Edziedzorm

Utilitarian | Inspired by - Machiavelli Malcolm & Garvey |
Do me good, I do you good. Simple.

[Bee 🐝 @Bridget_Otoo]

UHAS is set to complete its 5,300m² Laboratory Complex after years of delay, creating what will become one of the largest medical laboratory facilities in Ghana and the sub-region and will provide world-class practical training for more than 1,200 students, strengthen health research and innovation, position Ho as a regional hub for health sciences education, and stimulate local economic activity through increased demand for housing, transport, and other services.

#ResettingGhanaTour

[Bee 🐝 @Bridget_Otoo]

The Flood Mitigation Task Force has identified extensive encroachment at the Tesa Dam, undermining its flood control capacity. During an inspection of the site, the team found illegal retention walls and a nearby informal settlement posing serious health, sanitation, and flood risks. The affected structures have been earmarked for demolition as part of Government's efforts to restore the dam and reduce future flooding.

[#BoysLivesMatter @KobbyKyei_]

Looking Back: The July 1995 Accra Floods

[Bee 🐝 @Bridget_Otoo]

Which brand of cement? You are doing a disservice to your followers and listeners.

Today 27th June, 2027 - you can get a bag of cement @80 cedis CIMAF 32.R.

The CIMAF 42.5R is 103 cedis.

Please do your checks well or you owe us the brand you used in putting these false figures out!

[Edziedzorm @DeChrisman22]

That's how you summed it?

[Cybron🇬🇭 @MohammedAliu6]

@S_OkudzetoAblak Accra is hosting a global reparations conference and the President of France is coming to speak on it. Whatever you think of Macron, Ghana just put itself at the center of the most important conversation Africa has had in decades

[Edziedzorm @DeChrisman22]

@nyavorx @S_OkudzetoAblak @Richest_Kaleid Are politicians cursed that bad? Because sometimes I don't understand o

[Edziedzorm @DeChrisman22]

Politicians ankasa nu, dem be some way o. Today this, tomorrow that.

[Sam Okudzeto Ablakwa @S_OkudzetoAblak]

The Government of Ghana confirms that the President of France will address the Next Steps Conference on Reparatory Justice being hosted in Accra by President Mahama.

President Macron is expected to welcome a good faith dialogue on historical injustice against Africans and outline France's commitment to Reparatory Justice following the landmark adoption of the Ghana-led UN resolution declaring the transatlantic enslavement as the gravest crime against humanity.

[ESPN Africa @ESPNAfrica]

Speed had the Ghana flag all over the music video for his new World Cup song 🇬🇭

[Edziedzorm @DeChrisman22]

@EfoEtornam That road is already gone. Just one rainfall and it's over.

[Edziedzorm @DeChrisman22]

@eastsportsman I bought 2 and gave the guy 100 cedis .He gave me 50 cedis and continued fanning his charcoal. Stood there for some seconds in anticipation he was gonna give me a top up. I just took it like that and left.

[Cassiel Ato Forson (PhD) @Cassielforson]

STATEMENT ON GHANA’S NEW ENGAGEMENT WITH THE IMF

1. Rt. Hon. Speaker, I come before this House to provide an update on the substantial progress we have made in restoring macroeconomic stability and debt sustainability ahead of the original timeline.

2. This address will also announce a new chapter in Ghana’s engagement with the International Monetary Fund.

3. Mr. Speaker, this is a consequential moment in President Mahama’s Reset Agenda and, indeed, in the life of our Nation.

4. It signifies Ghana’s passage from crisis management to stability, from dependence on financial bailout to partnership in reform, and from uncertainty to renewed confidence in our economic future.

5. Mr. Speaker, to appreciate the significance of this moment, we must briefly recall the gravity of the crisis Ghana faced in 2022.

6. On 1st July 2022, the previous administration turned to the IMF for a financial bailout after their gross mismanagement of the economy had driven the country into fiscal, balance of payments and debt crises.

7. President Mahama, the then NDC flag bearer, acknowledged the decision as necessary, though a belated intervention to arrest the decline and to ease the severe hardship being borne by the Ghanaian people through no fault of theirs.

8. The scale of that crises was profound, if not traumatic:

• The cedi came under intense pressure;
• inflation rose to painful levels, investor confidence deteriorated sharply;
• external reserves were strained; and
• Ghana lost access to the international capital market.

9. As a result, credit rating agencies responded by downgrading Ghana’s sovereign rating, repeatedly, in 2022, to levels never seen in our country’s history:

• In February that year (2022), Moody’s downgraded Ghana to Caa1.
• In August, S&P downgraded Ghana to CCC+.

• Again, in August, Fitch downgraded Ghana to CCC.

• And in September, Fitch again, downgraded Ghana to CC.

• Finally, in October 2022, Ghana lost access to the international capital market with Ghana’s Eurobond spreads widening to an all-time high of 3400 basis point.

10. This further deepened the economic and financial crises, to the point that COCOBOD was unable to secure a syndicated loan for the first time in many years.

11. Also, some domestic commercial banks could no longer obtain external funding or establish letters of credit, as international banks declined to confirm those instruments.

12. Mr. Speaker, on 5th December 2022, following the announcement that Ghana could not meet its maturing domestic debt obligations, the NPP administration introduced the Domestic Debt Exchange Programme (DDEP), imposing significant haircuts on domestic bondholders.

13. On 13th December 2022, Ghana formally requested debt treatment under the G20 Common Framework in order to restructure its bilateral debt portfolio of more than US$5 billion.

14. On 19th December 2022, the NPP administration again defaulted on the servicing of Ghana’s external commercial debt obligations.

15. The far-reaching haircuts affected:

• The Bank of Ghana;
• commercial banks;
• non-bank financial institutions;
• pension funds;
• insurance companies;
• individual bondholders; and
• even pensioners were not spared.

16. Mr. Speaker, ordinary Ghanaians bore the heaviest burden of that crisis. The consequences were felt across households, businesses, and institutions through:

• rapid depreciation of the cedi;
• runaway inflation of more than 50 percent;
• massive erosion of disposable incomes and savings;
• painful haircuts on domestic bondholders, including pensioners;
• punitive interest rates that constrained private sector activity;
• the imposition of nuisance taxes including E-Levy, Betting Tax, COVID-19 Levy and Emissions Tax;
• job losses, business distress, and weakened investor confidence; and
• a sharp rise in poverty and economic insecurity.

[Edziedzorm @DeChrisman22]

@eastsportsman @Mr_Abu233 Another astro turf 😂

[Edziedzorm @DeChrisman22]

@JusticeSremSai What status must such a person carry in the party?

[Bee 🐝 @Bridget_Otoo]

Vice President Jane Naana Opoku-Agyemang underscored that Africa’s future will not be determined solely by the scale of disruption facing the continent, but by the clarity, coordination and collective resolve with which it chooses to organise, lead and define its own path forward.

#VeepAtOxford

[Edziedzorm @DeChrisman22]

@AskMTNGhana @MTNGhana Data bought on Tuesday, till now it's one story to another. Make this make sense to me.

[Edziedzorm @DeChrisman22]

@MTNGhana @AskMTNGhana Arhhh. How do I buy Data on Tuesday, and by Saturday evening, you are still telling me the same story. Is this normal?

[Edziedzorm @DeChrisman22]

@MTNGhana @AskMTNGhana I dey beg you people waaaaa. Wouldn't it have been better if you had refunded? What sort of nonsense is this one?

[Edziedzorm @DeChrisman22]

@AskMTNGhana At least refund let me look elsewhere?

[KOJO DYNAMIC 𓃵 @AnnanPerry]

Prudent management

[Che🇬🇭 @CheEsquire]

Bawumia can’t relate