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Ghana-IMF $3bn deal to be finalised before end of year

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Ghana-IMF $3bn deal to be finalised before end of year

According to Kristalina Georgieva, the Managing Director of the International Monetary Fund, an agreement between Ghana and the IMF should be negotiated and signed before the year is through.According to Kristalina Georgieva, the Managing Director of the International Monetary Fund, an agreement between Ghana and the IMF should be negotiated and signed before the year is through.

The IMF chief assured President Akufo-Addo in a private discussion on Monday, September 5, 2022, outside the Africa Adaptation Summit in Rotterdam, Netherlands, “we recognize the urgency, and we will move as swiftly as possible.”The IMF chief assured President Akufo-Addo in a private discussion on Monday, September 5, 2022, outside the Africa Adaptation Summit in Rotterdam, Netherlands, “we recognize the urgency, and we will move as swiftly as possible.”

She referred to Ghana as a “superb country” and reaffirmed the Fund’s commitment to working with the government and the ministry of finance to secure a deal before the year’s end.

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The paper that will be provided by the Ghanaian side is “ready for the examination of the IMF,” according to President Akufo-Addo, who also told the IMF director that the Cabinet and the Ministry of Finance had put a lot of work into it.

However, Kristalina Georgieva has underlined that external shocks rather than domestic factors are to blame for Ghana’s current economic difficulties.

Speaking outside of the Fund’s meetings with the Ghanaian team, Kristalina Georgieva said that, in contrast to the opposition narrative that Ghana’s problems are the result of the Akufo-Addo administration’s poor policies, the IMF chief said that the causes are exogenous.Speaking outside of the Fund’s meetings with the Ghanaian team, Kristalina Georgieva said that, in contrast to the opposition narrative that Ghana’s problems are the result of the Akufo-Addo administration’s poor policies, the IMF chief said that the causes are exogenous.

We have started very constructive discussions already and to the people of Ghana, like everybody on this planet, you have been hurt by exogenous shocks,” she said.

She discussed the unrelated variables that have exacerbated Ghana’s economic problems and caused the West African nation to request an IMF program.

“The epidemic came first, then Russia’s conflict in Ukraine. We must understand that this mix of shocks, rather than poor national policy, is to blame, and we must support Ghana as a result, she said.

 

She added that because Ghana is a member of the IMF and is “a powerful country with great people,” the Fund is obligated to provide aid to the nation.

 

Additionally, Madam Kristalina Georgieva said, “We must help Ghana since its strength strengthens its neighbors’ and strengthens the entire world.”

To help the country get through the harsh economic dilemma it is in as a result of the negative impacts of the fatal coronavirus outbreak and the ongoing conflict between Russia and Ukraine, Ghana is asking the IMF for US$3 billion.

In some instances, President Akufo-Addo has said, “We have decided to seek the collaboration of the International Monetary Fund (IMF) to repair, in the short term, our public finances, which have suffered significantly as a result, while we continue to work on the medium- to long-term structural changes that are at the core of our goal of creating a Ghana Beyond Aid, that is building a resilient, robust Ghanaian economy.”

 

Source: Jubilee House Communications Directorate

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EDUCATION

Apateim Methodist Basic School Receives Learning Materials From The Shidaa Foundation

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The Shidaa Foundation led by Canada-based Ghanaian entrepreneur and philanthropist, Mr. Roland Akwensivie has donated learning materials to Apateim Methodist Basic School in the Nzema East Municipal in the Western region.

On Tuesday, November 7, 2023, the foundation donated an electric wheelchair, reading books, pens, pencils, erasers, highlighters, binders, colored pencils and crayons, calculators, mathematical sets, and school bags.

In an interview with Wyse Brain of Wyse Promotions, Mr Roland Akwensivie disclosed the reasons why he chose Apateim for this particular donation.

“Apateim was identified as an area with a significant need for educational support. This was based on factors such as economic conditions, access to educational resources, and the number of underserved children in the community. The foundation identified Apateim as an area where the donations would have the most impact”, he said.

He also appealed to the general public to support the Shidaa Foundation.

“The Shidaa Foundation welcomes support from individuals and organizations to help advance its mission of empowering underserved youth and improving education. Contributions can take various forms including donations, in-kind donations, volunteering, partnerships, advocacy, sponsorship, and community engagement”, he added.


The mission of The Shidaa Foundation is to advance education and empower underserved youth to reach their full potential. The foundation is dedicated to providing educational support, resources, and opportunities to children in need, ensuring that they have the tools to succeed in their academic journeys.

The vision of The Shidaa Foundation is to create a brighter future by making education accessible and igniting hope in underserved communities. The foundation aspires to touch the lives of as many children as possible, kindling their love for learning and providing them with the necessary tools to succeed. It envisions a world where education is a transformative force, breaking down barriers and empowering youth to realize their dreams.

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GENERAL NEWS

Poor Sanitation In Winneba Calls For Major Concern

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In recent times, a significant health risk has emerged in Winneba due to inadequate sanitation practices. Winneba, a town and the capital of the Efutu Municipality in the Central Region of Ghana, is home to a population of 55,331 individuals who are grappling with the adverse effects of subpar sanitation conditions. The availability of safe drinking water and proper sanitation facilities have become a pressing concern. Presently, Winneba is contending with a marked decline in environmental sanitation, notably in areas like Akosua village, Eyipey, Sankor, and Sekegyano.

The poor state of sanitation in Winneba can be attributed to several underlying factors. Firstly, the absence of adequate sanitation facilities, including proper toilets and latrines, in both rural and urban areas is a matter of significant concern that requires immediate attention and resolution. The dearth of toilet facilities in Winneba has precipitated open defecation practices and contributed to substandard environmental hygiene. The consequences of open defecation, when combined with soil, lead to environmental pollution, water contamination, and, consequently, an elevated risk of diseases and fatalities.

Economically, the annual losses incurred due to poor sanitation amount to a range between 1% and 2.5% of the Gross Domestic Product (GDP). It is essential to recognize that the actual cost could potentially surpass these estimates, as they encompass only the losses linked to premature mortality, healthcare expenditures, diminished productivity, and time wasted due to the practice of open defecation.

Secondly, the improper disposal of solid waste has inflicted severe damage on the local environment. The littering of materials in the streets, lanes, and gutters has precipitated a sanitation crisis in Winneba. This habit of indiscriminate littering have adversely impacted the lives of the residents. The absence of effective waste disposal planning at the grassroots level, the inadequacy of policy implementation, and the lack of awareness are formidable obstacles to the improvement of sanitation standards.

Furthermore, the rapid surge in Winneba’s population has placed an overwhelming strain on the existing sanitation infrastructure. The increasing number of households and schools lack the necessary facilities to manage their sanitation needs. Consequently, both adults and children endure the consequences of inadequate sanitation provisions.

To address these challenges, a multifaceted approach is imperative. Initiatives must be launched to stimulate the demand for sanitation services. This entails the implementation of measures by those in authority to employ individuals tasked with cleaning the environment to foster a healthy and hygienic sanitation ecosystem. Additionally, the adoption of pit latrines, where human waste is collected in pits beneath toilets and left to decompose, along with the utilization of bio-toilets or waterless toilets, offers sustainable solutions that conserve water resources while advancing sanitation objectives.

Moreover, the provision of strategically placed dustbins in various towns and beaches, such as Eyipey, Sekegyano, Akosua Village, Sankor, Sir Charles Beach, Royal Beach, and Warabeba Beach, is crucial for effective waste management.

In conclusion, the promotion of sound sanitation behavior is paramount to ensuring the well-being of Winneba’s residents. Nevertheless, it is essential to emphasize the importance of consistently practicing good sanitation principles and policies to effect lasting change and safeguard public health.

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