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We can’t tolerate 30% interest rate burden – John Kwakye

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The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye wants the interest rate of 30 percent to be reduced immediately by the Bank of Ghana (BoG).

He says the economy can no longer survive on the 30 percent rate.

“The burden placed on the economy by 30% artificial interest rates can not be tolerated anymore. Interest rates must be reduced through monetary policy rationalisation, reduction in government borrowing and reinforced banking regulation.

“Banks have been riding on artificially high interest rates fuelled by ineffective monetary policy and excessive Gov’t borrowing to post high profits. Bank of Ghana must rein in interest rates as a matter of urgency to reduce the burden on the economy,” he wrote on his X platform.

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He added “Bank of Ghana has a duty to reduce the interest rate burden on the economy. No business or economy can thrive with over 30% [policy] rate. The problem lies in the Bank’s exclusive reliance on interest rates to control inflation without addressing the supply/cost drivers as well.”

At the last Monetary Policy Committee (MPC) press conference held in Accra on Monday, November 27, the BoG decided to maintain the policy rate at 30 percent.

Governor of the Bank of Ghana Dr Ernest Addison stated that although inflation was dropping, the rate was still high, hence the decision to maintain the policy rate at 30 percent.

The Policy Rate is an interest rate that the central bank sets in order to influence the evolution of the main monetary variables in the economy like consumer prices, exchange rate or credit expansion, among others.

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The Committee noted that tighter financing conditions, slower growth in the manufacturing and services sectors, and China’s slower recovery were exerting some moderating influence on global economic activity.

Earlier aggressive policy tightening by advanced economies central banks has contributed to the dampening of inflationary pressures with headline inflation decelerating in many of their economies. This has led to a pause in the tightening cycle. But core inflation remains high and is declining slowly due to strong labour markets, Governor Addison said.

Source: 3news.com

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UGMC disputes Michael Blackson’s claims over late mother’s treatment

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The University of Ghana Medical Centre (UGMC) has disputed claims made on social media by comedian Michael Blackson concerning the treatment given to his late mother, saying a review found that the allegations did not accurately reflect what happened during her stay at the hospital.

In a statement issued in Accra on August 5, 2026, the management of UGMC expressed condolences to Mr. Blackson and his family over the death of his 83-year-old mother, who died at the facility on July 16, 2026.

The hospital said it had taken the concerns raised by Mr. Blackson seriously and conducted a thorough review in line with its clinical and administrative procedures.

According to the statement, the facts presented by Mr. Blackson on social media contained “numerous inaccuracies” and did not accurately reflect the medical care provided to his mother.

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UGMC explained that she was referred to the facility from another hospital and received treatment there from May 27 to July 16, 2026, a period of about eight weeks.

The hospital stated that it would not release details of her diagnosis, treatment, medical records or other aspects of her care because it had a duty to protect patient confidentiality, even after death.

It said the decision was intended to respect the dignity of the deceased and the privacy of her family.

UGMC further stated that all clinical decisions at the facility are made by qualified healthcare professionals based on medical judgment, established standards of care and the best interests of the patient.

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The statement added that such decisions are made in consultation with authorised family representatives where necessary and that billing and financial procedures are governed by institutional policies and are separate from clinical decision-making.

The hospital noted that it values feedback from patients and their families and considers both positive and negative comments important for improving the quality of care.

Mr. Blackson had earlier used social media to criticise the care his mother received at UGMC, prompting the hospital’s response.

By: Jacob Aggrey

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NPP suspends Greater Accra campaigns ahead of “Democracy Under Attack” demonstration

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The New Patriotic Party (NPP) has directed all aspirants campaigning in the Greater Accra Region to suspend their campaign activities on August 5 and 6 and instead mobilise supporters for the party’s planned “Democracy Under Attack” demonstration.

The directive was issued by the party’s National Steering Committee in a statement signed by the NPP General Secretary, Justin Kodua Frimpong, on Tuesday.

According to the statement, the decision forms part of efforts to ensure a strong turnout for the demonstration, which is scheduled for Thursday, August 6, 2026.

The party said the protest would begin at 5:00 a.m., with participants expected to gather at the Supreme Court in Accra.

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It further directed Regional, Constituency and Polling Station Executives in Greater Accra to work closely to mobilise members and supporters for the event.

“The National Steering Committee is calling on all aspirants currently campaigning across the Greater Accra Region to temporarily suspend their campaign activities on the 5th and 6th of August and join in mobilising support for the upcoming demonstration,” the statement noted.

The NPP appealed to party members and supporters to remain peaceful, disciplined and orderly throughout the protest.

The demonstration forms part of the party’s response to concerns it has raised over issues relating to Ghana’s democratic governance and the justice system.

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The NPP leadership expressed confidence that party members would cooperate fully to ensure a successful and peaceful event.

By: Jacob Aggrey

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