West Africa needs to integrate - Gbeho
Internal Revenue rakes in 728bnC
Fuel price hike fuelling inflation
Democracy NPP style…MPs against primaries
NPP gets set for 2000
West Africa needs to integrate - Gbeho
The Ghanaian Times reports Ghana's Foreign Minister, Mr James Victor Gbeho, as saying that regional integration in West Africa is better than forming rival bodies in the sub-region with the same functions. In a front-page story, the Times quotes Mr Gbeho as saying, for instance, that the formation of the Economic and Monetary Union of West Africa (UEMOA) by the Francophone states, 18 years after the formation of the Economic Community of West African States (ECOWAS) could lead to the disintegration in the region.
The UEMOA has objectives similar to those of ECOWAS and has assumed a high profile with external support. Mr Gbeho is said to have expressed the concern when he opened a two-day workshop on "Regional integration in West Africa, the way forward" in Accra.
The workshop is being organised by the Legon Centre for International Affairs (LECIA), to debate with policy makers, implications of UEMOA on regional integration. The Times says that while some argue that it is to speed up integration in the region and to complement efforts by ECOWAS, Mr Gbeho thinks otherwise. He said that while UEMOA member states implemented their objectives to the letter, they had shown great disinterest in ECOWAS activities, thus leading to a division in the sub-region.
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High street Journal
Internal Revenue rakes in 728bnC
In a front-page story, the High Street Journal says by the end of October this year, the Internal Revenue Service (IRS), had collected tax revenue amounting to 728.868 billion cedis.
The target was 817.246 billion cedis. Therefore the revenue shortfall by October ending amounted to 88.38 billion cedis, representing 11% deviation from the programmed target. The paper says that the revenue from the IRS, together with that from value added tax (VAT), constitutes tax revenue. According to the High Street Journal, the government, in its fiscal policy for this year, estimated to earn 3,294 billion cedis from tax sources.
The paper says VAT figures by end of October were not available and therefore could not say what the total tax revenue for the period was, which would have made it possible to compute the performance of tax revenue to end of October.
The story says, however, that on a stand alone basis, the 728.868 billion cedis collected by the IRS by end of October, was not enough to offset the 737 billion cedis which the government said was its target for payment of interest on domestic debt this year.
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The Statesman
Fuel price hike fuelling inflation
The Statesman in its top story observes that recent increases in the prices of petroleum products have been the major contributory factor to the current surge in inflation in Ghana.
The paper, which was quoting economic experts, reports Prof. Kwadwo Asenso-Okyere, Director of the Institute of Statistical, Social and Economic Research of the University of Ghana, Legon, as putting inflation at the end of November to 13.6%. Prof. Asenso-Okyere was contributing to a panel discussion on the economy of Ghana, organised by the institute.
Referring to end-of-year inflation, which rose to a little over 70% in 1995 and was reduced to 15% at the end of 1998, he said that inflation was brought down to about 9% last April, until the increases in fuel prices and the steep exchange rate depreciation sent it up to 12.6% in October and 13.6% in November.
According to Prof. Asenso-Okyere, this is expected to rise by the end of the year. The Statesman notes that there has been an unprecedented five-times increase in the prices of fuel this year alone, with petrol for instance, rising from 744.44 cedis per litre in January to 1,180 cedis in December, while kerosene has risen from 500 cedis to 1,100 cedis within the same period.
The Statesman quotes a former Deputy Governor of the Bank of Ghana, S.K. Apea, as urging the government to provide the necessary leadership and inspire confidence rather than create doubts and uncertainties about its grasp of the economy.
The paper says that Mr Apea, while bemoaning Ghana's low income, fragile and slow-growing economy, blamed the inefficiencies in the quality of governance for the disillusioned state of Ghanaians and the economy.
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Ghana Palaver
Democracy NPP style…MPs against primaries
The Ghana Palaver reports that fresh evidence has emerged that the NPP national executive committee is deeply fractured with a section of the 'old guards' pitched against the relatively young Dan Botwe and his 'cohorts' over the issue of the retention of NPP sitting MPs.
In a page story, the paper says that its investigations revealed pent-up feelings among the pro-Kufuor clique over attempts by their perceived enemies from within to stampede their programmes of purging the Kufuor administration of the undesirables.
According to the Palaver, the undesirables are those NPP MPs, who opposed Kufuor's re-election but want to enjoy the same privilege they sought to deny him of at the October 24, 1998 congress of the party.
The paper says that Mr Dan Botwe, the NPP general secretary, has his back against the wall for 'daring to open his mouth wide', claiming that the 61 MPs of the party are to be retained. It says that the pro-Kufuor clique is said to be after Botwe's blood for making such 'a reckless pronouncement'.
The palaver says that the confusion over the retention of sitting MPs has compelled a section of the national executive committee to hold secret meetings behind Dan Botwe and his cohorts.
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The Independent
NPP gets set for 2000
In its lead story, the Independent says that the NPP believes that the year 2000 is a make or break year for the party and Ghana and is, therefore, not resting on its oars, but taking every step to ensure that the party dislodges the NDC from power.
According to the paper, the general secretary of the NPP, Dan Botwe, spoke about a wide range of activities that the party has been planning and undertaking, mostly on the quiet, to win election 2000.
The Independent says that at the congress of the Ablekuma Central branch of the NPP, Jake Obetsebi-Lamptey, Greater Accra Regional chairman of the party, sounded the clarion call for vigilance on the part of party members in the battle ahead.
Mr Botwe is said to have announced that the NPP has used the past year working hard in the background to lay the foundation for the difficult task ahead that involves kicking out an incumbent party that "shamelessly over-exploits its incumbency".
To address the situation, he is reported as saying that the NPP is depending on its numerous supporters and members in Ghana and abroad.
The Independent quotes sources close to the party as saying that the already launched fund-raising coupons are in that direction, adding that the 5,000-cedi coupons would afford ordinary members the chance to contribute to the electoral campaign of the NPP with their 'widow's mite'.
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