24th July, 2015

The Daily Graphic says the country is suffering from a high fiscal deficit, rising inflation and a debt to GDP level close to 70 percent resulting in assistance from the International Monetary Fund (IMF) that culminated in a 3 year $918m programme. The Paper holds it that visible signs taken by the government to stabilise the economy are beginning to yield dividends. The Paper again says the revised growth are more realistic meeting demands of the IMF programme and if proceeds of the Eurobond are used to retire more expensive domestic debts, it will sustain Ghana's debt. The Daily Graphic therefore appeals passionately to the citizenry that as government works to consolidate the gains, they should support it in a good direction towards economic recovery and thus suggests that external fluctuations for gold, cocoa and oil should be diversified by government through gas power, agro-processing and petro-chemicals to reduce Ghana's reliance on the three commodities. Finally, if medium-term plans should be focused on structural measures aimed at correcting structural defects, the economy will rise again. 

According to the Ghanaian Times, reports so far received on the launch of a 40-years development framework by the National Development Planning Commission (NDPC) has been unanimously accepted by various groups. It is particularly delighted that the largest opposition party, the New Patriotic Party (NPP) has backed the idea. The Times is grateful that there seems to be a consensus on the need to have a development framework that will guide all governments regardless of their individual manifestoes.  The National Development Planning Commission (NDPC) is urged by the paper to push for a legislation to make it mandatory for all governments to uphold the development agenda so that the country develops a free, just and prosperous economy.

GBC