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IMF report validates NDC’s concerns about Free SHS policy

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Ranking Member on Parliament’s Education Committee, Peter Nortsu-Kotoe, has said that the International Monetary Fund (IMF) report on the Free Senior High School (SHS) policy accurately reflects the challenges associated with the programme.

The IMF report criticized the government’s implementation of the policy, highlighting its poor targeting and suggesting areas for improvement.

Mr. Nortsu-Kotoe emphasized the need to review the programme to ensure effective support is provided to those who truly need it.

He added that the report validates concerns NDC had raised about the programme over the years.

“The policy is good, but it must be implemented so that it can target people who actually require support or assistance, to enable them go through the Senior high School programme. Having it on a large scale is not bad, but the outcome or output is the challenge that we are faced with”.

“The IMF has really said what the National Democratic Congress (NDC) has been saying over the years that let us review the programme, the pros and cons, what challenges are there, what successes have we made, so that we can improve upon the programme,” Ranking Member on Parliament’s Education Committee stated.

IMF in a country report released ahead of the approval of the country’s $3 billion bailout said, “Ghana spends close to 4 percent of GDP on education with good results in terms of enrolment but poor learning outcomes. The flagship programme Free Senior High School (SHS), which covers the full cost of secondary education, has helped increase enrolment but is poorly targeted”.

The report added that key identified areas of “potential improvement of education spending include strengthening primary education resources, better teacher training, and stronger performance-based
funding practices.”

Former President John Dramani Mahama has on several occasions stated that the next NDC government under his leadership will review the free SHS policy.

The government has spent over GH¢10 billion on free SHS since its introduction in 2017.

Source: Citinews

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Companies fleeing Ghana due to economic mismanagement under Akufo-Addo – Mahama

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The presidential candidate of the opposition National Democratic Congress (NDC), John Dramani Mahama, says many companies in Ghana are relocating to neighbouring countries due to the worsening economic situation under the Akufo-Addo-led government.

He explained that the current economic climate is stifling business operations, pushing many companies to seek better opportunities in neighboring nations.

Mr Mahama further expressed concern that the youth no longer see a promising future in Ghana because of what he described as the government’s mismanagement of the economy.

Speaking during his meeting with the clergy in Accra on Tuesday, October 1, 2024, the former President emphasised the urgent need to rescue the nation from its current economic challenges, pledging that his leadership would manage the country’s resources efficiently.

Mr. Mahama also vowed to work tirelessly with his team to restore the economy for the benefit of all Ghanaians.

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T-bills auction: Government records marginal oversubscription; pays slightly more for 91-day bill

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For the first time in 10 weeks, the government recorded an oversubscription of its treasury bills sale.

However, it paid a higher price for the 91-day bill which it received bids worth GH¢4.689 billion before achieving its target. 

According to auction results from the Bank of Ghana, the government got GH¢5.529 billion from all the bids tendered, about 2.40% more than the target.ed amount

All the bids were accordingly accepted.

The 91-day bill received the bulk of the bids of GH¢4.689 billion, about 84% of the total bids.

About GH¢594 million of the bids came from the 182-day bill, whilst GH¢245.74 million were made up of the 364-day bills.

Meanwhile, interest rates were mixed across the yield curve.

Whilst the yield on the 91-day bill went up marginally that of the 182-day and 364-day bills declined slightly.

The yield on the 91-day bill was 24.91%, higher than the 24.90% recorded a week ago.

The rate on the 182-day bill went down by 2.0 basis points to 26.78%, whereas that of the 364-day bill also declined to 28.07%, from the previous week’s 27.91%.

Inflation eased marginally last week. This could push interest rates down but albeit slowly.

SECURITIESBIDS TENDERED (GH¢)BIDS ACCEPTED (GH¢)
91 Day Bill4.689 billion4.689 billion
182 Day Bill594.37 million594.37 million
364 Day Bill245.74 million245.74 million
   
Total5.529 billion5.529 billion
Target5.400 billion 

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Ablakwa slams govt for failing to aid Akosombo Dam victims

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Samuel Okudzeto Ablakwa, Member of Parliament for North Tongu, has expressed outrage over the government’s prolonged failure to assist individuals affected by the Akosombo Dam spillage.

Despite the disaster occurring almost a year ago, many affected persons remain in camps without receiving compensation or necessary support to resume their lives.

Addressing a stakeholder public hearing, Ablakwa revealed that over 1,300 affected persons still live in camps, criticising the government’s approach as inadequate.

He highlighted the government’s inter-ministerial committee’s failure to engage with MPs from impacted areas, despite being established to address the issue.

“You heard the government set up a 30-member committee. We are the inter-ministerial committee. To be very honest with you, we are very disappointed that that committee has not met us even once. I mean, a lot of the members, we are in parliament with them. I would have thought that even if it’s parliament, we can meet here.”

“We can even meet at the cafeteria, even over coffee that, oh, share data with us or tell us what is happening. You know, not one meeting, not so, we don’t know if it was just maybe an announcement for the public for some cosmetic reason, but we don’t know.

The chiefs time without a number, they will even call us. You are in parliament with them. When is the committee coming? and we can’t provide answers because we are not, we haven’t been engaged.”

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