• About us
  • One FM
  • Contact us
  • Terms and Conditions
  • Disclaimer
Saturday, April 10, 2021
  • Login
  • National
    • All
    • Announcement
    • Crime & Punishment
    • Education
    • Health
    • Local News
    • Obituary
    • Religious

    How Atta Kyea fled to UK to avoid being enstooled as Okyenhene

    ICGC Crossover Service to be held virtually

    ICGC Crossover Service to be held virtually

    Prez Akufo-Addo meets cabinet Wednesday on possible re-opening of schools

    Prez Akufo-Addo meets cabinet Wednesday on possible re-opening of schools

    Gedo, 37, stoned to death for stealing cat in Tema

    Gedo, 37, stoned to death for stealing cat in Tema

    VIDEO: Fire outbreak at the main Kantamanto Market

    VIDEO: Fire outbreak at the main Kantamanto Market

    Ghana’s ex-President J.J. Rawlings is dead

    GNS Foundation donates to Korle Bu Sickle Cell Clinic

    WAEC releases time table for 2020 BECE

    President Nana Akufo-Addo

    President Akufo-Addo begins three-day tour of Northern, North East and Savanna Regions

    Trending Tags

    • Politics
      • All
      • Election Hub
      • Parliament
      • Politics
      • The Ministry
      https://onefmonline.com/wp-content/uploads/2021/02/KOKU.jpg

      Asiedu Nketia betrayed me, God will punish him – Koku Anyidoho

      Joe Osei Owusu, Fomena MP selected 1st and 2nd Deputy Speakers of Parliament

      Joe Osei Owusu, Fomena MP selected 1st and 2nd Deputy Speakers of Parliament

      Alban Bagbin sworn in as new Speaker of Parliament

      Alban Bagbin sworn in as new Speaker of Parliament

      Former President and Flagbearer of NDC, John Dramani Mahama

      I won’t disturb the peace of Ghana – Mahama

      Declare 2020 poll results null and void – Mahama to Supreme Court

      Declare 2020 poll results null and void – Mahama to Supreme Court

      [Full Document] John Mahama’s petition to the Supreme Court

      [Full Document] John Mahama’s petition to the Supreme Court

      2020 Election results: NDC officially heads to Supreme Court

      2020 Election results: NDC officially heads to Supreme Court

      Jean Mensa, Chairperson of the Electoral Commission

      Over 11m Ghanaians have registered so far – EC

      Mahama to outdoor Prof. Opoku-Agyemang as running mate today

      Trending Tags

      • Business
        • All
        • Agriculture & Mining
        • Banking & Finance
        • Economy & Investment
        • Energy & Power
        • Oil & Gas
        • Telecommunication
        • Trade & Forex Exchange
        CBG rewards top fans on social media

        CBG rewards top fans on social media

        Vodafone introduces Smart Home Devices

        Vodafone introduces Smart Home Devices

        TC’s Energy, Power China sign agreement to revive Ada Foah wave energy project

        Contractors engaged by PDS demand payment for finished projects

        Kasapreko launches Puma Drinks with Metro Mass Transit

        Vodafone Ghana replaces copper installations with fibre infrastructure to boost speed

        46 workers at BOST test positive for COVID-19

        Angela Mensah-Poku, Director of Commercial and Digital Transformation

        Vodafone’s digital channels redefine customer engagement during COVID-19 and beyond

        The Vice President, Dr. Mahamudu Bawumia

        Ghana’s economy will recover quickly after COVID-19 pandemic – Bawumia

        Trending Tags

        • World
          • All
          • Asia Pacific
          • Europe
          • International
          • Latin America
          • UK & Ireland
          • US & Canada
          Nancy Pelosi arrives at the US Capitol for a veto override vote on the National Defense Authorization Act (NDAA) Photograph: REX/Shutterstock

          House Republicans join with Democrats to override Trump’s veto of defence bill

          Electoral college confirms Joe Biden’s presidential victory

          Electoral college confirms Joe Biden’s presidential victory

          American rapper and billionaire Kanye West and President of US Donald Trump

          Kanye West says he is running for US president

          US: George Floyd protests marred by lootings, fire

          Coronavirus: US unemployment claims hit 33.3 million amid virus

          COVID-19: Bank of England warns of biggest economic recession to hit UK

          Boris Johnson and his fiancee Carrie Symonds

          Boris Johnson and Carrie Symonds name baby son Wilfred Lawrie Nicholas

          US President Donald Trump

          US approves drug for coronavirus treatment

          Kim Jong-un appears in public – state media

          Trending Tags

          • Art & Culture
            • All
            • Celebrity
            • ChristianGist
            • Creative Arts
            • Event
            • Hook with Kesse
            • Hot Gossip
            • Movies & Trailers
            • Music
            • People & Art
            • Radio & TV
            • SMT
            • Tourism & Culture
            • Video

            #NEWMUSIC: Tee Rhyme – This Year (Prod. by Kendibeat & Video by SamArmStrong)

            Ghana & OM Studios Kwame Frimpong appointed member of Africa HipHop Awards

            #NEWMUSIC: DJ Wyse features Bless on ‘Angelina’

            #EasterWeekendMagic: Kaya Tours 1-day unforgettable life experiential at Akosombo (PHOTOS)

            #EasterWeekendMagic: Kaya Tours 1-day unforgettable life experiential at Akosombo (PHOTOS)

            Gospel star Piesie Esther flaunts spotless beauty in photo

            PHOTOS: Gospel star Piesie Esther flaunts spotless beauty in photo

            Gyakie
January 23rd, 2020
Photo: Julius Tornyi / @commonjuls 2020

            Gyakie inks juicy deal with Sony Music and RCA UK

            E.L announces new album ‘’WAVS’’ dropping on March 19

            Ghanaian musician E.L announces new album ‘WAVs’ dropping on March 19

            PHOTOS: Meet Lady Rita Opoku, a Germany-based Ghanaian gospel musician to storm the industry with ‘ADOM’

            PHOTOS: Meet Lady Rita Opoku, a Germany-based Ghanaian gospel musician to storm the industry with ‘ADOM’

            “I support LGBTQI, you are not God to Judge." – singer Rootikal Swagger throws his support for LGBTQI

            “I support LGBTQI, you are not God to Judge.” – singer Rootikal Swagger throws his support for LGBTQI

            Trending Tags

            • Africa
              • All
              • Congo
              • Egypt
              • Inside Africa
              • Ivory Coast
              • Kenya
              • Libya
              • Nigeria
              • Rwanda
              • South Africa
              • Uganda
              President Muhammadu Buhari

              Nigeria’s COVID-19 cases exceed 40,000, death toll hits 858

              President Muhammadu Buhari

              Nigeria president suspends anti-corruption boss

              Minister of Education, Adamu Adamu

              COVID-19: Nigeria reverses resumption of schools; cancels WAEC exams

              Madagascar to send troops to town where two died of Coronavirus

              Coronavirus in South Africa: President Ramaphosa says outbreak will get worse

              Africa records over 88,000 Coronavirus cases

              Nigeria Aviation Minister Hadi Sirika

              Nigeria impounds British plane for breaking Coronavirus flight ban rules

              Madagascar President intensifies call for use of supposed COVID-19 cure after death of Malagasy

              Uganda president blasts MPs for allocating $2.6m to themselves for coronavirus sensitisation

              Trending Tags

              • Sports
                • Athletics
                • Football
                • AFCON
                • Premier League
                • FIFA WorldCup
                • Livescore
                • Boxing
                • Tennis
              • Lifestyle
                • All
                • Family & Parenting
                • Food & Drink
                • Health & Fitness
                • Love & Relationship
                • Recipes
                • Travel
                #EasterWeekendMagic: Kaya Tours 1-day unforgettable life experiential at Akosombo (PHOTOS)

                #EasterWeekendMagic: Kaya Tours 1-day unforgettable life experiential at Akosombo (PHOTOS)

                Abeiku Santana, FNB Bank and others join WWII Veteran Joseph Hammond on his Last Walk

                Kasapreko launches Puma Drinks with Metro Mass Transit

                Nana Kesse writes; Is Marriage A Prison? – See others shared their thoughts

                Old married men not worth your time – Stephanie Benson to girls

                Sriracha Bacon Fried Rice Balls

                Scalloped Potato Roll

                The Potential impact of Covid-19 pandemic on food security in Ghana

                7 signs your girlfriend doesn’t regard you enough

                Trending Tags

                • Kasapreko Alomo Bitters
                • Gym
              • G & G
                • All
                • Birthday Party
                • Fashion & Beauty
                • Pageant & Reality Show
                • Wedding
                Gospel star Piesie Esther flaunts spotless beauty in photo

                PHOTOS: Gospel star Piesie Esther flaunts spotless beauty in photo

                COVID-19: ‘Breathless’ photos of Nana Akua Addo show she’s Ghana’s fashion goddess

                [PHOTOS] Celebrities join ‘masking for a friend’ campaign

                John Dumelo and his wife, Gifty Mawunya Nkornu

                John Dumelo, wife celebrate one year of marriage

                [PHOTOS] Larry Jay presents the SS20, ZONGO lookbook

                Ghanaian Traveler, Ama Peters

                #BikiniBae: The Haute Sultry Images Of Stunning Ghanaian Traveler, Ama Peters

                Trending Tags

                • Fashion Week
                • Accra Mall Fashion Weekend
                • Heels and Muscles Fashion Show
                • Africa Bikini and Accessories Fashion Show
              • Sci & Tech
                • All
                • App & Software
                • Natural Science
                • Social Media

                Checkout a Ghanaian crowdfunding platforms, Aidhub Africa

                ReaderApp platform supporting Ghanaian publishers to monetize their books

                Checkout first ever Ghanaian Dating App by Godwin Kumah Mawuli

                Apple, Google release sample code, others for COVID-19 exposure-notification apps

                COVID-19: TikTok donates £5m to Royal College of Nursing Foundation

                Facebook launches Coronavirus Information Centre in Ghana

                WACCBIP Director calls for passage of Science and Research Bill

                GH COVID-19 Tracker App was developed for Ghana free of charge – NITA boss

                Vice President of Ghana, Dr. Mahamudu Bawumia

                Gov’t launches COVID-19 Tracker App

                Trending Tags

                • Opinions
                  • All
                  • Editors Pick
                  • Featured Article
                  • Letters

                  Sir-Cil Tsatsu Tamakloe writes: Amongst the eight who were shot dead on December 7 were three kids

                  Opinion: Gift Tax, reality or fiction?

                  Nana Kesse writes; Is Marriage A Prison? – See others shared their thoughts

                  Norshie Israel Writes: A glance at imperfect me; through the lenses of a picture perfect world

                • COVID-19
                No Result
                View All Result
                OneFMOnline - Onefmonline.com – Top Stories, Ghana News, Politics, Business, World, Sports, Facts, Opinions, Art & Culture.
                Advertisement
                  Stream Us Live
                • National
                  • All
                  • Announcement
                  • Crime & Punishment
                  • Education
                  • Health
                  • Local News
                  • Obituary
                  • Religious

                  How Atta Kyea fled to UK to avoid being enstooled as Okyenhene

                  ICGC Crossover Service to be held virtually

                  ICGC Crossover Service to be held virtually

                  Prez Akufo-Addo meets cabinet Wednesday on possible re-opening of schools

                  Prez Akufo-Addo meets cabinet Wednesday on possible re-opening of schools

                  Gedo, 37, stoned to death for stealing cat in Tema

                  Gedo, 37, stoned to death for stealing cat in Tema

                  VIDEO: Fire outbreak at the main Kantamanto Market

                  VIDEO: Fire outbreak at the main Kantamanto Market

                  Ghana’s ex-President J.J. Rawlings is dead

                  GNS Foundation donates to Korle Bu Sickle Cell Clinic

                  WAEC releases time table for 2020 BECE

                  President Nana Akufo-Addo

                  President Akufo-Addo begins three-day tour of Northern, North East and Savanna Regions

                  Trending Tags

                  • Politics
                    • All
                    • Election Hub
                    • Parliament
                    • Politics
                    • The Ministry
                    https://onefmonline.com/wp-content/uploads/2021/02/KOKU.jpg

                    Asiedu Nketia betrayed me, God will punish him – Koku Anyidoho

                    Joe Osei Owusu, Fomena MP selected 1st and 2nd Deputy Speakers of Parliament

                    Joe Osei Owusu, Fomena MP selected 1st and 2nd Deputy Speakers of Parliament

                    Alban Bagbin sworn in as new Speaker of Parliament

                    Alban Bagbin sworn in as new Speaker of Parliament

                    Former President and Flagbearer of NDC, John Dramani Mahama

                    I won’t disturb the peace of Ghana – Mahama

                    Declare 2020 poll results null and void – Mahama to Supreme Court

                    Declare 2020 poll results null and void – Mahama to Supreme Court

                    [Full Document] John Mahama’s petition to the Supreme Court

                    [Full Document] John Mahama’s petition to the Supreme Court

                    2020 Election results: NDC officially heads to Supreme Court

                    2020 Election results: NDC officially heads to Supreme Court

                    Jean Mensa, Chairperson of the Electoral Commission

                    Over 11m Ghanaians have registered so far – EC

                    Mahama to outdoor Prof. Opoku-Agyemang as running mate today

                    Trending Tags

                    • Business
                      • All
                      • Agriculture & Mining
                      • Banking & Finance
                      • Economy & Investment
                      • Energy & Power
                      • Oil & Gas
                      • Telecommunication
                      • Trade & Forex Exchange
                      CBG rewards top fans on social media

                      CBG rewards top fans on social media

                      Vodafone introduces Smart Home Devices

                      Vodafone introduces Smart Home Devices

                      TC’s Energy, Power China sign agreement to revive Ada Foah wave energy project

                      Contractors engaged by PDS demand payment for finished projects

                      Kasapreko launches Puma Drinks with Metro Mass Transit

                      Vodafone Ghana replaces copper installations with fibre infrastructure to boost speed

                      46 workers at BOST test positive for COVID-19

                      Angela Mensah-Poku, Director of Commercial and Digital Transformation

                      Vodafone’s digital channels redefine customer engagement during COVID-19 and beyond

                      The Vice President, Dr. Mahamudu Bawumia

                      Ghana’s economy will recover quickly after COVID-19 pandemic – Bawumia

                      Trending Tags

                      • World
                        • All
                        • Asia Pacific
                        • Europe
                        • International
                        • Latin America
                        • UK & Ireland
                        • US & Canada
                        Nancy Pelosi arrives at the US Capitol for a veto override vote on the National Defense Authorization Act (NDAA) Photograph: REX/Shutterstock

                        House Republicans join with Democrats to override Trump’s veto of defence bill

                        Electoral college confirms Joe Biden’s presidential victory

                        Electoral college confirms Joe Biden’s presidential victory

                        American rapper and billionaire Kanye West and President of US Donald Trump

                        Kanye West says he is running for US president

                        US: George Floyd protests marred by lootings, fire

                        Coronavirus: US unemployment claims hit 33.3 million amid virus

                        COVID-19: Bank of England warns of biggest economic recession to hit UK

                        Boris Johnson and his fiancee Carrie Symonds

                        Boris Johnson and Carrie Symonds name baby son Wilfred Lawrie Nicholas

                        US President Donald Trump

                        US approves drug for coronavirus treatment

                        Kim Jong-un appears in public – state media

                        Trending Tags

                        • Art & Culture
                          • All
                          • Celebrity
                          • ChristianGist
                          • Creative Arts
                          • Event
                          • Hook with Kesse
                          • Hot Gossip
                          • Movies & Trailers
                          • Music
                          • People & Art
                          • Radio & TV
                          • SMT
                          • Tourism & Culture
                          • Video

                          #NEWMUSIC: Tee Rhyme – This Year (Prod. by Kendibeat & Video by SamArmStrong)

                          Ghana & OM Studios Kwame Frimpong appointed member of Africa HipHop Awards

                          #NEWMUSIC: DJ Wyse features Bless on ‘Angelina’

                          #EasterWeekendMagic: Kaya Tours 1-day unforgettable life experiential at Akosombo (PHOTOS)

                          #EasterWeekendMagic: Kaya Tours 1-day unforgettable life experiential at Akosombo (PHOTOS)

                          Gospel star Piesie Esther flaunts spotless beauty in photo

                          PHOTOS: Gospel star Piesie Esther flaunts spotless beauty in photo

                          Gyakie
January 23rd, 2020
Photo: Julius Tornyi / @commonjuls 2020

                          Gyakie inks juicy deal with Sony Music and RCA UK

                          E.L announces new album ‘’WAVS’’ dropping on March 19

                          Ghanaian musician E.L announces new album ‘WAVs’ dropping on March 19

                          PHOTOS: Meet Lady Rita Opoku, a Germany-based Ghanaian gospel musician to storm the industry with ‘ADOM’

                          PHOTOS: Meet Lady Rita Opoku, a Germany-based Ghanaian gospel musician to storm the industry with ‘ADOM’

                          “I support LGBTQI, you are not God to Judge." – singer Rootikal Swagger throws his support for LGBTQI

                          “I support LGBTQI, you are not God to Judge.” – singer Rootikal Swagger throws his support for LGBTQI

                          Trending Tags

                          • Africa
                            • All
                            • Congo
                            • Egypt
                            • Inside Africa
                            • Ivory Coast
                            • Kenya
                            • Libya
                            • Nigeria
                            • Rwanda
                            • South Africa
                            • Uganda
                            President Muhammadu Buhari

                            Nigeria’s COVID-19 cases exceed 40,000, death toll hits 858

                            President Muhammadu Buhari

                            Nigeria president suspends anti-corruption boss

                            Minister of Education, Adamu Adamu

                            COVID-19: Nigeria reverses resumption of schools; cancels WAEC exams

                            Madagascar to send troops to town where two died of Coronavirus

                            Coronavirus in South Africa: President Ramaphosa says outbreak will get worse

                            Africa records over 88,000 Coronavirus cases

                            Nigeria Aviation Minister Hadi Sirika

                            Nigeria impounds British plane for breaking Coronavirus flight ban rules

                            Madagascar President intensifies call for use of supposed COVID-19 cure after death of Malagasy

                            Uganda president blasts MPs for allocating $2.6m to themselves for coronavirus sensitisation

                            Trending Tags

                            • Sports
                              • Athletics
                              • Football
                              • AFCON
                              • Premier League
                              • FIFA WorldCup
                              • Livescore
                              • Boxing
                              • Tennis
                            • Lifestyle
                              • All
                              • Family & Parenting
                              • Food & Drink
                              • Health & Fitness
                              • Love & Relationship
                              • Recipes
                              • Travel
                              #EasterWeekendMagic: Kaya Tours 1-day unforgettable life experiential at Akosombo (PHOTOS)

                              #EasterWeekendMagic: Kaya Tours 1-day unforgettable life experiential at Akosombo (PHOTOS)

                              Abeiku Santana, FNB Bank and others join WWII Veteran Joseph Hammond on his Last Walk

                              Kasapreko launches Puma Drinks with Metro Mass Transit

                              Nana Kesse writes; Is Marriage A Prison? – See others shared their thoughts

                              Old married men not worth your time – Stephanie Benson to girls

                              Sriracha Bacon Fried Rice Balls

                              Scalloped Potato Roll

                              The Potential impact of Covid-19 pandemic on food security in Ghana

                              7 signs your girlfriend doesn’t regard you enough

                              Trending Tags

                              • Kasapreko Alomo Bitters
                              • Gym
                            • G & G
                              • All
                              • Birthday Party
                              • Fashion & Beauty
                              • Pageant & Reality Show
                              • Wedding
                              Gospel star Piesie Esther flaunts spotless beauty in photo

                              PHOTOS: Gospel star Piesie Esther flaunts spotless beauty in photo

                              COVID-19: ‘Breathless’ photos of Nana Akua Addo show she’s Ghana’s fashion goddess

                              [PHOTOS] Celebrities join ‘masking for a friend’ campaign

                              John Dumelo and his wife, Gifty Mawunya Nkornu

                              John Dumelo, wife celebrate one year of marriage

                              [PHOTOS] Larry Jay presents the SS20, ZONGO lookbook

                              Ghanaian Traveler, Ama Peters

                              #BikiniBae: The Haute Sultry Images Of Stunning Ghanaian Traveler, Ama Peters

                              Trending Tags

                              • Fashion Week
                              • Accra Mall Fashion Weekend
                              • Heels and Muscles Fashion Show
                              • Africa Bikini and Accessories Fashion Show
                            • Sci & Tech
                              • All
                              • App & Software
                              • Natural Science
                              • Social Media

                              Checkout a Ghanaian crowdfunding platforms, Aidhub Africa

                              ReaderApp platform supporting Ghanaian publishers to monetize their books

                              Checkout first ever Ghanaian Dating App by Godwin Kumah Mawuli

                              Apple, Google release sample code, others for COVID-19 exposure-notification apps

                              COVID-19: TikTok donates £5m to Royal College of Nursing Foundation

                              Facebook launches Coronavirus Information Centre in Ghana

                              WACCBIP Director calls for passage of Science and Research Bill

                              GH COVID-19 Tracker App was developed for Ghana free of charge – NITA boss

                              Vice President of Ghana, Dr. Mahamudu Bawumia

                              Gov’t launches COVID-19 Tracker App

                              Trending Tags

                              • Opinions
                                • All
                                • Editors Pick
                                • Featured Article
                                • Letters

                                Sir-Cil Tsatsu Tamakloe writes: Amongst the eight who were shot dead on December 7 were three kids

                                Opinion: Gift Tax, reality or fiction?

                                Nana Kesse writes; Is Marriage A Prison? – See others shared their thoughts

                                Norshie Israel Writes: A glance at imperfect me; through the lenses of a picture perfect world

                              • COVID-19
                              No Result
                              View All Result
                              OneFMOnline
                              No Result
                              View All Result

                              Highlights: Minority on the state of Ghana’s economy

                              Nana Kesse by Nana Kesse
                              March 21, 2019
                              5 min read
                              0
                              Minority

                              Minority

                              0
                              SHARES
                              Share on FacebookShare on TwitterShare on WhatsApp

                              The Minority in Parliament has asked the government to immediately submit a fresh budget statement to the house, insisting the 2019 budget has been thrown out of gear by the depreciation of the cedis.

                              RelatedStories

                              Joe Osei Owusu, Fomena MP selected 1st and 2nd Deputy Speakers of Parliament

                              Joe Osei Owusu, Fomena MP selected 1st and 2nd Deputy Speakers of Parliament

                              January 7, 2021
                              Alban Bagbin sworn in as new Speaker of Parliament

                              Alban Bagbin sworn in as new Speaker of Parliament

                              January 7, 2021

                              MPs’ COVID-19 test results won’t be made public – Medical Services Director

                              May 25, 2020

                              Minority spokesperson on Finance, Cassiel Ato Forson said investor confidence in the country’s economy is currently lost because of the falling value of the currency.

                              He told a media briefing in parliament house Wednesday the loss in value of the cedis is as a result of poor leadership.

                              Below are hights of the statement to the press.

                              1. The Ghana Cedi the weakest in Africa: The cedi/dollar exchange rate as at 3:04pm on 19th March 2019 stood at GH¢5.65 per dollar and GH¢5.60 per dollar at Fidelity Bank Ghana Limited and Ghana Commercial Bank respectively.

                              2. We are tired of the propaganda ‘IGP’ approach to arresting the Cedi.

                              3. Government is compounding the woes of Abossey Okai spare parts dealers. They are forced to pay double to clear their goods.

                              4. Importers are compelled to pay Special Import Levy and higher import duties to clear their goods.

                              5. Importers whose duty payments have shot up astronomically are forced to charge higher prices for their goods and service which has brought untold hardships on the ordinary Ghanaian.

                              6. It has been reported on various media platforms, both locally and internationally, that the cedi/US dollar exchange rate is expected to reach GH¢6 per dollar by the end of the third quarter of 2019.

                              7. In 2016, investors bought the dollar at an interbank rate of 3.9 Cedi per Dollar. Today, these same investors are compelled to buy the dollar at an interbank rate of 5.65 Cedis per Dollar.

                              8. In the last few months, Ghanaians have had to endure severe economic hardships brought on by the misplaced economic policies of the Akufo-Addo government.

                              9. Ghana has become a net oil exporter following the coming on stream of two additional oil fields worked on by the Mahama Administration. What is the Akufo-Addo government doing with huge oil revenue inflows that it cannot manage our exchange rates?

                              10. Indeed, in the last two years, the NPP Government has received the equivalent
                              of GH¢6,825,548,529.61 ($1,474,958,169.38) in foreign exchange as oil
                              revenue but has still not been able to augment its net international reserves
                              beyond end- 2016 levels.

                              11. The depreciation of the cedi can be attributed primarily to portfolio outflows
                              (as foreign investors repatriated coupons and principals) and a large current
                              account deficit mainly due to large trade service charges and interest payments.
                              The current account at end-December 2018 posted a deficit of 3.2 per cent of
                              GDP.

                              12. Government projected an overall deficit of 4.2 per cent of GDP (excluding
                              financial sector costs) for the 2019 fiscal year. This policy announcement is
                              sending negative signals to the investor community because it is inconsistent
                              with government policy decisions.

                              13. The proposed financing options for 2019 further give the indication that the deficit
                              level will exceed 4.2 per cent of GDP.

                              BORROWING GALORE

                              14. Government to add GH¢6.0 billion to the debt stock by issuing US$3.0 billion Eurobond.

                              15. The NPP government is about to give a guarantee to GNPC to borrow about
                              $250million for the government using royalties from oil revenue as collateral, which is
                              against the provisions of the Petroleum Revenue Management Act (Act, 815).

                              16. Government is also over-leveraging mineral royalties as collateral to borrow
                              $200million, which is against the Public Financial Management Act (Act, 921).

                              17. GETFund has also been given the guarantee to borrow $1.5 billion.

                              18. The government to borrow $2 billion from Synohydro by leveraging our bauxite
                              concession that is yet to be mined.

                              19. Government through Ghana Amalgamated Trust Limited (GAT) to borrow GH₵2 billion.

                              Dr. Bawumia (5) questions:

                              20. Question 1: Why would an independent central bank with focus on price
                              stability decide to reduce the monetary policy rate against its own research
                              findings that US policy normalization is strengthening the US dollar and causing
                              investors to move funds away from emerging economies and that upward
                              adjustments in domestic prices of petroleum products are likely to affect
                              transport and utility prices?

                              21. Question 2: Why would an independent central bank, with a focus on price
                              stability, decide to lower the policy rate in the face of dwindling net international
                              reserves and a rising interest rate abroad?

                              22. Question 3: Why would an independent central bank with focus on price
                              stability decide to reduce the monetary policy rate in favour of growth, which
                              has been projected to be higher than the previous year’s, while the local
                              currency is under pressure?

                              23. Question 4: Why would an independent central bank with a focus on price
                              stability decide to lower the policy rate in the face of excess liquidity in the
                              banking sector emanating from banks increasing their minimum paid-up capital
                              by over 100 percent, while the local currency is fast depreciating?

                              24. Question 5: Clearly, an economy cannot be externally unstable and internally
                              stable. How can a rapid exchange rate depreciation be accompanied with a
                              single digit inflation rate as captured by the posted macroeconomic indicators?

                              IMPACT OF THE CEDI DEPRECIATION

                              25. The depreciation of the Cedi has increased the cost of doing business. Domestic
                              businesses that rely on imported raw materials are compelled to pay more in
                              cedi terms for their raw materials.

                              26. The depreciation of the Cedi has made Ghanaian businesses less competitive.

                              27. More Ghanaian businesses have collapse and many more yet to collapse in the
                              coming days due to the weak performance of the Cedi.

                              28. Businesses are experiencing a harsh financial situation.

                              29. Government lying about growth assumptions because the weak sectoral growth
                              rates cannot support the overall growth rate.

                              30. Investor confidence is gradually weakening due heightened uncertainty, and
                              this is affecting the real sector.

                              31. In 2016, investors bought the dollar at an interbank rate of 3.9 Cedi per Dollar.
                              As at 3:04pm on 19th March 2019, these same investors are compelled to buy
                              the dollar at an interbank rate of GH¢5.65 per dollar and GH¢5.60 per dollar at
                              Fidelity Bank Ghana Limited and Ghana Commercial Bank respectively.

                              32. The depreciation of the cedi has overburdened investors with unexpected cost,
                              as their cedi cannot purchase as much as before in the external market. This
                              has reduced their capacity to expand their businesses.

                              33. Government to use all hard-earned revenue to pay loans due to depreciation
                              of the Cedi.

                              34. Nana Addo and Bawumia should please leave the 164 workers of GCB alone
                              and arrest the cedi. They are bread winners.
                              35. Nana Addo and Bawumia are worsening our economic conditions and are busy
                              sacking workers.

                              36. Investors have lost confidence in the Ghanaian economy and this sending
                              wrong signals to the investor community.

                              37. How can economy be externally unstable and internally stable. Dr. Bawumia
                              stop faking macroeconomic indices to deceive us. What kind of economics
                              wizardry is this? Enough of the lies.

                              38. The 2019 Budget has been rendered useless. At the time of preparation of the
                              2019 budget, all fiscal and financial estimates were made using a projected
                              Cedi/Dollar exchange of GH¢4.8 per Dollar. Currently, the Cedi/Dollar exchange
                              is quoted at GH¢5.65 per Dollar.

                              39. Government has added GH¢15.3 billion to Ghana’s external debt due to the
                              depreciation.

                              40. Ghana’s external debt stock as at November 2018 will be translated at the
                              current exchange rate into GH¢101.3 billion.

                              41. In barely 2 years, the NPP government has added GH¢80 billion to the public
                              debt stock.

                              42. Ghana’s total public debt now stands at GH¢201.8 billion and government has
                              nothing to show for it. NPP why? Nana Addo will soon sell us.

                              Share this:

                              • Facebook
                              • Twitter
                              • WhatsApp
                              • Telegram
                              • LinkedIn
                              • Tumblr
                              • Reddit
                              • Print

                              Like this:

                              Like Loading...

                              Related

                              News is under threat …

                              Please we kindly need your support so we can keep delivering quality journalism that’s open and independent. And that is here for the long term. Every reader contribution, however big or small, is so valuable to us. Support One FM Online from as little as $1 via Mobile Money on +233244078920 – and it only takes a minute. Thank you.

                              ADVERTISEMENT
                              Previous Post

                              Chief Justice warns saboteurs of E-Justice project

                              Next Post

                              39-year-old ex-Ghana captain Adwoa Bayor returns to the pitch for NC Special competition

                              Next Post
                              Former Black Queens captain Grace Adwoa Bayor

                              39-year-old ex-Ghana captain Adwoa Bayor returns to the pitch for NC Special competition

                              Leave a Reply Cancel reply

                              ADVERTISEMENT

                              Like Us On Facebook

                              Like Us On Facebook
                              • #EasterWeekendMagic: Kaya Tours 1-day unforgettable life experiential at Akosombo (PHOTOS)

                                #EasterWeekendMagic: Kaya Tours 1-day unforgettable life experiential at Akosombo (PHOTOS)

                                0 shares
                                Share 0 Tweet 0
                              • Checkout a Ghanaian crowdfunding platforms, Aidhub Africa

                                0 shares
                                Share 0 Tweet 0
                              • [Full Document] John Mahama’s petition to the Supreme Court

                                0 shares
                                Share 0 Tweet 0
                              • Gabby Otchere-Darko, Asante Bediatuo bow before Otumfuo

                                0 shares
                                Share 0 Tweet 0
                              OneFMOnline – Onefmonline.com – Top Stories, Ghana News, Politics, Business, World, Sports, Facts, Opinions, Art & Culture.

                              Follow Us

                              Information

                              Privacy policy Submit Article
                              Sitemap Advetisement
                              Poll & survey Premier league
                              Comments feed One TV Ghana
                              Livescores Donate to support

                              Recent Posts

                              • #NEWMUSIC: Tee Rhyme – This Year (Prod. by Kendibeat & Video by SamArmStrong)
                              • Ghana & OM Studios Kwame Frimpong appointed member of Africa HipHop Awards
                              • Checkout a Ghanaian crowdfunding platforms, Aidhub Africa

                              Newsletter

                              Subscribe to Email Updates

                              Subscribe to receives daily updates and news direct to your inbox!

                              *We promise we won't spam you.

                              • About
                              • Advertise
                              • Privacy & Policy
                              • Contact

                              © 2020 One FM Online - All Rights Reserved - Developed By EMetrics.

                              No Result
                              View All Result
                              • National
                              • Politics
                              • Business
                              • World
                              • Art & Culture
                              • Africa
                              • Sports
                                • Athletics
                                • Football
                                • AFCON
                                • Premier League
                                • FIFA WorldCup
                                • Livescore
                                • Boxing
                                • Tennis
                              • Lifestyle
                              • G & G
                              • Sci & Tech
                              • Opinions
                              • COVID-19

                              © 2020 One FM Online - All Rights Reserved - Developed By EMetrics.

                              Welcome Back!

                              Login to your account below

                              Forgotten Password?

                              Create New Account!

                              Fill the forms bellow to register

                              All fields are required. Log In

                              Retrieve your password

                              Please enter your username or email address to reset your password.

                              Log In

                              Add New Playlist

                              %d bloggers like this: