of communications.

This new development is a departure from the government’s former view on the likelihood of an IMF bailout.

But in a number of cases, the administration insisted against turning to the IMF, instead praising a number of domestic programs as a solution to the problem.

A rescue from the IMF, according to Ghana’s Finance Minister Ken Ofori-Atta, would be terrible for the country in January 2022.

This new development comes as a twist to an earlier position by the government on the possibility of an IMF bailout.

In the face of growing economic hardships, several critics including the opposition National Democratic Congress and Civil Society Organisations (CSOs) had implored the government to seek an IMF bailout.

But in several instances, the government insisted against going to the IMF while touting several homegrown policies as remedy to the current situation.

The government formally contacts the IMF regarding a potential bailout programme-Report

According to reports, the Ghanaian government has contacted the IMF to inquire about the prospect of participating in a bailout program.

George Wiafe, a business reporter for Accra-based Joy News, claims that the government originally contacted the IMF to get financial assistance while the economy recovered from the COVID-19 pandemic’s shocks.

The Bretton Woods Institution, however, insisted that the government could only get assistance if it agreed to a $70 billion scheme.

“What we understand [from our sources] is that this formal engagement looked at what could be in for us [Ghana] if we should go for a fund programme. Let us put it on record that the government has always been going for several fixes even during the Covid-19 times, they were trying to get some support from the Fund.

“What we are picking up is that this [latest] engagement is linked to having a programme for Ghana. That is why we are following this deeply. It was looking at whether Ghana could have gotten some additional support from the fund in terms of monetary.

“The Fund is also saying the fund that they have available…more than $70 billion, you have to sign up to a programme (so that) you can get that support. That is why we are seeing this engagement going on,” George Wiafe said on the ‘Market Place’ programme on Joy News.

Recall that on Monday, June 27, a prominent figure in the ruling New Patriotic Party, Gabby Asare Otchere-Darko, hinted that the government might be able to choose an IMF program option.

The attorney bemoaned the E-failure Levy’s to meet the government’s expectations for generating vital money since its passage in May of this year in a series of posts on his social media account.

He claims that barely 10% of the projected revenue objective has been met by the tax proposal.

Gabby Otchere-Darko claimed that he is not inherently opposed to an IMF program but that

How to easily Link your Ghana Card to your bank online

The Ghana Card is now the only Valid Indentification card to be used for all bank transactions per the instruction from the Bank of Ghana to all Banks.

Customers of these bank are therefore giving the mandate to do so with just a few clicks.Below are List of banks and how easily an individual can link his Ghana Card to his bank account

1.Ghana Commercial Bank-GCB Ltd

http://epay.gcbltd.com:200/

2.Access Bank Ghana

https://apps.ghana.accessbankplc.com/accountopening/ghanacard

3.Eco Bank

https://myghanacardupdate.ecobank.com/portal/

4.zennit Bank

https://apps2.zenithbank.com.gh/ghanacard/#/login

5.Fedility Bank

https://dpfbgl101.myfidelitybank.net:4017/cus-update

6.GT BANK

https://ghanacard.gtbghana.com/

7.Stanbic Bank

https://e.stanbic.com.gh:8002/self.serviceRequest/welcome

8.UMB BANK

https://ezupdate.myumbbank.com/

9.CAL BANK

https://customerupdate.caleservice.net/

10.Databank

Ghana card link

https://onlineservice.databankgroup.com/clientrecordsupdate

11.CBG

https://cu.apps.cbg.com.gh/home/ghanacardupdate

12.NIB BANK

https://www.nib-ghana.com/

13.ADB BANK

https://www.agricbank.com/customer-care/download-forms/

14.First Atlantic Bank

https://ghanacard.firstatlanticbank.com.gh:4443/

More links to be added -Topede(thoughtpillow)

Under Mahama, I slept better while criticizing him more – Prof Aning

Former President John Dramani Mahama was characterized as tolerant by the director of the Kofi Annan International Peacekeeping Training Centre’s (KAIPTC) Faculty of Academic Affairs & Research.
Prof. Kwesi Aning asserts that John Dramani Mahama should be honored since, while in office, he was able to criticize the previous president and still have a good night’s sleep.

According to John Dramani Mahama, the country’s overall security is enhanced by his tolerance since it allows for the diversity of views that are necessary.

He mentioned this while delivering the John Evans Atta Mills Memorial Lecture for the Central and Western Regions.

“…I want to celebrate and salute former President John Mahama. I criticized him, and he knows it. I never spared him. But I also slept soundly.

“I criticized the former president so much that every time he came to the Kofi Annan Peacekeeping Training Centre, he said, ‘Let me see if Kwesi is there so that I can recognize him, so he doesn’t criticize me’. So, thank you very much. “

Professor Aning emphasized the importance of open and inclusive governance, saying that it is crucial for the general public to interact with, query, and hold elected officials accountable.
The J.E.A. Mills Memorial Heritage board was warned by Prof. Aning to put all available information on Professor Mills in writing so that it might be shared and used to create new knowledge.

“It is essential and crucial that these writings serve as the foundation for knowledge creation and dissemination, as doing so will be the best way to protect his legacy from encroachment.

“Secondly, the fight to appropriate Professor Mills’ legacy has already started, and their persistent deliberate efforts as misrepresenting and misinterpreting his words,” myjoyoneline.com quoted Prof. Aning.

“Nothing fishy about the monetary affairs ”Prof Opoku Onyinah breaks silence

Apostle Prof Opoku Onyinah, the chairman of the National Cathedral of Ghana’s (NCG) board of trustees, has stated that the charges of corruption regarding the Cathedral project are untrue.

The Cathedral project is proceeding normally, despite what has been stated in the media, according to Prof. Opoku Onyinah, according to citinewsroom.com.

Although there is “nothing fishy about the monetary affairs,” he claimed that the claims against the project are “extremely serious.”

“We cannot betray the faith the nation has placed in us through the president,” he continued.

By adding that “the church must mobilize itself to acquire finances to build the project,” he further implied that the Church was in charge of building the Cathedral.

Prof. Opoku Onyinah also urged that procedural matters be dealt with at their appropriate levels.

Rev. Kusi Boateng, the secretary of the board of trustees, added that the government was in charge of paying for the Cathedral’s architectural construction.

He continued by saying that the public will soon receive all the facts about the project from the Secretary for the Cathedral.

“… it was obvious that Adjaye and Associates would be taken care of by the government.

There is no secrecy surrounding this endeavor, he stated, and everything that must be published or said will be done so when the time is right.

The National Cathedral of Ghana Secretariat has revealed that donations totaling more than GH32 million have been made in support of the Cathedral project.

The Secretariat claims that it got more than GH2.6 million in 2018, GH3.8 million in 2019, GH13.8 million in 2020, GH7.7 million in 2021, and GH3.6 million thus far in 2022.

It stated that a significant portion of the donation came from private individuals and organizations and added that the Ghanaian Church gave more than GH2 million.

The Church of Pentecost, Action Chapel International, the Presbyterian Church of Ghana, and the Southern Ghana Union SDA are the top donors, providing GH 700,000, 200,000, 200,000, and 200,000 respectively, according to a document made public by the NEC Secretariat.

The release also stated that Ghana would have a National Cathedral Week Celebration from July 4 to July 10, 2022.