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Gideon Boako credits NPP for foundations of single digit inflation
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Member of Parliament for Tano North and Spokesperson to Vice-President Mahamudu Bawumia, Gideon Boako has argued that Ghana’s current single-digit inflation is possible because of policy measures put in place by the former New Patriotic Party administration.
Addressing Parliament, Mr Boako explained that by April 2014, the Government of Ghana had signed a Standard Credit Facility Agreement with the IMF which introduced macro-fiscal programs aimed at reducing inflation.
He noted that the plan, which was communicated by both the IMF and the Bank of Ghana, was structured to bring inflation down to single digits by the end of 2025.
He stated that the current administration only continued the program that was already in place and is now benefiting from it.
He added that officials of the previous government should be proud that their policies have contributed to the current inflation achievement.
Mr Boako however expressed worry over what he described as the tools used by the present government to push inflation down.
He warned that these tools could affect the wider economy and ordinary citizens.
He identified two measures he believes were used in 2025 to support the single-digit inflation.
The first was “sterilization” by the Bank of Ghana, which he explained as a monetary mechanism that withdraws money from the public and channels it back into the central bank.
He argued that this reduces disposable income and affects household consumption.
The second measure, he explained, was what he called excessive fiscal consolidation by the Ministry of Finance, anchored on delayed payments and what he described as arrests intended to present a good public image.
Mr Boako referenced paragraph 248 of the budget statement, which outlines intensified open market operations by the Bank of Ghana in line with its disinflation goals. The document notes limits placed on net domestic assets through higher stabilization and reduced claims on government.
He highlighted the minister’s report that 62 billion cedis was involved in this process and cautioned that the economic impact of these actions must be examined closely.
By: Jacob Aggrey
Construction of a major underground stormwater drain along the Dr. Busia Highway within the Kaneshie enclave will commence on September 7, 2026.
The Project Coordinator for the Greater Accra Resilient and Integrated Development (GARID) Project, Dr. Kwadwo Ohene Sarfo, announced this at a special media briefing on Wednesday.
According to him, the works will involve the construction of a double-cell underground rectangular drain measuring approximately 10 metres wide and 1.95 kilometres long, stretching from Pamprom Junction to First Light Junction.
The new drain will replace the existing two 1.2-metre diameter pipes, which are inadequate to carry the volume of stormwater in the area.
Dr. Sarfo said the drain will connect at one end to the recently completed section within the Accra Academy campus and at the other end to the existing drain at Pamprom Junction.
He said the construction is expected to run from September 2026 to October 2027.
The project forms part of government’s broader flood prevention and mitigation programme aimed at addressing perennial flooding in Accra.
By Edem Mensah-Tsotorme
The former Ashanti Regional Chairman of the New Patriotic Party (NPP), Bernard Antwi Boasiako, popularly known as Chairman Wontumi, has withdrawn from the party’s National Chairmanship race.
In a statement issued yesterday, Chairman Wontumi who is currently serving a 20-year jail term said his decision was driven by his love for the party and his unwillingness to let his personal circumstances distract the NPP from its rebuilding efforts.
“There are moments in the life of a man when the heart wants to continue, but duty demands sacrifice. Moments when one must quietly set aside personal ambition, not because the dream has died, but because the family he loves must not be made to carry his burden. Today, I find myself at such a painful moment,” he wrote.
He disclosed that after many nights of prayer, sober reflection and consultations with his family, legal team, party elders, campaign team and trusted supporters, he concluded that his present situation must not become an additional burden on the NPP.
“This is not the decision my heart desired, but sometimes, true love requires us to release what we deeply want in order to protect what we love even more,” he added.
Recounting his years of service, Chairman Wontumi said he had served the party with everything within him, walking through heat and rain, travelling to remote communities and standing with the grassroots in both victory and defeat.
“For many years, I have served the NPP with everything within me… The NPP is not merely a political party to me. It is my family. It is my home. It is a cause to which I have dedicated a significant part of my life,” he stated.
He explained that the party, already carrying the pain of electoral defeat and the huge responsibility of preparing for the future, should not be made to carry his personal weight.
“That is why I cannot allow my present situation or personal ambition to distract the party from the difficult work of rebuilding. I cannot ask the party to carry my weight when it is already carrying the pain of defeat and the enormous responsibility of preparing for the battle ahead. I would rather carry this pain quietly than allow the party I love to suffer because of me,” he said.
He further sympathized with his supporters across the 16 regions, acknowledging that the decision would be painful for many who had sacrificed for his campaign.
“To my teeming supporters across all sixteen regions, I know this message will hurt. I know many of you will read it with tears in your eyes because I understand the sacrifices you have made for this journey,” he said.
By Edem Mensah-Tsotorme
