Emmanuel Nii Kabutey Mensah

Everyday Is An Opportunity To Pursue Your Dreams.

[Emmanuel Nii Kabutey Mensah @kabuteymends]

You can’t go for these events if you haven’t made it in life.

[SIKAOFFICIAL🦍 @SIKAOFFICIAL1]

The MOBA Experience; Old boys of Mfantsipim School joined students and teachers in the celebration of the school’s 148th Speech and Prize Giving Day on last weekend.

The event, made even more special this year, as the celebration coincides with the MOBA ’04 Group’s 20th Anniversary and the school’s newly won NSMQ title.

[Emmanuel Nii Kabutey Mensah @kabuteymends]

@ChampionsLeague Messi will never do this.

[Emmanuel Nii Kabutey Mensah @kabuteymends]

@Fatimatu_A Concert !

[Emmanuel Nii Kabutey Mensah @kabuteymends]

@GyapKay 😂😂

[Emmanuel Nii Kabutey Mensah @kabuteymends]

@TwoTerty__ Asare conceded 2 goals in our last game. Before he was given the nod, Zigi was the coach’s first choice.

[Emmanuel Nii Kabutey Mensah @kabuteymends]

@jayyd4L 😂😂

[Emmanuel Nii Kabutey Mensah @kabuteymends]

😂😂😂

[Kwaku Lotteryy @kwakulotteryy]

Jack Alolome Ghanaian Gospel Musician narrates his USA 🇺🇸 Embassy experience. This is funny

[Emmanuel Nii Kabutey Mensah @kabuteymends]

@_GhChronicles 😂😂😂

[Emmanuel Nii Kabutey Mensah @kabuteymends]

@Fentuo_ How?

[Emmanuel Nii Kabutey Mensah @kabuteymends]

Is this news?

[Fabrizio Romano @FabrizioRomano]

🚨🇫🇷 Rayan Cherki, on the bench for France World Cup debut…

…as Olise, Dembélé, Doué and Mbappé start upfront.

[Emmanuel Nii Kabutey Mensah @kabuteymends]

@3SportsGh An FA President who moves around with the BlackStars more than the rest of the national teams. 😂

[Emmanuel Nii Kabutey Mensah @kabuteymends]

@cdrafrica Not when you are refusing to get rid of the corrupt leaders and acts.

[Emmanuel Nii Kabutey Mensah @kabuteymends]

Meanwhile we have thousands of unemployed graduates here.

[Joy 99.7 FM @Joy997FM]

Ibrahim Mahama and the CEOs of AirtelTigo and Telecel have expressed willingness to offer jobs to Ghanaians returning from South Africa, says Foreign Affairs Minister Samuel Okudzeto Ablakwa.

#JoyNews

[Emmanuel Nii Kabutey Mensah @kabuteymends]

Who doesn’t know these awards are bought?

[SIKAOFFICIAL🦍 @SIKAOFFICIAL1]

The Greater Accra Regional Minister, Hon. Linda Ocloo has won the Best Regional Minister Award at the 6th Ghana Ministers of State Excellence Awards.

[🎥: 3Music]

[Emmanuel Nii Kabutey Mensah @kabuteymends]

Then it’s definitely Benjamin Asare.

[Fabrizio Romano @FabrizioRomano]

🚨💣 Florentino Pérez: “The official €150m bid will NOT be for a Premier League player”.

[Emmanuel Nii Kabutey Mensah @kabuteymends]

@BongoIdeasHQ True !

[Emmanuel Nii Kabutey Mensah @kabuteymends]

To ?

[Italy ⭐️⭐️⭐️⭐️ @Azzurri_En]

En route ✈️

@ITAAirways #Azzurri #VivoAzzurro

[Emmanuel Nii Kabutey Mensah @kabuteymends]

Ernest Nuamah!

[Emmanuel Nii Kabutey Mensah @kabuteymends]

Cherki 😂

[Emmanuel Macron @EmmanuelMacron]

L’équipe !

[Emmanuel Nii Kabutey Mensah @kabuteymends]

@officiallogoutt 😂😂😂

[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.