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Strictly adhere to bailout programme – IMF advises Ghana
The International Monetary Fund (IMF) is urging Ghana not to deviate from the course of its fund programme to ensure that the country reaps the full benefits of the ongoing bailout package.
The Fund requires effective implementation of structural reforms following the release of the $600 million second tranche and at a time when the government is said to be considering engagements with the IMF for a consensus on the anticipated revenue shortfall over the planned suspension of the VAT on electricity.
But the IMF insists that Ghana adheres to the agreed-upon austerity measures in order to manage its way out of the economic crisis.
“What I can say is that going forward, it would be really, really important that Ghana continues to implement the program that they have developed as envisaged. That is really critical. These programs are designed to be implemented over three, four years. And it is important that Ghana sticks to the course and sees the program being implemented over the next three years,” says Abebe Selassie, Director of the African Department at the IMF, who has been speaking about Ghana’s program in Washington, DC.
In late January, the Bank of Ghana acknowledged receipt of US$600 million as the second tranche for budget support and stabilization of the local currency, bringing the total to US$ 1.2 billion out of the $3 billion approved under the three-year extended credit facility in May 2022.
The IMF has stated that Ghana is performing well under the program, with reforms bearing fruit and signs of economic stabilization emerging.
“Ghana’s program is being implemented effectively. We just went to the board recently with the first program review following, of course, the policies that the government has been putting in place to address the huge imbalances Ghana was facing through last year. And of course, the official creditors are signaling that they will provide debt relief, consistent with what Ghana needs. So, we just went to the Board a couple of weeks ago. We look forward to continuing to support Ghana, consistent with program implementation,” Abebe Selassie added.
Ghana’s next IMF program review is scheduled for June 2024 for the third tranche of approximately US$ 360 million.
Source: Citinewsroom.com
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Remove all unauthorized outdoor advertising signs and billboards mounted at road medians – NRSA cautions advertising companies
The National Road Safety Authority (NRSA) has announced plans of continuing its enforcement exercise to remove all unauthorized outdoor advertising signs and billboards located in road medians.
The decision to embark on this exercise, according to the authority, is to avert risks posed by the signs, which cause visual and cognitive distractions to drivers and obstruct the view of both motorists and pedestrians.
The authority in a statement disclosed that the exercise would cover the N1 Highway (from the Achimota Overhead to the Dzorwulu Fiesta Royale Traffic Light), the Dr. Kwame Nkrumah Circle Stretch (from Circle to Odorkor through to the Weija intersection), Spintex Road (from the Action Chapel intersection to the Palace Mall), and the Kawokudi to Achimota stretch.
The NRSA said it will begin this phase of the removal exercise in August, in collaboration with municipal assemblies in the Greater Accra Region.
The authority warned advertising companies, their clients, and sign owners to voluntarily remove their signs with immediate effect.
The NRSA stressed that failure to do so will lead to forceful removal, and the full cost of the operation will be charged to owners of the non-compliant signs.
The Authority added that this exercise is part of efforts to ensure safer roads for all road users and called for the cooperation of all stakeholders.
By Jacob Aggrey
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MP for Ejisu highlights deplorable conditions of roads in the Ejisu constituency
The Member of Parliament for Ejisu, Kwabena Boateng has highlighted the deplorable conditions of roads in the Ejisu Constituency.
He noted that these roads are lifelines that connect the people to markets, schools, hospitals, and workplaces.
According to him as far back as a year ago, work commenced on both Ejisu-Onwe and Kokobra-Achiase roads.
Bridges were built, gutters were constructed, and the people’s hopes were rekindled but those hopes are dimming once again.
The MP for Ejisu made this known to the House when he presented a statement on the deplorable conditions of roads in the Ejisu constituency.
“Mr. Speaker I do not rise to lay blame. I rise to call this House to conscience to remind ourselves that governance is a continuum and the same exist for the benefit of all including the people of Onwe,Asieninpong, Kwaso, Kokobra,Ekyem, Akokoamong, Achiase,Asamang among others,” He stated.
Sadly he indicated that, the situation has worsened with the onset of the rainy season, stressing that these roads have become traps endangering pregnant women, school children, traders, and farmers. Vehicles get stuck, transport grinds to a halt, produce spoil and the local economy bleeds quietly.
He appealed to the Minister of Roads, Kwame Governs Agbodza to help fix the roads to ease the frustration of road users.
