Ghana's estimated population currently stands at 22 million people. Out of this population, each Ghanaian owes US$350 to the country's creditors, both internally and externally, as against $359 in 2008.
Ghana's total public debt has declined slightly from US$7,918.1 million, a 54.6 per cent of Gross Domestic Product (GDP) in 2008, to US$7.742.4 million, representing 49.2 per cent of GDP for the first quarter of 2009.
Out of this figure (US$7.742.4m), the stock of domestic debt, which stood at GH¢4,778.1 million at the end of last year (2008), increased to GH¢5,083.5 million, representing 23.7 per cent of GDP at the end of the first quarter of 2009.
External debt also stood at US$4,010.2 million at the end of the first quarter of this year (March 2009), up from US$3, 982.6 million (28.1 per cent of GDP) at the end of last year (2008).
This was made known by the Chairman of the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG), Dr. Paul Acquah, at a press briefing in Accra yesterday.
According to him, provisional banking data on fiscal operations during the first quarter of 2009 indicate that domestic revenue growth continued to be strong at a slower pace than it was at same time the previous year (2008).
Ghana's total revenue and grants for the first quarter of 2009, amounted to GH¢1,308.1 million, representing 6.1 per cent of GDP, compared with GH¢1,129.2 million (6.4 per cent) for the same period in 2008.
"This was however, higher than the historical average of 5.8 per cent of GDP between 2004 and 2008," Dr. Paul Acquah noted.
Dr. Paul Acquah observed that total revenue and grants in year on year terms, increased by 15.8 per cent, compared with 11.0 per cent recorded in 2008.
Grants to the country amounted to GH¢244.3 million (1.1 per cent of GDP) in the first quarter of 2009, as against GH¢225.5 million (1.3 per cent of GDP) recorded for the same period in 2008.
This means the country, in the first quarter of 2009, saw an increase of GH¢18.8 million in grants, as compared to the same period last year.
Ghana's total expenditure, excluding foreign financed capital expenditure for the first quarter of 2009, amounted to GH¢1,249.2 million, representing 5.8 per cent of GDP, compared with GH¢1,265.3 million (7.2 per cent of GDP) for the same period in 2008.
Wages and salaries amounted to GH¢558.5 million, compared with GH¢549.1 million for the same period in 2008.
According to Dr. Paul Acquah, the fiscal operations during the first quarter in 2009, resulted in a deficit of GH¢194.7 million, a 0.9 per cent of GDP (excluding foreign financed capital expenditure), compared with a deficit of GH¢275.6 million for the same period in 2008.
Dr. Acquah said the deficit of GH¢194.7, in addition to a foreign loan repayment of GH¢48.7 million were financed from domestic sources to the tune of GH¢243.4 million, representing 1.1 per cent of GDP.
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Thursday, May 14, 2009
Obsolete equipment thwarting power supply in Ghana –GRIDCO
Recent power outages in the country have been linked to overaged and worn-out equipment in the transmission network, according to the Ghana Grid Company Limited (GRIDCO), the main operator of the entire power system.
The power system in the country comprises; generating system, transmission system and distribution system, which GRIDCO contends that any problem with these systems may affect power supply to the consumer.
With four major power stations at Akosombo, Kpong, Aboadze and Tema, that supply about 4500 km of high voltage transmission lines across the country, GRIDCO said its power network was often faced with numerous challenges which include overloaded facilities, due to inability to increase capacity to match demand, system security and the use of AFLS, and the lack of spare parts to replace worn-out equipment.
At a press briefing on the state of the national power system in Accra recently, GRIDCO noted that it had outlined some activities to improve upon its systems performance and reliability, by reducing the effects of some of its challenges in the transmission network.
Officials of the company said the construction of transmission lines between Kumasi and Obuasi, Aboadze and Tema would be completed in July and at the end of the year respectively, whilst that of the Accra 3rd Bulk Supply Point at Agyirigano, would also be completed by the end of the year 2010.
The company said it would double the capacity of the Mallam substation to improve power supply to Accra West by the end of the year. It also gave assurance of the completion of the Kumasi 2nd Bulk Supply Point in 2011.
GRIDCO said it would make replacements of all equipment at the Volta and Akosombo switching stations, in order to improve on its services to the nation.
It however promised to ensure theh continuous maintenance and operation of the National Interconnected Transmission System (NITS), even under difficult conditions, whilst it would ensure timely completion of its planned projects, aimed at improving on its transmission system.
The power system in the country comprises; generating system, transmission system and distribution system, which GRIDCO contends that any problem with these systems may affect power supply to the consumer.
With four major power stations at Akosombo, Kpong, Aboadze and Tema, that supply about 4500 km of high voltage transmission lines across the country, GRIDCO said its power network was often faced with numerous challenges which include overloaded facilities, due to inability to increase capacity to match demand, system security and the use of AFLS, and the lack of spare parts to replace worn-out equipment.
At a press briefing on the state of the national power system in Accra recently, GRIDCO noted that it had outlined some activities to improve upon its systems performance and reliability, by reducing the effects of some of its challenges in the transmission network.
Officials of the company said the construction of transmission lines between Kumasi and Obuasi, Aboadze and Tema would be completed in July and at the end of the year respectively, whilst that of the Accra 3rd Bulk Supply Point at Agyirigano, would also be completed by the end of the year 2010.
The company said it would double the capacity of the Mallam substation to improve power supply to Accra West by the end of the year. It also gave assurance of the completion of the Kumasi 2nd Bulk Supply Point in 2011.
GRIDCO said it would make replacements of all equipment at the Volta and Akosombo switching stations, in order to improve on its services to the nation.
It however promised to ensure theh continuous maintenance and operation of the National Interconnected Transmission System (NITS), even under difficult conditions, whilst it would ensure timely completion of its planned projects, aimed at improving on its transmission system.
Monday, May 4, 2009
GIA initiates move to develop Ghana properly-calls for harmonisation in built environment
The Ghana Institute of Architects (GIA) has called for the harmonisation of all regulatory bodies and other stakeholders in the built environment into one umbrella, for the effective implementation of policies and the planning of the cities and towns in the country.
Currently, there are twenty two (22) regulatory institutions/agencies and other stakeholders in the built environment, but the GIA contends that their performance over the years has not been satisfactory, and therefore not conforming to the country’s poverty reduction strategy.
“Each of them has a role to play in the built environment of the country as mandated by law, but none of them has performed as expected. The situation regarding the built environment in Ghana today does not seem to satisfy the tenets of the Ghana Poverty Reduction Strategy (GPRS), nor the common sense approach,” noted Kwame Osei Agyemang, President of the GIA.
This was made known in Accra last Thursday at a press soiree organised by the GIA, to share with the public its findings in a research conducted into the built environment of the country. The research project was dubbed, “Addressing the adverse impact of non-enforcement of building and development controls.”
The development of the built environment has been guided overtime by a number of laws, some of which are the Town and Country Planning Ordinance (CAP 84) promulgated in 1945 and updated within the period 1954-1960, the National Building Regulations (LI 1630), 1996, the Local Government Act, 1993 (Act 462), the 1992 Constitution of the Republic of Ghana, and many other supporting laws, bye-laws and codes, most of which have not seen any major review over the time period.
Despite the existence and implementation of the above-mentioned regulations, the built environment was deteriorating at an alarming rate, especially within the urban centers, and also a number of rural communities which have experienced increased population growth.
To this end, the GIA says the regulatory institutions/agencies and other stakeholders in the built environment, needed backing to effectively perform in the discharge of their duties, and therefore proposed to the Government of Ghana (GoG) to accelerate the synchronisation of all the regulatory bodies under one umbrella.
“When they come under one umbrella, they will have a common vision and purpose in the development of the country,” noted the GIA President.
Regulators and other stakeholders in the built environment include the Town and Country Planning Departments, the Land Title Registry Department, the Department of Urban Roads, the Environmental Protection Agency, the Ghana National Fire Service, the Factory Inspectorate Division, the Environmental Health Department and the Public Works Department (PWD).
The rest are Ministry of Works and Housing, Ghana Water Company Limited (GWCL), Electricity Company of Ghana (ECG), the telecommunications industry, Energy Commission, Water Resources Commission, National Petroleum Authority, Ghana Tourist Board, Ghana Civil Aviation Authority (GCAA) and the Professional Bodies of the Built Environment.
The eight (8) page document states that the problem of inadequate enforcement of the Ghana Building Regulations (LI 1630) and other development controls, has adversely affected the urban and rural landscape in the country.
According to the GIA, the perceived non-enforcement of the controls and regulations was also reflected in the quality of the built environment, which is characterised by the development of unplanned settlements, slum development and the disregard of planning and zoning schemes.
“This has resulted in the haphazard and amorphous infrastructural development, facilitating flooding and the collapse of buildings,” noted the report. According to the report, the disregard for planning schemes had further led to the sprawl of uncontrolled development of both urban and sub-urban areas, which it said, had contributed to the enormous pressure on the distribution of infrastructural services like water, electricity, road networks and poor accessibility.
The report stated: “The situation has created an upward surge in mixed development, which in certain instances, has a negative impact on health, and is often hazardous to life.”
The report therefore recommended that there should be harmonisation of the procedures for the Building and Development Control to develop one standard set of regulations for the assemblies to operate with.
That the Government of Ghana (GoG) should endeavour to create a one-stop-shop to house all stakeholders for the building and development control procedures for easy implementation.
That the various assemblies should indicate a deadline to query revisions to forestall delays, and these should be communicated to clients. That computerisation of all assemblies, involving every drawing submission for building and development control, to ensure proper record keeping of files/archival management.
That, until the laws are harmonised, and clear cut roles and responsibilities redefined, District Chief Executives (DCE’s) should not sign permitting approval documentation.
That, the GoG should endeavour to make it statutory for a periodic review of the National Building Regulations, LI 1630.
That, Chiefs/Landowners should be sensitised on development, and this should be included under the current advocacy programme being implemented by the GIA, and the Business Sector Advocacy Challenge (BUSAC) Fund.
The report further recommended that there should be structural plans for all major cities in the country, which should be implemented to the letter, with enforcement and penalties.
That Municipal/Metropolitan Assemblies should be encouraged to acquire properties after the expiration of leases, to ensure good correlation between
planning schemes and policy.
That the Assemblies, together with stakeholders within the built environment, should be mandated to develop a vision for the development of all cities/towns/villages in the country.
That, Regulations/Laws should have dependencies which will enforce all developers to conform
That, small plot development should not be encouraged in the development of the Central Spine/Core area, and this should be backed by law/regulation. That, the GoG/Assemblies should be encouraged to implement holistic settlement designs against the habit of dealing with individual building plots development, which provides comprehensive solutions for sanitation and drainage among others, and that the GoG should set up an oversight body, under the National Development and Planning Commission (NDPC) to oversee physical development.
The GIA however encouraged the GoG to build a Police Force to ensure that building does not commence without a permit.
Currently, there are twenty two (22) regulatory institutions/agencies and other stakeholders in the built environment, but the GIA contends that their performance over the years has not been satisfactory, and therefore not conforming to the country’s poverty reduction strategy.
“Each of them has a role to play in the built environment of the country as mandated by law, but none of them has performed as expected. The situation regarding the built environment in Ghana today does not seem to satisfy the tenets of the Ghana Poverty Reduction Strategy (GPRS), nor the common sense approach,” noted Kwame Osei Agyemang, President of the GIA.
This was made known in Accra last Thursday at a press soiree organised by the GIA, to share with the public its findings in a research conducted into the built environment of the country. The research project was dubbed, “Addressing the adverse impact of non-enforcement of building and development controls.”
The development of the built environment has been guided overtime by a number of laws, some of which are the Town and Country Planning Ordinance (CAP 84) promulgated in 1945 and updated within the period 1954-1960, the National Building Regulations (LI 1630), 1996, the Local Government Act, 1993 (Act 462), the 1992 Constitution of the Republic of Ghana, and many other supporting laws, bye-laws and codes, most of which have not seen any major review over the time period.
Despite the existence and implementation of the above-mentioned regulations, the built environment was deteriorating at an alarming rate, especially within the urban centers, and also a number of rural communities which have experienced increased population growth.
To this end, the GIA says the regulatory institutions/agencies and other stakeholders in the built environment, needed backing to effectively perform in the discharge of their duties, and therefore proposed to the Government of Ghana (GoG) to accelerate the synchronisation of all the regulatory bodies under one umbrella.
“When they come under one umbrella, they will have a common vision and purpose in the development of the country,” noted the GIA President.
Regulators and other stakeholders in the built environment include the Town and Country Planning Departments, the Land Title Registry Department, the Department of Urban Roads, the Environmental Protection Agency, the Ghana National Fire Service, the Factory Inspectorate Division, the Environmental Health Department and the Public Works Department (PWD).
The rest are Ministry of Works and Housing, Ghana Water Company Limited (GWCL), Electricity Company of Ghana (ECG), the telecommunications industry, Energy Commission, Water Resources Commission, National Petroleum Authority, Ghana Tourist Board, Ghana Civil Aviation Authority (GCAA) and the Professional Bodies of the Built Environment.
The eight (8) page document states that the problem of inadequate enforcement of the Ghana Building Regulations (LI 1630) and other development controls, has adversely affected the urban and rural landscape in the country.
According to the GIA, the perceived non-enforcement of the controls and regulations was also reflected in the quality of the built environment, which is characterised by the development of unplanned settlements, slum development and the disregard of planning and zoning schemes.
“This has resulted in the haphazard and amorphous infrastructural development, facilitating flooding and the collapse of buildings,” noted the report. According to the report, the disregard for planning schemes had further led to the sprawl of uncontrolled development of both urban and sub-urban areas, which it said, had contributed to the enormous pressure on the distribution of infrastructural services like water, electricity, road networks and poor accessibility.
The report stated: “The situation has created an upward surge in mixed development, which in certain instances, has a negative impact on health, and is often hazardous to life.”
The report therefore recommended that there should be harmonisation of the procedures for the Building and Development Control to develop one standard set of regulations for the assemblies to operate with.
That the Government of Ghana (GoG) should endeavour to create a one-stop-shop to house all stakeholders for the building and development control procedures for easy implementation.
That the various assemblies should indicate a deadline to query revisions to forestall delays, and these should be communicated to clients. That computerisation of all assemblies, involving every drawing submission for building and development control, to ensure proper record keeping of files/archival management.
That, until the laws are harmonised, and clear cut roles and responsibilities redefined, District Chief Executives (DCE’s) should not sign permitting approval documentation.
That, the GoG should endeavour to make it statutory for a periodic review of the National Building Regulations, LI 1630.
That, Chiefs/Landowners should be sensitised on development, and this should be included under the current advocacy programme being implemented by the GIA, and the Business Sector Advocacy Challenge (BUSAC) Fund.
The report further recommended that there should be structural plans for all major cities in the country, which should be implemented to the letter, with enforcement and penalties.
That Municipal/Metropolitan Assemblies should be encouraged to acquire properties after the expiration of leases, to ensure good correlation between
planning schemes and policy.
That the Assemblies, together with stakeholders within the built environment, should be mandated to develop a vision for the development of all cities/towns/villages in the country.
That, Regulations/Laws should have dependencies which will enforce all developers to conform
That, small plot development should not be encouraged in the development of the Central Spine/Core area, and this should be backed by law/regulation. That, the GoG/Assemblies should be encouraged to implement holistic settlement designs against the habit of dealing with individual building plots development, which provides comprehensive solutions for sanitation and drainage among others, and that the GoG should set up an oversight body, under the National Development and Planning Commission (NDPC) to oversee physical development.
The GIA however encouraged the GoG to build a Police Force to ensure that building does not commence without a permit.
Friday, May 1, 2009
Again! Kufuor's New BMW Seized At Port for 'Wrong Procedure in Clearing'
The National Security has impounded a seven series BMW customized car, which was imported into the country by former President John Agyekum Kufuor.
According to sources, the vehicle was impounded at Safe Bond, one of the warehouses at Tema Harbour, around 10am on Monday, upon a tip off. A National Security source, which confirmed the seizure said his outfit had mounted surveillance at the Tema Port throughout the weekend, after being informed that the former President had ordered three customized cars, and that one of them would arrive into the country over the weekend.
He said though the car did arrive, the importer managed to elude them.
Chronicle gathered that some operatives of National Security chanced upon some people who had gathered around a car yesterday, and murmuring to each other that "this is former President Kufuor's vehicle", "this is Omanpanin dada's car".
That drew their attention to the scene, and they radioed for cross checking and moved in quickly to impound it.
The security source noted that had the former President done the right thing by passing through the correct procedure at the National Security, the State Protocol would have done the clearing for him, but he would now have to wait for directives from the hierarchy of National Security.
"The right thing should be done at the right time. We shouldn't be repeating things all over. It doesn't augur well for the country", the security source said.
Mr. Frank Agyekum, Spokesperson for ex-President Kuffuor, when reached on his mobile phone said he had no knowledge about the President's impounded car, he answered incredulously.
According to sources, the vehicle was impounded at Safe Bond, one of the warehouses at Tema Harbour, around 10am on Monday, upon a tip off. A National Security source, which confirmed the seizure said his outfit had mounted surveillance at the Tema Port throughout the weekend, after being informed that the former President had ordered three customized cars, and that one of them would arrive into the country over the weekend.
He said though the car did arrive, the importer managed to elude them.
Chronicle gathered that some operatives of National Security chanced upon some people who had gathered around a car yesterday, and murmuring to each other that "this is former President Kufuor's vehicle", "this is Omanpanin dada's car".
That drew their attention to the scene, and they radioed for cross checking and moved in quickly to impound it.
The security source noted that had the former President done the right thing by passing through the correct procedure at the National Security, the State Protocol would have done the clearing for him, but he would now have to wait for directives from the hierarchy of National Security.
"The right thing should be done at the right time. We shouldn't be repeating things all over. It doesn't augur well for the country", the security source said.
Mr. Frank Agyekum, Spokesperson for ex-President Kuffuor, when reached on his mobile phone said he had no knowledge about the President's impounded car, he answered incredulously.
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