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Iran-backed group suspends attacks against US after drone strike

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President Joe Biden

An Iran-backed Iraqi militia suspected of a drone strike in Jordan that killed three US soldiers says it has suspended operations against US forces. Kataib Hezbollah, which is part of an umbrella group that claimed Sunday’s attack, said this was “to prevent embarrassment of the Iraqi government”.

The US defence department said: “Actions speak louder than words.” US President Joe Biden meanwhile said he had decided how to respond to the attack but did not elaborate.

Iran warned it would retaliate against any attack on its “interests”. Earlier, it denied US and British accusations that it was involved in the attack.

The US has hinted at an armed response that might come in several waves.

The three US soldiers were killed at a base next to the Jordanian-Syrian border by a “type of Shahed drone”, the one-way attack drones Iran has been providing to Russia, a US official told CBS News, the BBC’s US partner.

Dozens more soldiers were injured in the attack on Tower 22, which was struck while US forces were asleep in their bunks.

Credit: bbc.com

Well-Developed Africa Mutually Beneficial To Europe, Rest Of The World – Pres Akufo-Addo

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Akufo-Addo speaking

The President of the Republic, Nana Addo Dankwa Akufo-Addo, has called on world leaders to recognize that the increasing levels of inter-dependency amongst the comity of nations translates into shared destinies, whether good or bad, across the globe.

Speaking at the annual Africa Day event, on Tuesday, 30th January, 2024, Vienna, Austria, President Akufo-Addo told the gathering of global leaders that, he believes a well-developed and prosperous Africa would be good, not just for us Africa, but also for you, here in Austria and Europe.”

Citing antecedents of equitable balance of wealth, he alluded to the lessons of history that has shown that “a rich trading partner, operating within a fair, trading system, brings prosperity to both sides, far more than the exploitation of a poor partner,” he said.

In addition, he stated confidently that, “the problems that face the world are more likely to be quickly resolved when we are all prosperous, than when half the world is immersed in poverty.”

Emphasising on the reasons for a fair and mutually beneficial trading system, he said, “the continent is in possession of thirty percent of the earth’s remaining mineral resources, and two-thirds of the earth’s arable land.”

However, he bemoaned the age-long practice where Africa has been largely dependent on the production and export of raw materials, without any meaningful value-addition processes.

“After sixty odd years, it is obvious that the aid path will not take Africa to where she has to be. Africa does not want to be a scar on anybody’s conscience. She does not want to be pitied; she does not want to be either a pawn or a victim.

Africa no longer wants to be the default place to go to find the footage to illustrate famine stories. We no longer want to offer the justification for those who want to be rude and abusive about Africa and her peoples,” he stressed.

Recalling the prevalent situation during the latter half of the century, he disclosed that, ‘the countries that made rapid economic strides were the ones that prioritised investment in education and skills training, and encouraged high levels of investment in entrepreneur development.”

He added that, the key catalysts to accelerate economic growth, ensure food security, and create jobs for our educated, empowered youth, will be to spur the growth of more entrepreneurial economies in Africa will provide the basis for undertaking the urgent task of the structural transformation of African economies, which are largely dependent on the production and export of raw materials, to value-added, industrial ones, and stimulate agricultural productivity.

“I am here today to call for increased investment and trade between our two continents. Trade relations between us have evolved through history, and it is clear that a new paradigm has to be defined, which will be dependent on the structural transformation of the African and Ghanaian economies from raw material producing and exporting economies, to value-adding, industrialising economies,” he told the gathering.

Once this done, President Akufo-Addo, continued that, I”t will enable the countries on the continent, including Ghana, to trade at the high end of the global value chain, dealing in products we make and grow.

Out of this, a robust trading system between Europe and Africa, Austria and Ghana will be created, which will generate mutual prosperity for the peoples of the two continents and countries.

Desecribing Ghana as a haven of peace, security and stability and the safest country in West Africa where legitimate investments are protected, he said, “we have resolved to build a progressive and prosperous country, and are drawing inspiration from the success story of countries around the world. We have also decided to walk hand-in-hand with the private sector and the business community in this journey.”

That is why “we have worked hard these past three years to turn the corner, and return to the high periods of growth which characterised my first term in office, when we were, consistently, amongst the highest growing economies in the world,” fueled by the overarching goal of making the Ghanaian economy the most business-friendly economy in Africa.”

Feature: From the horse’s mouth: Technical education is a changer for girls interested in STEM

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Two female auto mechanical engineering students

Adolescent girls in Sub-Saharan Africa (SSA) are at a higher risk of dropping out of upper secondary school. According to UNESCO, over 19.3 million adolescent girls of upper secondary school age are out of school in SSA and for those who make it to upper secondary school, studying Science, Technology Engineering and Mathematics (STEM) particularly in technical education is improbable.

Nonetheless, girls like Esi and her colleagues who venture to study STEM in technical education in Ghana consider the opportunity as life changing.

The participation of girls in STEM is crucial 

Ensuring that girls have equal opportunities to choose – and thrive in – STEM, especially in an increasingly digital and green world, can narrow the gender pay gap, improve economic security, ensure a diverse and talented labor force, and avert biases in products and services.  However, less than 30% of graduates from tertiary education engineering programs in SSA are females, and out of these graduates only 20% are engineering workers.

Despite the staggering evidence, SSA countries and development partners continue to explore ways to improve girls’ education and access to STEM. In Ghana for instance, the Government’s free education policy and the recent strategy allowing flexibility for non-STEM students to switch to STEM programs are creating flexible access for girls.

The World Bank’s Western and Central Africa Education Strategy 2022-2025 aims to empower girls through schooling: increase girls’ secondary school gross enrollment rates from 41.9% to 46.9% and strengthen higher education and Technical Vocational and Education Training (TVET) systems to produce more employable graduates for inclusive growth.

The practical game changers attracting girls like Esi to STEM 

Considering the aspiration to improve girls access to STEM and to understand why some girls “dare” to study STEM in technical education, researchers interviewed 26 young Ghanaian women studying STEM in technical secondary education.

Esi*, one of the participants explained that the applied nature of STEM in technical education, including practical lessons in school and integrated industry-based training, was attractive. The applied nature enabled her to solve real life problems and dispelled existing social stereotypes about girls’ inability to acquire and use STEM skills.

Two female students practicing brick laying

Aki also emphasized that flexible admissions in technical education changed the odds in her favor. Notwithstanding her average performance (grades B-C) in science and mathematics in her Basic Education Examination Certificate (BECE: the entrance examination for entry into upper secondary school education in Ghana), she gained admission to study computer hardware technology.

Additionally, Sika explained that the flexibility for her to switch from catering to refrigeration and air conditioning technology within the first year of admission was her chance to participate in STEM.

Other young women further narrated that studying STEM in technical education was a passport to multiple transition pathways, namely: entrepreneurship, employment, and further education. For Aku who was interested in entrepreneurship, she wants to set up her workshop in the future to contribute to job creation.

And Ata who is considering employment with a company, anticipates joining sectors that need her skills. Finally, Yaa, who had interest in further education, considers getting a tertiary education to make her more competitive in the labor market.

What can we learn from the narratives of Esi and her colleagues? 

These narratives bring a stimulating perspective to how technical secondary education could be a game changer in the effort to increase the participation of girls in STEM. As countries in SSA consider viable ways to increase girls’ participation in STEM: governments could harness what these girls have shared .

Honing the applied approach of technical education through well-equipped workshops that have advanced digital technologies such as augmented and virtual reality; creating awareness about the multiple pathways for girls after studying STEM in technical education and making STEM admissions more flexible could attract more girls to choose and persist in STEM.

It is also important to recommend that governments need to invest in targeted remediation programs, including using adaptive learning technologies for girls with average academic performance to thrive in STEM.

The participation of girls in STEM is crucial now more than ever for SSA countries. And if the characteristics of technical education could change the game for more girls, then governments and their development partners must increase and sustain investments to enhance these enablers.

Not only can these enablers inspire more girls in SSA to pursue STEM education and occupations but change the lives of millions of girls and boys.

*For anonymity purposes, the names of the young students have been changed. 

Source: World Bank

 

Today’s European League Fixtures & Previews

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Marcus Rashford's off-field disciplinary matter worries Ten Hag

Manchester United travel away to play Wolves   

Wolverhampton Wanderers can leapfrog Manchester United in the Premier League table if they claim maximum points in Thursday’s contest at Molineux.

The hosts will be seeking revenge against the Red Devils after they suffered a controversial 1-0 defeat in the reverse fixture at Old Trafford back in August last year.

Wolves extended their unbeaten run in all competitions to seven matches when they secured a 2-0 victory over rivals West Bromwich Albion in the FA Cup fourth round on Sunday.

Wolves, who have picked up the second-most points (14) in the Premier League since December 5, will welcome a return to Molineux where they have not lost any of their last eight Premier League home games, beating Manchester City, Tottenham Hotspur and Chelsea during this period.

However, the West Midlands outfit have suffered defeat in six of their last seven top-flight encounters with Thursday’s opponents Man United, losing each of their last three without reply.

Manchester United have now won two of their last three games, both in the FA Cup against teams at least two divisions below them, the jury is still out on Erik ten Hag as his side’s inconsistent form has frustrated much of the club’s fanbase; the Red Devils have won just four, drawn three and lost five of their last 12 matches in all tournaments since the end of the November.

Amidst dealing with Marcus Rashford‘s off-field “disciplinary matter”, Ten Hag is tasked with finding the right formula to get the best out of his squad and build a much-needed run of positive results as they attempt to climb from eighth place in the Premier League table towards the European spot.

First-choice shot-stopper Andre Onana is available after returning from a disappointing AFCON campaign with Cameroon.

Wolves have turned up for the big occasions this term and boast an impressive home record, but Man United have a knack of grinding out positive results against the West Midlands club and may do enough to claim a share of the spoils.

Credit: sportsmole.co.uk

 

West Ham clash with Bournemouth at the London Stadium

West Ham United and Bournemouth return to action in the Premier League when they lock horns at the London Stadium on Thursday.

The Cherries turned in a five-star performance in their FA Cup clash against Swansea City last time out and will be looking to keep the juggernaut rolling.

West Ham United were denied their first win of the year last time out when they were held to a 2-2 draw by Sheffield United at Bramall Lane.

Mohammed Kudus, West Ham

Prior to that, David Moyes’ side fell to a shock 1-0 loss against Bristol City in the FA Cup on January 16 which saw their four-game unbeaten run come to an end.

With 35 points from 21 matches, West Ham United are currently sixth in the Premier League table, five points behind fifth-placed Tottenham Hotspur in the UEFA Europa Conference League qualification spot.

Elsewhere, Bournemouth picked up their biggest win of the season last Thursday when they thrashed Swansea City 5-0 in their FA Cup fourth-round clash at the Vitality Stadium.

Andoni Iraola’s side now turn their sights to the Premier League, where they are on a two-game losing run, having picked up six wins and one draw in the seven games preceding this run.

Having turned their fortunes around in November, Bournemouth are now on course for a top-half finish. Buoyed by their cup victory, Bournemouth will head into Thursday’s clash with sky-high confidence. Bournemouth are on a solid run of form in the league and we fancy them troubling the hosts who have struggled to get going since the turn of the year.

 

Real Madrid make the short trip to face Getafe

 

Real Madrid will have the chance to move top of La Liga when they make the short trip to the Coliseum for Thursday’s La Liga clash with Getafe.

While Los Blancos currently sit in second place and one point adrift of Girona, the Azulones will head into the contest in 10th position. Getafe returned to winning ways in Monday’s clash with Granada after losing to Sevilla and Osasuna in the Copa del Rey and league respectively.

Having lost each of their last four meetings with Real Madrid, Getafe are hoping to claim their first head-to-head victory since winning 2-1 in January 2022.

Jude Bellingham, Real Madrid

After coming from two goals down to beat Almeria 3-2, Real Madrid were forced to produce another fightback in Saturday’s away clash with Las Palmas.

As a result of their successful trip to Gran Canaria, Real Madrid have now won five consecutive matches in La Liga, while they are also unbeaten in 15 league games since suffering their only defeat of the season in September’s meeting with Atletico Madrid.

Los Blancos have since faced Atletico on two occasions, and they are set to meet their local rivals for the third time in the space of a month in Sunday’s La Liga fixture, but first, they must negotiate a tricky away game against Getafe.

The visitors will know that a win is far from a foregone conclusion, having dropped points in three of their last five away meetings with Getafe, but they can take confidence from the fact they recorded a narrow 1-0 victory on their most recent visit to the Coliseum in October 2022.

Having lost just once at home in the league this season, Getafe will fancy their chances of causing Real Madrid a problem or two.

While we think Getafe may run Real Madrid close, we think the visitors will have enough quality to claim maximum points in Thursday’s encounter.

Credit: sportsmole.co.uk

Dampare Deepens Police, Military Relations …with support of GIS, GNFS, Prisons & Customs

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IGP Dampare and CDS Amoama arriving at the parade grounds

The Police administration has taken the military-Police relationship a notch higher by organising a historic Guard of Honour and reception for the outgoing Chief of Defence Staff (CDS), Vice Admiral Seth Amoama.

heads of various security agencies handing over a citation to outgoing CDS

The programme, held at the forecourt of the Police Headquarters, had in attendance heads of other security services.

They are; Mr Isaac Kofi Egyir, Director-General of Ghana Prisons; Mr. Julius Kuunuor, Chief Fire Officer; Mr Kwame Asuah Takyi, Comptroller General of Ghana Immigration Service and Alhaji Seidu Iddrisu Iddisah, Commissioner of Customs Division of Ghana Revenue Authority (GRA).

The event also happened to be a surprise Guard of Honour, which the outgoing CDS was highly appreciative of.

In an acceptance speech, Vice Admiral Seth Amoama noted that in his 42 years of service in the Force, never has he seen something of this sort.

He described the event as a novelty, and that it would go down the annals of history as the first of its kind organised by a sister security agency, for an outgoing head of another security service.

He advised his successor, Major General Thomas Oppong Peprah, to copy the good example that has been exhibited by the Ghana Police Service and even stride to do more.

He thanked President Nana Akufo-Addo for the trust he reposed in him as CDS.

Vice Admiral Seth Amoama equally thanked the Inspector General of Police (IGP), Dr. George Akuffo-Dampare and the heads of other security services for the kind words.

IGP Dr. Dampare, on his part, said the guard of honour was in respect of the cordial relationship that had existed between the GAF and the Police Service.

He said the Police Service was celebrating the outgoing CDS because during his time, he took their collaboration a notch higher.

On personal level, he said the outgoing CDS had been of help to him in many ways and he cannot thank him enough.

Mr Egyir, on the other hand, described the outgoing CDS as soft but the least to compromise on his values and ever ready to render help when the need arises.

The Director-General of Prisons stated that the outgoing CDS support his effort to calm inmates at the prisons and was grateful to him.

Similar sentiments were shared by Mr. Kuunuor, Mr. Takyi and Alhaji Iddisah about the outgoing CDS.

The police administration also presented a citation to the CDS, which partly reads: “Your commitment to inter-agency collaboration has played a pivotal role in fostering a seamless working relationship among our nation’s security agencies.

The Ghana Police Service and all other security agencies acknowledge with immense gratitude your steadfast support whenever the call for collaboration arose.

“Your responsiveness to the needs of the Ghana Police Service and all other security agencies as well as your readiness to deploy resources when required, even at the shortest notice, have significantly contributed to the successes achieved in joint operations and the discharge of shared responsibilities.”

Jinapor hosts US diplomats over climate matters

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Mr Jinapor and his guests after the meeting

Mr Samuel Abu Jinapor, the Minister for Lands and Natural Resources has hosted the Administrator of the US Environmental Protection Agency, Mr. Michael S. Regan and the US Ambassador to Ghana, H.E. Virginia Evelyn Palmer, at the Ministry of Lands and Natural Resources to discuss forest and climate-related matters.

The meeting focused on Ghana and the United States’ leadership in the Forest and Climate Leaders’ Partnership (FCLP) and Ghana’s ‘Resilient Ghana’ Country Package, which aims to protect and increase forest resources.

Mr. Jinapor and Michael S. Regan after the meeting

Mr Regan praised Ghana for its climate action leadership and expressed a commitment to ongoing collaboration to achieve a 1.5-degree Celsius world.

The government of President Nana Addo Dankwa Akufo-Addo’s Ministry of Lands and Natural Resources, under the leadership of  Samuel Abu Jinapor, is dedicated to managing Ghana’s natural resources sustainably for the benefit of the Ghanaian people and to supporting global efforts to combat climate change.

Minerals Commission speaks on Prestea-Bogoso Mines brouhaha

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Mr Martin Kwaku Ayisi, CEO of Minerals Commission

The Minerals Commission (MC) says neither itself nor the Ministry of Lands and Natural Resources has received a formal application or request from FGR Bogoso Prestea Ltd, the operators of the Prestea-Bogoso Mines, to put the Mine under Care and Maintenance.

Spokesperson for the Senior Staff Union of Bogoso-Prestea Mines, MacDonald Hickson had in an interview described the performance of FGR as “nothing to write home about”, since the FGR was appointed by president Akuffo-Addo to manage the Bogoso-Prestea Gold Mines six years ago.

He accused the FGR of incurring debt for the company. He claimed mining company owed over $28 million, including salary arrears.

Mr Hickson claimed that the FGR Investors are not financially capable of paying the debts owed, and hence, no attempt made by the FGR to address the challenges facing the company.

He promised to embark on a demonstration to draw the attention of the sector minister, Samuel Abu Jinapor, to the concerns of the workers and the financial difficulties the company is facing, due to the alleged mismanagement of the company by FGR.

But in the statement issued by the Commission yesterday, it explained that an application to suspend production is clearly set out in section 51 of the Minerals and Mining Act, 2006 (Act 703), which requires the holder of the Mining Lease to serve a notice to that effect on the Minister.

“As indicated earlier, no such request or application has been submitted to the Minister. In the event that such an application is received, it shall be considered in accordance with applicable Regulations and the current state of the mine and a decision taken in the best interest of the Country”, the statement said.

The following is the full statement;

It has come to the attention of the Minerals Commission (Commission) that FGR Bogoso Prestea Ltd, the operators of the Prestea-Bogoso Mine made a verbal presentation to the Ministry of Lands and Natural Resources to put the Mine under Care and Maintenance.

The Prestea-Bogoso Mine is currently under the control of FGR Bogoso Prestea Ltd (FGR) and its principal shareholder, Blue International Holdings Limited, which is based in the United Kingdom. The Mine was previously operated by Golden Star Resources Limited, until the asset was transferred to FGR.

For the avoidance of doubt, neither the Ministry nor the Commission has received a formal application or request from FGR to put the Mine under Care and Maintenance.

An application to suspend production is clearly set out in section 51 of the Minerals and Mining Act, 2006 (Act 703), which requires the holder of the Mining Lease to serve a notice to that effect on the Minister.

As indicated earlier, no such request or application has been submitted to the Minister. In the event that such an application is received, it shall be considered in accordance with applicable Regulations and the current state of the mine and a decision taken in the best interest of the Country.

The Commission is aware of the stoppage of mining operations in December 2023, due to some operational challenges.

It is important to note that the Commission issued a Notice to FGR in August 2023, to show cause why the Mining Lease should not be terminated due to identified breaches of the Mining Lease.

The notice expired in December 2023 and the Commission shall shortly advise the Minister on the next steps following the expiration of the Notice period.

The Commission wishes to assure the public of its unflinching commitment to ensure the effective and efficient management of the mineral resources of the country, the protection of mining investment in general and the Prestea Bogoso Mine in particular to protect jobs, the local Prestea economy, community development as well as revenue generation for the benefit of the good people of Ghana.

Burkina, Mali, Niger exit –slap in the face of ECOWAS?

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ECOWAS

The world was greeted with thunderbolt of shock when on Sunday January 28, 2024 three member states of the Economic Community of West African States (ECOWAS) pulled out of the sub-regional body. They are Burkina Faso, Mali and Niger, all Sahelian states in the block.

A number of factors, ranging from trans-border trade to security matters have come to focus. The formation of ECOWAS in 1975 came to formalise existing cross border trade among these nations and beyond.

These landlocked states have from time immemorial been using their traditional ports in Dakar (Senegal), Abidjan (Ivory Coast), Lome (Togo) and Cotounou (Benin) for the movement of goods from the seaports to the respective countries. Lately, the Ghanaian ports of Tema and Takoradi have been added.

Article 125 of the United Nations Convention states that landlocked states have the right of access to and from the sea for the purpose of exercising the rights provided for this Convention, including those relating to the freedom of the high seas and the common heritage of mankind.

On July 26, 2023 a group of soldiers in Niger staged a coup which ousted the democratically elected President Mohammed Bazoum.

The sub-regional body issued a fiat to the junta to reinstate the deposed leader, which bluff the coupe makers called. The Chiefs of Defense Staff of ECOWAS member states met in Accra and declared ‘war’ against Niger.

This declaration rather incensed Burkina Faso and Mali, whose respective junta leader also came under constant threats from ECOWAS. These three states, therefore, formed alliance to defend themselves against any external aggression.

By this time, ECOWAS slapped sanctions against the three states, which had denounced further dealings with their colonial master, France, and opted for Russia. As biting as the sanctions became, the countries never relented in their desire to achieve a common objective, which is self-dependence, by relying on their own natural resources.

Meanwhile, in September, 2023 these countries went ahead to establish an ALLIANCE OF SAHELIAN STATES and proposed a common currency known as Sahel.

To them, the idea of belonging to a body which allows constitutional coup by way of electoral malpractices, but rejects military takeovers is not worth it.

The question now is, if we needed to persuade them to return to our fold as a sub-regional body, do we start by lifting the sanctions or the reinstatement of democratic dispensation or both.

Already, the Ghana Union of Traders Association (GUTA) in a press release on Monday wants Ghana to by-pass ECOWAS and deal with the three breakaway countries.

Signed by its President, Dr Joseph Obeng, its reads: The withdrawal of Niger, Mali and Burkina Faso from the ECOWAS sub-regional block will, in no small measure, hinder the development of the sub-region as an economic block because there can never be progress without unity of purpose.

Therefore, their withdrawal from ECOWAS will  impact negatively on cross border trading activities, especially with Ghana, where we are very much related and intertwined in terms of our economy, history and culture among others.

In fact, Ghana stands to gain immensely when everything is done to bridge our relationship with these countries. There is a list of items that we trade among ourselves such as onions, tomatoes, cola nuts, salt and the list continues.

The exit of the three countries from ECOWAS will cause unnecessary controls at the borders, which will hinder the free movement of people, goods and services within the sub-region.

We should be mindful of the fact that one major reason for the formation of the Regional block is to take advantage of the number of people in the sub-region for the purpose of trading to enhance our economies.

We also know that member states have their own bilateral relations with each other.

Therefore, as a country, the first step or strategy to use is for Ghana to by-pass ECOWAS and rely heavily on the already existing good relationships with the three countries.”

Meanwhile, Security Analyst, Col Festus Aboagye (rtd) is of the opinion that with their departure, the free flow of intelligence sharing will suffer a break and hurt the sub-region.

He was specifically not happy with the infiltration of small arms and weapons and the break in information sharing among the countries of the sub-region must be given a second thought.

At worse, the security expert suggested that without these three states, the body ECOWAS should rebrand to Economic Community of Coastal West African States (ECOWAS), especially knowing too well the present membership of the sub-regional body being coastal countries.

2024 expected to end with at least 13% inflation -BoG

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Bank of Ghana

Headline inflation is expected to ease between13% to 17% by the end of 2024, according to the Bank of Ghana (BoG).

The Central Bank says the expectation was as a result of inflation declining sharply by more than 30% in the course of 2023.

It is also expected to trend back gradually to within the medium-term target range of 6-10 percent by 2025.

This was announced by the Governor of the Bank of Ghana, Dr. Ernest Addison, during the 116th Monetary Policy Committee (MPC) in Accra, on Monday, January 29, 2024.

These forecasts, he said, were likely to see upside risks to the inflation outlook and there was

need for strict implementation of the 2024 budget and a tight monetary policy stance to

sustain the disinflation process.

Addressing the media, the Governor said several factors have supported the disinflation process, namely “the tightening monetary policy stance throughout 2023, favourable international crude oil prices which led to stable ex-pump prices and transportation cost and relative stability in the

exchange rate.”

On the monetary policy rate, the committee noted the emerging recovery, but found the need to maintain a strong policy stance to consolidate the disinflation gains.

Under these circumstances, the Committee decided to reduce the Monetary Policy Rate by 100 basis points to 29 percent.

According to him, the decision was taken following a steady decline in inflation from 54.0% in December 2022 to 23.4% in December 2023, though there are downside risks.

The Governor further indicated that the Committee noted that global growth had remained relatively subdued in 2023, while the ease in global inflation had triggered a pause in monetary

policy tightening across key economies.

“Declining energy and food prices, together with tight monetary policy have exerted downward pressures on headline inflation. Although major central banks have paused on their policy rate hikes due to declining inflation, global financing conditions remain tight as the past effects of the restrictive policies continue to keep borrowing costs high,” he added.

The global outlook, he said, remains uncertain with geopolitical tensions and its potential spillovers to the commodities markets acting as a major risk factor to most economies.

On the domestic economy, the governor continued that there are clear indications that the current

Macro-economic framework being implemented with the support of the IMF-ECF programme is yielding positive results.

However, Dr. Addison noted that both headline and core inflation were declining and projected to decelerate further.

On the money market, interest rates broadly trended downward at the short end of the yield curve.

The 91-day and 182-day Treasury bill rates decreased to 29.49% and 31.70% respectively, in December 2023, from 35.48% and 36.23% respectively, in the corresponding period of 2022.

Similarly, the rate on the 364-day instrument decreased to 32.97% in December 2023 from 36.06% in December 2022.

Dr. Addison emphasised that the banking sector remains stable, despite the elevated credit

risks.

Also, he added again that the bank’s liquidity and profitability positions have improved in the aftermath of the domestic debt restructuring and the Bank was closely monitoring the capital restoration efforts of the banks in line with approved plans, including through support from the Ghana Financial Stability Fund.

However, it was expected that early recapitalization and effective risk management by banks will help promote overall banking sector stability and resilience and ensure effective financial intermediation to strengthen the economic recovery efforts.

“The country’s external buffers have increased, providing support for exchange

rate stability. Improved forex inflows from the IMF-ECF disbursements, receipt of the cocoa

syndicated loan, and expected funding from the World Bank’s Development Policy Operations are expected to improve foreign exchange inflows,” he stated.

In addition, he was optimistic that the gold for reserve programme of the Bank, repatriation of foreign exchange from the mining and oil companies and reduction in debt service payments would further support reserve build-up and improve the external sector outlook.

Editorial: Fake prophecies are detrimental to our democracy, Let’s stop it!

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Editorial

Ghanaians have been advised against allowing themselves to be manipulated by fake prophecies in choosing political leaders as the country prepares towards the 2024 general election.

Those prophecies were self-made from persons who wanted to deceive the citizenry to believe that God had chosen certain leaders for the country, the Rector of Global Theological Seminary (GTS), Rev. Dr Komi A. Hiagbe, stated.

Speaking to the Daily Graphic in an interview on the effect of the prophecies on the nation, especially during elections, the Rector said it was worrying to see certain people claiming to be men of God giving contradictory prophecies during elections which sometimes affected the sense of judgement of the congregants in making the right choices.

Some of these prophecies may cause the country to lose competent leaders, as some people are gullible to these prophecies and may fall for them in taking certain decisions, the head of the Bible and pastoral training institution of the Global Evangelical Church explained.

As Ghana approaches a crucial general election this year, it is imperative that Ghanaians remain vigilant against the influence of fake prophecies in their decision-making process.

The rise of manipulative prophecies has become a concerning trend, with individuals exploiting spiritual beliefs to manipulate public opinion and sway political outcomes.

In recent years, Ghana has witnessed a surge in self-proclaimed prophets who exploit their influence to sway political opinions.

These individuals make audacious claims about the future, including predictions about election outcomes and the fate of political leaders. By capitalising on the trust and faith of the people, they manipulate public sentiment to further their own agendas, often at the expense of the nation’s well-being.

The consequences of succumbing to manipulative prophecies are far-reaching and detrimental to the democratic fabric of Ghana. When citizens base their decisions solely on prophetic claims, they neglect to critically evaluate the policies, track records and qualifications of political candidates.

As the gatekeepers of information, the media plays a crucial role in safeguarding democracy. We must actively counter manipulative prophecies by exposing false claims, highlighting their potential dangers, and promoting critical thinking among citizens.

As we prepare for the upcoming general election, it is paramount that we remain steadfast in rejecting manipulative prophecies. We, the media, have a pivotal role to play in exposing these false claims and promoting critical thinking.

By urging Ghanaians to evaluate political leaders based on their policies, qualifications, and track records, we can safeguard our democracy and ensure that the nation’s future is entrusted to capable and deserving individuals.

Let us unite in our commitment to upholding the principles of democracy and reject the manipulation that threatens the very foundation of our nation.

The Ghanaian Chronicle