Day: November 7, 2023

In a disheartening incident that took place at Feyiase in the Ashanti Region, a cherished symbol of historical significance in the Asante Kingdom has been lost.

A 300-year-old cola tree, purportedly planted by Komfo Anokye, was cut down by an unknown man in the early hours of Tuesday, November 7, 2024. This was reported by a Facebook user with the name, Kwabena Nsafua.

The cola tree hold a significant place in local tradition of the Asante people and it is believed to have been planted by the revered chief priest, Komfo Anokye, the man who commanded the Golden Stool from the sky for the Asantehene.

The town of Feyiase, which historically served as a battleground between the Asante Allied Forces and the Denkyira in the 17th century, stands as a testament to a rich history of conflicts and cultural heritage in the region.

The felling of this ancient tree, positioned along the Lake Bosomtwe Road, carries deep symbolic importance, resonating with the area’s historical narratives.

The cola tree stood as a living object, a reminder of ancestral roots, and was highly revered by the locals, details online have said.

The post 300-year-old tree planted by Komfo Anokye cut down by unknown person appeared first on The Herald ghana.

 The Herald ghana 

In a disheartening incident that took place at Feyiase in the Ashanti Region, a cherished symbol of historical significance in the Asante Kingdom has been lost.

A 300-year-old cola tree, purportedly planted by Komfo Anokye, was cut down by an unknown man in the early hours of Tuesday, November 7, 2024. This was reported by a Facebook user with the name, Kwabena Nsafua.

The cola tree hold a significant place in local tradition of the Asante people and it is believed to have been planted by the revered chief priest, Komfo Anokye, the man who commanded the Golden Stool from the sky for the Asantehene.

The town of Feyiase, which historically served as a battleground between the Asante Allied Forces and the Denkyira in the 17th century, stands as a testament to a rich history of conflicts and cultural heritage in the region.

The felling of this ancient tree, positioned along the Lake Bosomtwe Road, carries deep symbolic importance, resonating with the area’s historical narratives.

The cola tree stood as a living object, a reminder of ancestral roots, and was highly revered by the locals, details online have said.

The post 300-year-old tree planted by Komfo Anokye cut down by unknown person appeared first on The Herald ghana.

 The Herald ghana 

Following, the conclusion of the NPP Presidential election, it is imperative for our nation to refocus on the sobering reality we face as citizens: a hardship economy. Our economy, marred by mismanagement, teeters on the brink of collapse and currently relies heavily on a $3 billion life support from the IMF.

In May 2023, the IMF Executive Board approved a $3 billion Extended Credit Facility Arrangement for Ghana, with a first disbursement of $600 million. The scheduled second tranche payment of $600 million, due on November 1, 2023, has yet to be received as of today, November 7. This raises concerns about the government’s compliance with the IMF’s conditions for subsequent payments.

The government had planned to restructure about $10.5 billion of Ghana’s external debts as part of the IMF conditionalities but sources from Washington DC indicate sluggish progress in negotiations with Ghana’s key creditors, including China and the Paris Club, posing a significant threat to Ghana’s economic recovery.

It is crucial for the government to provide transparency regarding the status of the external debt restructuring and confirm whether the second tranche payment is coming soon, as stipulated by the IMF in their payment schedule.

Additionally, the separate $1.5 billion Ghana Financial Stability Fund remains unrealized, despite missed deadlines in July and October. This delay, coupled with the government’s lackadaisical approach to supporting the financial sector, raises alarming prospects of an impending banking crisis. Clarity and decisive actions are imperative to safeguard our nation’s economic future.

The post Dr Sa-ad Iddrisu writes; Is Ghana’s $3 billion IMF programme in jeopardy as second payment remains outstanding? appeared first on The Herald ghana.

 The Herald ghana 

Following, the conclusion of the NPP Presidential election, it is imperative for our nation to refocus on the sobering reality we face as citizens: a hardship economy. Our economy, marred by mismanagement, teeters on the brink of collapse and currently relies heavily on a $3 billion life support from the IMF.

In May 2023, the IMF Executive Board approved a $3 billion Extended Credit Facility Arrangement for Ghana, with a first disbursement of $600 million. The scheduled second tranche payment of $600 million, due on November 1, 2023, has yet to be received as of today, November 7. This raises concerns about the government’s compliance with the IMF’s conditions for subsequent payments.

The government had planned to restructure about $10.5 billion of Ghana’s external debts as part of the IMF conditionalities but sources from Washington DC indicate sluggish progress in negotiations with Ghana’s key creditors, including China and the Paris Club, posing a significant threat to Ghana’s economic recovery.

It is crucial for the government to provide transparency regarding the status of the external debt restructuring and confirm whether the second tranche payment is coming soon, as stipulated by the IMF in their payment schedule.

Additionally, the separate $1.5 billion Ghana Financial Stability Fund remains unrealized, despite missed deadlines in July and October. This delay, coupled with the government’s lackadaisical approach to supporting the financial sector, raises alarming prospects of an impending banking crisis. Clarity and decisive actions are imperative to safeguard our nation’s economic future.

The post Dr Sa-ad Iddrisu writes; Is Ghana’s $3 billion IMF programme in jeopardy as second payment remains outstanding? appeared first on The Herald ghana.

 The Herald ghana 

Following, the conclusion of the NPP Presidential election, it is imperative for our nation to refocus on the sobering reality we face as citizens: a hardship economy. Our economy, marred by mismanagement, teeters on the brink of collapse and currently relies heavily on a $3 billion life support from the IMF.

In May 2023, the IMF Executive Board approved a $3 billion Extended Credit Facility Arrangement for Ghana, with a first disbursement of $600 million. The scheduled second tranche payment of $600 million, due on November 1, 2023, has yet to be received as of today, November 7. This raises concerns about the government’s compliance with the IMF’s conditions for subsequent payments.

The government had planned to restructure about $10.5 billion of Ghana’s external debts as part of the IMF conditionalities but sources from Washington DC indicate sluggish progress in negotiations with Ghana’s key creditors, including China and the Paris Club, posing a significant threat to Ghana’s economic recovery.

It is crucial for the government to provide transparency regarding the status of the external debt restructuring and confirm whether the second tranche payment is coming soon, as stipulated by the IMF in their payment schedule.

Additionally, the separate $1.5 billion Ghana Financial Stability Fund remains unrealized, despite missed deadlines in July and October. This delay, coupled with the government’s lackadaisical approach to supporting the financial sector, raises alarming prospects of an impending banking crisis. Clarity and decisive actions are imperative to safeguard our nation’s economic future.

The post Dr Sa-ad Iddrisu writes; Is Ghana’s $3 billion IMF programme in jeopardy as second payment remains outstanding? appeared first on The Herald ghana.

 The Herald ghana 

Following, the conclusion of the NPP Presidential election, it is imperative for our nation to refocus on the sobering reality we face as citizens: a hardship economy. Our economy, marred by mismanagement, teeters on the brink of collapse and currently relies heavily on a $3 billion life support from the IMF.

In May 2023, the IMF Executive Board approved a $3 billion Extended Credit Facility Arrangement for Ghana, with a first disbursement of $600 million. The scheduled second tranche payment of $600 million, due on November 1, 2023, has yet to be received as of today, November 7. This raises concerns about the government’s compliance with the IMF’s conditions for subsequent payments.

The government had planned to restructure about $10.5 billion of Ghana’s external debts as part of the IMF conditionalities but sources from Washington DC indicate sluggish progress in negotiations with Ghana’s key creditors, including China and the Paris Club, posing a significant threat to Ghana’s economic recovery.

It is crucial for the government to provide transparency regarding the status of the external debt restructuring and confirm whether the second tranche payment is coming soon, as stipulated by the IMF in their payment schedule.

Additionally, the separate $1.5 billion Ghana Financial Stability Fund remains unrealized, despite missed deadlines in July and October. This delay, coupled with the government’s lackadaisical approach to supporting the financial sector, raises alarming prospects of an impending banking crisis. Clarity and decisive actions are imperative to safeguard our nation’s economic future.

The post Dr Sa-ad Iddrisu writes; Is Ghana’s $3 billion IMF programme in jeopardy as second payment remains outstanding? appeared first on The Herald ghana.

 The Herald ghana 

Following, the conclusion of the NPP Presidential election, it is imperative for our nation to refocus on the sobering reality we face as citizens: a hardship economy. Our economy, marred by mismanagement, teeters on the brink of collapse and currently relies heavily on a $3 billion life support from the IMF.

In May 2023, the IMF Executive Board approved a $3 billion Extended Credit Facility Arrangement for Ghana, with a first disbursement of $600 million. The scheduled second tranche payment of $600 million, due on November 1, 2023, has yet to be received as of today, November 7. This raises concerns about the government’s compliance with the IMF’s conditions for subsequent payments.

The government had planned to restructure about $10.5 billion of Ghana’s external debts as part of the IMF conditionalities but sources from Washington DC indicate sluggish progress in negotiations with Ghana’s key creditors, including China and the Paris Club, posing a significant threat to Ghana’s economic recovery.

It is crucial for the government to provide transparency regarding the status of the external debt restructuring and confirm whether the second tranche payment is coming soon, as stipulated by the IMF in their payment schedule.

Additionally, the separate $1.5 billion Ghana Financial Stability Fund remains unrealized, despite missed deadlines in July and October. This delay, coupled with the government’s lackadaisical approach to supporting the financial sector, raises alarming prospects of an impending banking crisis. Clarity and decisive actions are imperative to safeguard our nation’s economic future.

The post Dr Sa-ad Iddrisu writes; Is Ghana’s $3 billion IMF programme in jeopardy as second payment remains outstanding? appeared first on The Herald ghana.

 The Herald ghana 

Following, the conclusion of the NPP Presidential election, it is imperative for our nation to refocus on the sobering reality we face as citizens: a hardship economy. Our economy, marred by mismanagement, teeters on the brink of collapse and currently relies heavily on a $3 billion life support from the IMF.

In May 2023, the IMF Executive Board approved a $3 billion Extended Credit Facility Arrangement for Ghana, with a first disbursement of $600 million. The scheduled second tranche payment of $600 million, due on November 1, 2023, has yet to be received as of today, November 7. This raises concerns about the government’s compliance with the IMF’s conditions for subsequent payments.

The government had planned to restructure about $10.5 billion of Ghana’s external debts as part of the IMF conditionalities but sources from Washington DC indicate sluggish progress in negotiations with Ghana’s key creditors, including China and the Paris Club, posing a significant threat to Ghana’s economic recovery.

It is crucial for the government to provide transparency regarding the status of the external debt restructuring and confirm whether the second tranche payment is coming soon, as stipulated by the IMF in their payment schedule.

Additionally, the separate $1.5 billion Ghana Financial Stability Fund remains unrealized, despite missed deadlines in July and October. This delay, coupled with the government’s lackadaisical approach to supporting the financial sector, raises alarming prospects of an impending banking crisis. Clarity and decisive actions are imperative to safeguard our nation’s economic future.

The post Dr Sa-ad Iddrisu writes; Is Ghana’s $3 billion IMF programme in jeopardy as second payment remains outstanding? appeared first on The Herald ghana.

 The Herald ghana