APA – Accra (Ghana)
President Nana Addo Dankwa Akufo-Addo’s optimism that the country will conclude an agreement with the International Monetary Fund (IMF) by the close of this month in view of the cooperation being received from the Paris Club and China over debt relief is one of the leading stories in the Ghanaian press on Thursday.
The Graphic reports that President Nana Addo Dankwa Akufo-Addo has expressed optimism that the country will conclude an agreement with the International Monetary Fund (IMF) by the close of this month in view of the cooperation being received from the Paris Club and China over debt relief.
He said a delegation from the China EXIM Bank was in Accra at the weekend to meet with officials of the Ministry of Finance, adding “we shall be able to go to the board of the fund to conclude a final agreement by the end of March”.
According to the President, the agreement would set the stage for a strong recovery of the economy.
Addressing the diplomatic corps at a Presidential retreat at the Peduase Lodge on the Aburi Hills in the Eastern Region last Monday night, the President said his confidence was strengthened by the fact that “we managed to get the staff level agreement in record time in December last year, whose terms we are systematically fulfilling, including the difficult but ultimately highly successful process of the domestic debt exchange programme”.
The annual event, which was organised by the Ministry of Foreign Affairs and Regional Integration, offered the diplomatic community and the leaders of accredited representatives of international organisations the opportunity to exchange pleasantries, interact with each other and firm up existing bonds of friendship and cooperation with the country.
The President also expressed the hope that the challenges facing Nigeria after its general election will be resolved peacefully in accordance with due process to allow the will of the people to prevail.
That, he explained, was necessary because events in Nigeria impacted democracy in West Africa and the continent of Africa.
President Akufo-Addo extended solidarity of the people and the nation to the “brotherly people of our great neighbour. We wish them the best of luck and God’s blessings”.
The newspaper says that the Ghana Health Service (GHS) has said that 12 more cases of Lassa Fever have been recorded in Ghana.
The cases were revealed after the GHS traced 56 contacts of the initial two cases confirmed on Sunday, February 26, 2023.
The active cases of Lassa Fever in Ghana now stands at 13.
One person has so far died from the disease.
“This brings to 14 the total number of confirmed cases for the outbreak… One death has so far been recorded. All 13 cases are alive and in stable condition and are being managed in designated health facilities. A total of 97 contacts have been identified and efforts are underway to identify more contacts,” a statement dated February 28, 2023, and signed by Director General of GHS, Dr Patrick Kuma-Aboagye said.
He added that “a probable case has been reported from Central Region and contacts are being identified and monitored while we await confirmation. Psychological support is being provided for all cases and contacts.”
Lassa fever is an Acute Viral Haemorrhagic Fever illness which is endemic in West Africa. The incubation period is 6-21 days. The onset of LF illness is often gradual, with non-specific signs and symptoms and commonly presents with fever, general weakness and malaise at the early onset.
The Ghanaian Times reports that West Africa needs political commitment at the highest level for the successful launch and roll out of the proposed single currency, the Ghana International Trade and Finance Conference (GITFiC) has said.
It said the postponement of the launch of ECO the currency, was a sign of Economic Community of West African States (ECOWAS) leaders’ feeble political will towards the economically beneficial move.
This is a recommendation made by GITFiC’s Lead-Research Fellow (Policy and Advocate), Gerald Ekow Woode, in a research entitled “The Next Wave: Africa’s Single Currency” and copied to the Ghanaian Times, yesterday.
It said; “In order to advance the goal of a single currency within a realistic timeframe, it is necessary to establish strong political will that would motivate concrete reforms and policy frameworks.
“To share expertise, align policies, and increase capacity for a currency union, there is a need for close coordination between domestic institutions (such as central banks) and regional bodies like the West African Monetary Institute.”
The ECOWAS, since its conception in 2003, has postponed the launch of a single currency at least four times: in 2005, 2014 and 2020 for various reasons.
The 2020 postponement was blamed on the COVID-19 pandemic and the failure of many countries to meet the criteria for the 2027 launch including curbing inflation, budget deficits, financing, reserves and exchange rate stability.
The GITFiC research aimed to contribute to examine West Africa’s benefit from the move as well as emphasise the significance of taking a regional strategy to solving West Africa’s monetary problems.
The newspaper says that the Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has encouraged banks to take gender inclusive financing more seriously to help close the widening access to finance gap.
He said designing customised products for women entrepreneurs would not only help more women to expand and sustain their businesses but would enable them to contribute to the country’s economic growth.
This was contained in a speech read on his behalf by the Second Deputy Governor, Elsie Awadzi, at the opening of the Affirmative Finance Action for Women in Africa (AFAWA) Finance Series, Ghana.
AFAWA is an initiative of the African Development Bank Group (AfDB) which aims to reduce estimated $42 billion financing gap that affects women on the continent and unlock $5billion in financing for small and medium-sized enterprises (SMEs) owned and managed by women by 2026.
The Finance Series aims to introduce African Finance Ministers, central bank Governors, financial regulatory Bodies and financial institutions and other stakeholders to partnerships that seeks to increase financial inclusion for women-led enterprises.
The Ghana edition, the first in West Africa and the third since its inception three years ago is being organised by the AfDB, the African Guaranteed Fund (AGF) and the Ghana Bankers Association (GBA) to intensify efforts to close the widening financing gap through capacity building sessions.
Dr Addison said closing the gap was crucial because the global financial report 2021 states that Global Gender Gap in access to financial services had declined from nine per cent in 2011 to six per cent in 2021, meaning about 745 million women in the developing world still lack access to financial services.
In Sub Saharan Africa, he said, the gap was 12 per cent, while the gap for Ghana, as reported by the World Bank for the same period, was 11 per cent, an indication that the situation was worse.
As a member of the alliance for Financial Inclusion, he said the BoG, had put in place regulations to encourage support to women entrepreneurs and would work with stakeholders to help achieve the target.
The Minister of Gender, Children and Social Protection, Ms Lariba Abudu, in a speech read on her behalf said although, the government was rolling out initiatives to empower women financially, including access to loans and other assistance, support from other stakeholders would help boost efforts.
“Research has shown that when women have access to finance, they invest in real families, communities and businesses, leading to increase productivity and sustainable economic growth,” she said.
GIK/APA
Press spotlights President’s optimism that IMF deal will be concluded this month, others
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