Matthew's Feed
Aug 30, 2015

Ghana strike ends but election campaign to test IMF deal further

ACCRA (Reuters) – Ghana faced down the first major challenge to an IMF austerity program on Monday when doctors suspended a three-week strike but a bigger test of President John Mahama’s commitment will come next year as he fights for reelection.

The International Monetary Fund deal is designed to restore fiscal stability and kickstart growth in a country that recently lost its reputation as one of Africa’s strongest economies after years in which its GDP grew at around 8 percent thanks to exports of gold, cocoa and oil.

Aug 14, 2015

Ghana doctors likely to call off strike, union says

ACCRA, Aug 14 (Reuters) – Ghana’s doctors are likely to call
off a strike that is seen as an early test of the government’s
ability to hold to the terms of an International Monetary Fund
programme designed to restore economic stability.

The Ghana Medical Association union is under pressure from
political, cultural and religious leaders to end its two-week
industrial action over conditions of service, Dr. Kwabena
Opoku-Adusei, president of the union, said on Friday.

Aug 12, 2015

Ghana’s economy needs growth above 8 pct to create jobs – president

ACCRA, Aug 12 (Reuters) – Ghana’s economy needs to expand by
more than eight percent a year to create jobs for its growing
population, its president said on Wednesday, a tough challenge
for a country battling a fiscal crisis and weaker prices for its
commodity exports.

Once Africa’s star economy, Ghana has seen growth shrivel in
the past two years and is expected to stand at 3.9 percent in
2015, below average for sub-Saharan Africa.

Jul 8, 2015

Ghana cocoa farmers say output to bounce back next season

NEW TAFO, Ghana, July 8 (Reuters) – Some cocoa farmers in
Ghana say the next main crop will easily outstrip the
disappointing 2014/15 season, adding weight to a government
forecast that next season’s output will rise to around 900,000

Investors confidence in Ghana’s ability to forecast its
cocoa output took a hit this year, when regulator Cocobod
revised an initial prediction of more than 1 million tonnes made
at the start of the season in October to around 700,000 tonnes.

Jun 22, 2015

Protesters clash with Ghana security forces over bulldozed houses

ACCRA (Reuters) – Ghanaian demonstrators clashed with security forces in Accra on Monday, burning tires and throwing stones to protest the demolition of hundreds of houses to make way for better flood control, witnesses said.

Police fired tear gas and briefly arrested five people in a bid to deter the protesters, hundreds of whom also marched from the impoverished Old Fadama neighborhood to parliament before turning back when met by soldiers, witnesses and police said.

Jun 20, 2015

Ghana destroys hundreds of homes in capital in bid to prevent floods

ACCRA, June 20 (Reuters) – Bulldozers razed hundreds of
homes and businesses in the poor Sodom and Gomorrah
neighbourhood of Ghana’s capital on Saturday so the authorities
can start widening a lagoon to prevent a repeat of this month’s
deadly floods.

Some residents said security forces sprayed them with tear
gas after they threw stones to protect their livelihoods from
the bulldozers. By evening, thousands were stranded in the rain
amid rubble and household goods strewn for more than a mile.

Jun 13, 2015

Ghana’s president says slowing inflation shows fiscal plan working

ACCRA, June 12 (Reuters) – Positive results are starting to
flow from Ghana’s fiscal consolidation plan that includes an aid
deal with the International Monetary Fund and a decision by the
European Union to renew budget support, President John Mahama
said on Friday.

Mahama cited a slowdown in the increase in the inflation
rate as an example of improvement and said the currency, which
has fallen to a record low against the dollar, was being hurt
partly by speculation.

Jun 4, 2015

Blast at Ghana petrol station kills about 90 people

ACCRA (Reuters) – An explosion at a petrol station in Ghana’s capital Accra killed about 90 people, many of whom had sought shelter there from torrential rain, on Wednesday night, the fire brigade said.

The blast was caused by a fire that erupted at a nearby truck terminal then spread to the petrol station and other buildings, fire brigade spokesman Prince Billy Anaglate said.

May 13, 2015

Ghana power blackouts add to nation’s economic woes

ACCRA, May 13 (Reuters) – Joseph Nyame was doing very well
as senior plant operator at the Sha-Sha Natural Fruit Juice
company near Ghana’s capital Accra until a wave of power cuts
forced the firm out of business.

Now Nyame makes his living on the street, selling cheap
Chinese plates to office workers, a victim of the West African
nation’s energy crisis. His dreams of getting ahead are on hold,
he said, as he unpacked plates in the small house he rents with
three other families.

Apr 22, 2015

Analysis – Billions at risk for Ghana, oil firms from oil boundary ruling

DAKAR/ACCRA (Reuters) – Ghana’s decision to seek arbitration in a dispute with Ivory Coast over an oil-rich basin in the Atlantic could prove costly for the country and a consortium led by Tullow (TLW.L: Quote, Profile, Research) if a court halts development there.

The International Tribunal for the Law of the Sea will rule on Saturday on Ivory Coast’s February request for a moratorium on activity in the basin. The decision is part of legal proceedings on a maritime border dispute sought by Ghana’s President John Dramani Mahama in September.