The appeal by President Nana Akufo-Addo to manufacturers, traders and transport operators who increased the prices of goods and services at the height of the cedis’ depreciation to reduce them now that the cedi is regaining its strength dominates the headlines of Ghanaian press on Monday.
The Graphic reports that President Nana Addo Dankwa Akufo-Addo has appealed to manufacturers, traders and transport operators who increased the prices of goods and services at the height of the cedis’ depreciation to reduce them now that the cedi is regaining its strength.
He urged Ghanaians to join the clarion call for price reduction, which he said was not only fair but also a just one, so that Ghanaians could have a more pleasant Christmas.
The President made the call at a thanksgiving service to mark the year-long celebration of the 100th anniversary of the Ga Presbytery of the Presbyterian Church of Ghana (PCG) at the Independence Square in Accra on Sunday.
President Akufo-Addo, who traced the role of both his maternal and paternal grandparents in the formation and growth of the Presbyterian Church in the country, joined in cutting the centenary cake and also donated GHc100,000 to the church.
The anniversary was on the theme: “Grateful for our heritage: Forging ahead in unity and faith.”
The congregation, dressed in their centenary attire, filled both the stands and the inner perimeter of the iconic square.
Touching on the policies that had led to the gains by the cedi, the President said the feat had not happened by chance but through the implementation of deliberate policies by the government, in collaboration with the Bank of Ghana (BoG).
These included cedi liquidity tightening measures, resulting in the offloading of forex as a store of value by speculators, the improvement of forex inflows from remittances and the mining sector and the reaching of a staff level agreement with the International Monetary Fund (IMF) for a $3-billion package.
He explained that all those had combined bring the cedi to an improved position and gave an assurance that the government would continue to work hard to maintain and sustain the gains made.
The newspaper says that the expiration date for the Domestic Debt Exchange Programme has been extended to December 30, 2022, the Ministry of Finance has announced.
In a press statement issued last Friday, December 16, 2022, the ministry explained that over the last ten days, it continued the consultation efforts that was initiated with all stakeholders ahead of the launching of the offer, including regulators, bankers, pension funds, asset managers, insurance companies.
It noted that on 6th December 2022 our domestic debt operation (which we formally refer to as the Invitation to Exchange) was launched.
“Over the last 10 days, we continued the consultation efforts that we initiated with all stakeholders ahead of the launching of the offer, including regulators, bankers, pension funds, asset managers, insurance companies etc.
“Complementing the efforts on the structure of the offer, we are working with the Bank of Ghana and other regulators (SEC, NPRA, and NIC) in the financial sector and our Advisors and including input from various institutions and the Unions.
“We also fully considered feedback from the financial sector in relation to the need to secure internal and Executive Board approvals which are necessary considerations for their participation in the Exchange. This in some instances may require emergency board meetings etc. The extension also affords Government of Ghana the opportunity to consider suggestions made by all Stakeholders with the aim of adjusting certain measures acceptable within the constraints of the Debt Sustainability Analysis
“Considering these developments, and taking cognizance of the festive season, we have decided to extend the Expiration Date of the voluntary offer to Friday December 30th, 2022, with a contemplated settlement date on Friday January 6th, 2023.
“This extension comes on the heels of the announcement of a Staff Level Agreement (SLA) with the IMF on 13th December 2022.
“We believe this extension will provide enough time for the necessary consultations and analysis to be completed to meet the expectations of local and foreign institutional bondholders while preserving the integrity of the Debt Sustainability Analysis and the Staff Level Agreement,” the statement said.
The Graphic also reports that the Ghana Health Service (GHS) has cautioned the public to observe COVID-19 protocols during the festive season as many countries from where people visit Ghana are experiencing surges.
According to the GHS there is high risk in contracting and spreading the virus during the festive season and therefore people should protect themselves during the period.
At a press briefing on Sunday morning, December 18, 2022, to update the public on the COVID-19 virus, the Director General of the GHS, Dr Patrick Kuma-Aboagye said Ghana currently has four active cases of the virus as of Friday, December 16, 2022.
But that is not to mean that there is no risk of the disease, “but let us not be complacent with the four, we started with two [in 2020], so you never know how it goes.”
“We [currently] don’t have any severe cases and we don’t have any critical cases in our facilities,” Dr Kuma-Aboagye said.
The COVID-19 virus has been around for the past three years and even though the numbers are down in Ghana, it is up in some other countries.
It is unclear when the pandemic will end.
Ghana has seen a very significant decline in the last three months with a low active number of cases.
Ghana has not recorded any deaths for a while now.
GIK/APA