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IMF bailout: We’ll come out stronger than before – Bawumia assures

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Vice President Mahamudu Bawumia


The Vice-President, Dr Mahamudu Bawumia, is optimistic that Ghana will, this time around, emerge stronger after going to the International Monetary Fund (IMF) for support.

Ghana has already begun discussions with the IMF to provide balance-of-payments support as part of a broader effort to quicken Ghana’s build-back in the face of challenges induced by the COVID-19 pandemic and, recently, the Russia-Ukraine crises.

Speaking at the official launch of the Accra Business School’s IT Programmes on Thursday, 14 July 2022, Dr Bawumia said it will take a lot of hard work and difficult decisions for Ghana to bounce back. 

“With enhanced fiscal discipline and structural reforms to restore debt sustainability and growth, we should emerge stronger than we have with the previous 17 IMF programs,” he said.

“But it will take hard work and difficult decisions. With great pride and personal pleasure, it is good that we are all part of this launch of three new programmes by the Accra Business School in collaboration with the South East Technical University”.

“It’s a day when the neglect of many decades comes to an eventual end. It’s a beginning to lay the foundations of strengthened institutions to take up the challenges of time with an able and apt workforce. It’s a day when a new beginning is being made by forging a common alliance between the government and academic leaderships to protect, preserve and promote above all, democracy via digitalisation.”

Dr Bawumia stressed that the twin external factors of covid-19 and the war in Ukraine, which he said, has also led many countries to the IMF for support, following the rising cost of living and inability to sustain debt levels, has also exposed the need for Ghana to put in place measures to be more fiscal-discipline.

“The major lesson of the last two years is that we have to be more self-reliant as a country,” Dr Bawumia said.

“It is important that we make decisions that will inure to the benefit of the country regardless of whether we are going to the IMF for a program or not.”

“The immediate task is to restore fiscal and debt sustainability – through revenue and expenditure measures and structural reforms.

Non-concessional borrowing should be curtailed to enhance debt sustainability,” the Vice-President added.

Dr Bawumia also observed that successive governments have failed to achieve long-term economic stability after each of the past 17 IMF programmes due to the lack of systems to ensure sustainable stability, hence the government’s focus on ensuring such systems are put in place.

“I should note that Ghana has gone to the IMF for a program 17 times since independence and after each IMF program, the underlying system and structure of the economy remained the same,” Dr Bawumia said.

“It is important to note that the focus of economic management by successive governments since independence in Ghana has been on crisis management as a result of factors such as the collapse in commodity prices, increase in oil prices, debt unsustainability, political instability, macroeconomic instability, etc. Governments, have by and large, not focused on building systems and institutions that underpin economic activities in a modern economy.”

These modern systems for sustainable economic development, Dr Bawumia said, are: “the systems that will reduce bribery and corruption, the systems that will make the delivery of public services efficient, the systems that will enhance domestic revenue mobilization, and the systems that will make life generally easier for Ghanaians.”

The Vice President noted that since 2017, the government has been focused on building these systems, which include a biometric national identification card, a functioning digital property address system and an aggressive financial inclusion programme, digitisation of government services and many others, which he said, are enhancing services and making access easier, reducing corruption and strengthening domestic revenue mobilisation.

He, therefore, called for a renewed focus on building and strengthening these systems, alongside enhanced fiscal discipline, to ensure sustainable economic recovery after the latest, 17th IMF programme.

Source: Classfmonline.com

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Otto Insurance: Home and Property Protection

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Otto Insurance is a reliable option for consumers wishing to safeguard their homes, automobiles, and companies. Otto Insurance has been a popular choice in the United States insurance industry due to its extensive selection of insurance products and commitment to client satisfaction. When it comes to insurance, don't be afraid to look into what Otto Insurance has to offer and take steps to safeguard your possessions and your peace of mind.

Otto Insurance is a US-based insurance firm that provides a wide range of insurance services. Otto Insurance, with an emphasis on home and property protection, has been a popular solution for consumers seeking security and peace of mind in the case of property loss or damage. In this post, we will go over the services and benefits of Otto insurance, as well as how it may help you safeguard your house and belongings.

What is Otto Insurance?

Otto Insurance is a firm that provides a variety of insurance products such as homeowners, renters, business owners, and vehicle insurance. The organisation is committed to providing its clients with reasonable and dependable insurance solutions that safeguard them against loss and harm in all aspects of their lives.

Services Offered by Otto Insurance

  • Homeowners Insurance: One of Otto’s most noteworthy products is homeowners insurance. Coverage for your home’s structure as well as your personal items in the event of damage or loss caused by covered catastrophes including as fire, theft, flood, and more.
  • Renters Insurance: If you rent a house, Otto’s renters insurance can safeguard your personal possessions while also providing legal responsibility in the event of damage to the owner’s property.
  • Otto Insurance provides auto insurance to secure your vehicle and give coverage in the case of an accident, theft, or third-party damage.
  • Business Insurance: Otto provides business insurance for a number of risks, including liability, commercial property, and workers’ compensation.

Benefits of Choosing Otto Insurance

  • Coverage choices: Otto Insurance provides a comprehensive range of coverage choices that may be adapted to your unique requirements. You may select the level of protection that best matches your needs.
  • Personalised Attention: The organisation takes pleasure in offering excellent customer service. Their agents are accessible to answer your inquiries and explain your insurance products.
  • Affordable Quotes: Otto Insurance strives to provide affordable prices that meet your budget without sacrificing coverage quality.
  • Payment Flexibility: They provide various payment choices, allowing you to select the payment method that is most convenient for you.

How to Get Insurance with Otto

If you want to purchase insurance with Otto Insurance, you may start by visiting their official website or calling a local agent. The following are some general procedures to get an insurance coverage with Otto:

  • Consider your requirements: Determine the type of insurance you require and the amount of coverage you require.
  • Request a price online or contact an Otto representative for a personalised estimate.
  • Personalise your policy: Work with an agent to tailor your coverage to your exact requirements.
  • Accept the insurance: Once you’re pleased with the quotation and coverage, accept the policy and pay the applicable fee.

Maintain the following policies: Review your policy on a regular basis to verify that it is still relevant to your changing needs.

Conclusion

Otto Insurance is a reliable option for consumers wishing to safeguard their homes, automobiles, and companies. Otto Insurance has been a popular choice in the United States insurance industry due to its extensive selection of insurance products and commitment to client satisfaction. When it comes to insurance, don’t be afraid to look into what Otto Insurance has to offer and take steps to safeguard your possessions and your peace of mind.

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Paisano Insurance: A Comprehensive Guide

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Paisano Insurance is a reliable partner in acquiring insurance coverage that meets your specific needs. They provide a wide range of insurance products to protect your belongings, loved ones, and peace of mind, with a focus on choice, flexibility, and personalised service. Paisano Insurance is an excellent option for comprehensive, tailored, and reasonable insurance solutions for your insurance needs.

Paisano Insurance is a well-known insurance company in the United States that offers a wide range of insurance products and services to individuals and businesses. Paisano Insurance has a reputation in the insurance industry for providing tailored insurance solutions. In this lengthy piece, we will delve into the different services and features offered by Paisano Insurance, supporting you in understanding how it can protect your assets and provide financial security.

What is Paisano Insurance?

Paisano Insurance is an independent insurance agency that assists clients in obtaining the finest insurance coverage for their specific needs. As an independent agency, Paisano works with a variety of insurance providers to provide consumers with a variety of insurance options. Clients may compare coverage, price, and plans to find the best fit for their unique needs.

Services Offered by Paisano Insurance

  • Paisano Insurance offers auto insurance for vehicles such as cars, trucks, motorcycles, and recreational vehicles. Their coverage covers, among other things, liability insurance, collision insurance, and comprehensive insurance. Clients may tailor their insurance to meet their specific needs and budget.
  • Homeowners Insurance: Protecting your home is vital, and Paisano Insurance offers homeowners insurance policies that safeguard your property, and personal belongings, and provide liability coverage. They can help you locate the right coverage whether you own or rent a house.
  • Renters insurance is required if you are renting a home or flat to protect your personal items and provide liability coverage. Paisano Insurance offers renters insurance options tailored to their specific needs.
  • Paisano Insurance provides general liability insurance, business property insurance, commercial automobile insurance, and workers’ compensation coverage to company owners. These strategies help businesses prevent financial losses caused by unforeseeable events.
  • Life insurance is an important part of financial planning. Paisano Insurance can help consumers decide whether to get term or permanent life insurance to provide financial protection for their loved ones in the event of their death.

Benefits of Choosing Paisano Insurance

  • Paisano Insurance is an independent firm that offers a wide variety of insurance providers and products. This enables consumers to choose the coverage that best suits their needs and budget.
  • Paisano Insurance’s knowledgeable agents provide expert advice to consumers as they navigate the complex world of insurance. They can answer questions, provide recommendations, and assist you in making informed decisions.
  • Customised Solutions: Because each client’s insurance requirements are unique, Paisano Insurance specialises in developing solutions to meet those requirements. They look for the ideal match for you, whether it’s auto, home, business, or life insurance.
  • Paisano Insurance works hard to obtain competitive prices for its customers, allowing them to save money on insurance premiums without sacrificing coverage quality.

Getting Insurance with Paisano Insurance

Paisano Insurance makes it simple to acquire insurance:

  • Assess Your Needs: Determine the type and amount of coverage you require based on your circumstances and risk factors.
  • Request a quotation: Contact Paisano Insurance or visit their website to acquire a customised insurance quotation. Their representatives will produce a pricing for you if you supply the necessary details.
  • Compare and Choose: To make an informed decision, compare coverage options, prices, and terms from several insurance carriers.
  • Purchase Your Coverage: After deciding on the best insurance coverage for you, fill out the necessary paperwork and pay your first premium.
  • Regular Review: Check in with Paisano Insurance on a regular basis to confirm that your insurance policies are still meeting your changing needs.

Conclusion

Paisano Insurance is a reliable partner in acquiring insurance coverage that meets your specific needs. They provide a wide range of insurance products to protect your belongings, loved ones, and peace of mind, with a focus on choice, flexibility, and personalised service. Paisano Insurance is an excellent option for comprehensive, tailored, and reasonable insurance solutions for your insurance needs.

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Factors Influencing Your Car Insurance Premium

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A number of factors influence your vehicle insurance rate, many of which are within your control. Understanding these features will enable you to make more informed judgements about coverage and cost reduction. By having a solid driving record, shopping around for quotes, and taking advantage of any discounts, you may get the best auto insurance coverage to meet your needs at a price that matches your budget.

Car insurance rates are not uniform; they can vary substantially across people. Insurance companies use a number of factors when determining the cost of your vehicle insurance policy. Understanding these factors is crucial for receiving the best coverage at the best price. In this comprehensive essay, we will look at the primary factors that influence your vehicle insurance quote.

Driving Record

Your driving record has a significant impact on the cost of your vehicle insurance. Insurance companies look at prior accidents, driving violations, and claims history. A clean driving record with no accidents or violations often results in lower premiums; however, a history of accidents and penalties may result in higher rates.

Age and Gender

Age and gender are typically considered when deciding vehicle insurance prices. Drivers who are young and inexperienced, particularly men, pay higher rates since they are statistically more likely to be involved in an accident. Drivers’ rates tend to reduce as they gain experience and reach middle age.

Location

Your geographic location is a significant consideration when determining your auto insurance quote. Insurance prices are higher in regions with high crime rates, heavy traffic, or an accident history. Rural towns, on the other hand, often have lower premiums due to fewer accidents and lower crime rates.

Vehicle Type and Model

The brand, model, and year of your automobile have a direct impact on your insurance quote. High-performance vehicles, premium vehicles, and newer models generally cost more to insure due to higher repair expenses and theft rates. Safety features and the vehicle’s safety record can have an impact on rates.

Usage of the Vehicle

The way you drive may have an impact on your insurance price. Cars used for frequent commuting or commercial purposes often have higher premiums than cars used for pleasure or on occasion. Mileage and the length of your daily journey are other crucial factors to consider.

Coverage and Deductibles

The kind and level of coverage you choose has a significant impact on your rate. Insurance with higher coverage limits and additional features (such as comprehensive and collision coverage) will cost extra. A higher deductible can lower your premium, but it also means you’ll have to pay more out of pocket if you file a claim.

Credit Score

In certain states, insurance companies use your credit score to determine your rate. A good credit score may result in lower rates, whilst a poor credit history may result in higher rates.

Marital Status

When compared to single drivers, married folks often pay less for insurance. According to studies, married persons are less likely to engage in risky driving practices.

Driving Experience

Your driving history may have an impact on your premium. New drivers frequently pay higher rates, although experienced drivers may be eligible for discounts.

Claims History

Your insurance rate may rise if you have a history of submitting repeated claims. Insurance companies perceive frequent claims to be a greater risk.

Discounts and Bundling

Insurance companies typically provide discounts for a variety of reasons, including having multiple policies with the same company (bundling), completing driver safety classes, maintaining a clean driving record, and putting anti-theft technology in your car.

Occupation and Education

Some insurers evaluate your work and education level when calculating rates. Lower rates may be associated with certain vocations and levels of education.

What element has the greatest influence on insurance premiums?

The individual’s driving record is often the most influential element in insurance prices. Your driving record, including accidents, traffic tickets, and claims, has a substantial influence on the amount of vehicle insurance you pay. Insurance companies evaluate your risk as a policyholder based on your driving record.

Here’s why your driving record is so important:

  • Risk Assessment: Insurance companies utilise previous data to determine your chances of being involved in future accidents or submitting claims. A clean driving record with no accidents or infractions indicates a reduced risk, which translates to cheaper rates. A history of accidents, traffic fines, or claims, on the other hand, indicates a higher risk and may result in higher insurance premiums.
  • Data consistently demonstrate that drivers having a history of accidents or traffic offences are more likely to be involved in future incidents. Insurance firms base their premium rates on this information.
  • Legal Requirements: Your driving record is particularly important since insurance firms are frequently legally required to examine your prior driving conduct when setting premiums. set accidents or infractions, for example, may remain on your record for a set number of years, and insurers are compelled to consider them.

While your driving record is a major influence on insurance costs, other factors such as your age, location, car type, and policy selections also play key roles. Insurance companies use a mix of these criteria to measure risk and calculate your premium. As a result, keeping a clean driving record is one of the most efficient strategies to keep your insurance prices low.

Conclusion

A number of factors influence your vehicle insurance rate, many of which are within your control. Understanding these features will enable you to make more informed judgements about coverage and cost reduction. By having a solid driving record, shopping around for quotes, and taking advantage of any discounts, you may get the best auto insurance coverage to meet your needs at a price that matches your budget.

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