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Your ‘Mickey Mouse’ debt restructuring will hurt Ghana – Ato Forson to gov’t

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The Minority spokesperson on Finance, Cassiel Ato Forson, has taken a swipe at President Nana Addo Dankwa Akufo-Addo and his economic management team as the government works to restructure the country’s debt.

Describing the move as a “Mickey Mouse” one, Ato Forson warned that the way and manner government wants to go about the debt restructuring will hurt Ghanaians.

“Mr. President, please beware that, a Mickey Mouse form of debt restructuring will hurt Ghana big time. Your debt restructuring must not target domestic creditors. It will destroy us,” he said at an event dubbed Building the Ghana We Want.

The public debt stock as of July 2022 was almost GH¢400 billion. Ghana currently cannot borrow on the internal markets as creditors doubt if the country could service its debts.

Ghana is currently seeking $3 billion in support from the International Monetary Fund (IMF) amid worsening economic conditions.

There are reports that government is seeking to give its domestic debts a haircut, which could even affect some pension funds.

“The truth is, Ghana cannot currently afford to repay its debt according to the finance agreement and provide public goods at the same time. Ghana is simply insolvent, in other words bankrupt.”

Ato Forson said Ghana is in a deep mess because the managers of the economy failed to act.

“For them, everything is about the next elections, they never accept responsibility. They always say, ‘it wasn’t me, it was the guy behind the tree.’ They live on another planet, and don’t appreciate what the IMF will require from them, let alone start action. The ineptitude is unbelievable.”

The legislator believes Ghana will require a debt relief of around GH¢200 billion to make Ghana’s current debt sustainable.

Ato Forson believes the Ghanaian economy is suffering from “Sovereign Insolvency Stress and Stagflation, Coupled with Acute Debt Overhang Syndrome (SIS-SADOSES).”

 

 

 

 

 

 

The post Your ‘Mickey Mouse’ debt restructuring will hurt Ghana – Ato Forson to gov’t appeared first on Citinewsroom – Comprehensive News in Ghana.

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Good news for teachers: 1 teacher, 1 laptop

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His remarks came after the Ghana National Association of Teachers (GNAT) expressed reservations about the Ghana Smart School Project, which debuted on Monday, March 25, 2024. According to GNAT, since 2021, when the government launched a similar scheme for teachers dubbed as the "1 Teacher 1 Laptop" project, over 100,000 instructors in public schools have yet to receive theirs. However, Dr. Adutwum, a teacher himself, told teachers that his Ministry has their best interests at heart and will never fail them. He indicated categorically that the instructors will receive their computers by the end of June.

Teachers in public schools will receive the laptops promised by the government in 2021 by the end of June 2024.

Dr Yaw Osei Adutwum, Minister of Education, said this on Adom FM’s morning broadcast, Dwaso Nsem, on Tuesday.

“I can tell you that the instructors will receive their computers by the end of June, as promised. They’ve already met with the Ghana Education Service (GES) and are figuring out how to get their laptops,” he said.

His remarks came after the Ghana National Association of Teachers (GNAT) expressed reservations about the Ghana Smart School Project, which debuted on Monday, March 25, 2024.

According to GNAT, since 2021, when the government launched a similar scheme for teachers dubbed the “1 Teacher 1 Laptop” project, over 100,000 instructors in public schools have yet to receive theirs.

However, Dr. Adutwum, a teacher himself, told teachers that his Ministry has their best interests at heart and will never fail them.

He indicated categorically that the instructors will receive their computers by the end of June.

Speaking about the Ghana Smart School Project, Dr. Adutwum emphasised its significance as a component of the Free Senior High School (SHS) programme, which aims to improve the quality of teaching and learning in public second-cycle schools.

He stated that these tablets, packed with necessary textbooks and previous questions, will be great instructional aids, improving students’ access to information critical to their academic endeavours.

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Create your own ‘dumsor’ timetable – Energy minister to critics

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However, speaking to media at the launching of the NPP campaign team in the Ashanti Region, Dr. Opoku Prempeh urged detractors to create their own timeline if required. He questioned the point of defining a timeline since ECG said that there is no such strategy in place. "Ask those who desire it to bring it, if any. I have not seen any timeline. The ECG claims there is no timeline coming; why do you wish to bring one, and for what purpose? Why would someone wake up and want wicked and awful things for the country? You can't inform the individual when it's unplanned."

Energy Minister Dr. Matthew Opoku Prempeh has challenged those lobbying for a load-shedding timeline from the Electricity Company of Ghana (ECG) to submit their own proposals.

His statements came amid the country’s current electricity issues, particularly in the Greater Accra Region, which affect both residents and companies.

Despite rising calls for a systematic load-shedding plan, ECG has maintained its opposition to creating one, citing the lack of a formal “dumsor” scenario and so judging a timetable unnecessary.

The opposition National Democratic Congress (NDC) and numerous important personalities have repeatedly urged ECG to give a timeframe. They also urged the ruling New Patriotic Party (NPP) to address the present power situation.

However, speaking to the media at the launching of the NPP campaign team in the Ashanti Region, Dr Opoku Prempeh urged detractors to create their own timeline if required.

He questioned the point of defining a timeline since ECG said that there is no such strategy in place.

“Ask those who desire it to bring it, if any. I have not seen any timeline. The ECG claims there is no timeline coming; why do you wish to bring one, and for what purpose? Why would someone wake up and want wicked and awful things for the country? You can’t inform the individual when it’s unplanned.”

Dr. Opoku Prempeh told the public that measures are underway to solve the difficulties facing the electricity industry.

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Deputy CHRAJ Commissioner reported dead

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Mr Quayson was appointed Deputy Commissioner of the Commission in August 2005, overseeing the Commission's anti-corruption duty, as well as public education and research. He joined the Commission as a senior legal officer in 1993, having previously served as a legal officer at CHRAJ's predecessor organisation, the Office of the Ombudsman, from 1987 to 1993. He was the Western and Central Regions' regional director prior to his appointment as Deputy Commissioner. He also headed the National Working Group that established Ghana's National Anti-Corruption Action Plan (NACAP) and served on the Commission that oversees its implementation.

The Commission on Human Rights and Administrative Justice (CHRAJ) has confirmed the death of Richard Ackom Quayson, its Deputy Commissioner.

Mr Henry Ashley, the Director of Human Resources and Administration, signed a notification on behalf of the Commissioner on March 22, 2024, announcing the death.

The letter, which was sent to the GNA, read: “It is with a heavy heart that we inform members of staff of the death of our Deputy Commissioner (APR), Mr Richard Ackom Quayson, who passed away unexpectedly on the 21st of March 2024, after a short illness.”

Mr Quayson was appointed Deputy Commissioner of the Commission in August 2005, overseeing the Commission’s anti-corruption duty, as well as public education and research.

He joined the Commission as a senior legal officer in 1993, having previously served as a legal officer at CHRAJ’s predecessor organisation, the Office of the Ombudsman, from 1987 to 1993.

He was the Western and Central Regions’ regional director prior to his appointment as Deputy Commissioner.

He also headed the National Working Group that established Ghana’s National Anti-Corruption Action Plan (NACAP) and served on the Commission that oversees its implementation.

He was a lawyer by profession, specialising in human rights promotion and protection, administrative justice, and corruption prevention and investigation.

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