January 2023 - Page 23 of 81

24 Jan

Govt Reaches Revised Agreement With Banks; Govt To Pay 5% Coupon This Year

wontumionlineBusiness

The government has agreed to pay five per cent coupon (interest) on bonds for this year. It will also pay a single coupon of nine per cent on the 12 new bonds it proposes to issue to domestic bondholders who tender their old bonds. The government and the bankers also agreed on the removal or amendment of all clauses in the Exchange Memorandum that empowered the Republic to, at its sole discretion, vary the terms of the exchange. Statement The parties issued the statement after a crunch meeting Monday (Jan 23, 2023) to negotiate new designs and concessions to make…

24 Jan

I’ve Never Used ‘Juju’ In My Entire Life…God Will Punish Big Akwes – Frank Naro Cries

wontumionlineShowbizBig Akwes, Frank Naro

Actor cum musician Frank Naro has set the record straight on allegations chiefly peddled around by his colleague actor, Big Akwes, that he has been consulting “juju” powers. Frank Naro, in an interview with Abeiku Santana on Okay FM’s “Ekwanso Dwoodwoo”, tearfully stated categorically that he has never in his life and in his acting career used juju nor gone to seek voodoo powers from nowhere. He stated that all that Big Akwes is saying in public is nothing but falsehood and slander at his personality. He stressed his success has nothing to do with money rituals nor any evil…

24 Jan

Insults And Criticisms Made Me Stronger – Asamoah Gyan

wontumionlineSportsAsamoah Gyan

Ex-Ghana striker Asamoah Gyan has revealed that insults and harsh criticism from Ghanaians made him develop a tough skin. The 37-year-old disclosed that he was only used to being pampered before he ventured into professional football. It will be recalled that Gyan was one of the most vilified players during the 2008 AFCON hosted by Ghana, having been targeted by the home fans for his wastefulness in front of goal. <img class="image lazyloaded imgWithMetaData" title="Asamoah Gyan " src="data:;base64," alt="Asamoah Gyan " width="620" height="465" data-original="https://ocdn.eu/pulscms-transforms/1/hQSktkpTURBXy83NGIyNmRhMmJjZWNlZGI3OTQ0YzlkZjMzNDNjMDUwYS5qcGeRlQLNAmzNAdHCww" /> Asamoah Gyan The criticisms were so severe that the striker, then just 22, planned to leave camp…

24 Jan

Powerlifters To Do Battle At 2023 Powerlifting Competition

wontumionlineSportspower lifting competitions

Fans of powerlifting in the country will enjoy their first major treat of the year as the best powerlifters in the country are expected to do battle at the 2023 edition of the Powerlifting Competition. Organized by the Van Calebs Empire, the competition which is scheduled for March 3, 2023 will draw the crème-de-la-crème of powerlifters in the country to compete for honors and cash prizes. The competitors will battle in the areas of squat, bench press, and deadlifting with seasonal umpires and officials overseeing the event. In an interview with GhanaWeb, Van Calebs who is the Chief Executive Officer…

24 Jan

‘Stay Put’ Despite Optimism — IMF’s Georgieva Urges Monetary Authorities

wontumionlineBusinessimf

The managing director of the International Monetary Fund (IMF) has urged the international community to stay realistic about the prospects of an economic recovery. At the World Economic Forum’s Annual Meeting in Davos and beyond, a sense of cautious optimism over the global economic future is emerging. Inflation appears to be plateauing, and moderate growth, rather than an out-and-out recession, is expected, including by economists participating at Davos. Speaking at the closing meeting of the Forum’s Annual Meeting, Global Economic Outlook: Is this the End of an Era?, Kristalina Georgieva, Managing Director of the IMF, has urged realism in the…

24 Jan

The Year Ahead

wontumionlineBusinessinflation rate

Note: The numbers in the graphs may not add up to 100 per cent because figures have been rounded up/down. The survey also highlighted significant regional divergence in growth expectations within a general pattern of weakened expectations relative to the last survey. The situation in Europe and the US is now stark, with 100 per cent of chief economists expecting weak or very weak growth this year in the former and 91 per cent expecting weak or very weak growth in the latter. This marks a significant deterioration in recent months: at the time of the last survey, the corresponding…

24 Jan

CHAN 2022: Madagascar Tops Group C As Ghana Finishes Second

wontumionlineSportsCHAN 2022, Ghana, Madagascar

Madagascar ended their group campaign as the leaders in Group C following a thumping win over Sudan in their final game. The southern Africans scored three goals in the first half of the game on Monday night and held on to complete the game without conceding a goal. Olivier Tokinantenaina opened the scoring just 13 minutes into the fixture before Solom Raza and Lalaina Rafanomezantsoa got onto the scoresheet to extend the lead for Madagascar. The win sees Madagascar take nine points from three games having been awarded three points for Morocco’s no-show at the tournament while also beating Ghana…

24 Jan

The GFA Wants Someone They Can Manipulate – Sam George On Black Stars Coaching Role

wontumionlineSportsBlack Stars, chris Hughton, GFA, Sam George

Member of Parliament for Ningo-Prampram, Samuel Nartey George, says the Ghana Football Association (GFA) has already concluded their appointment of the next Black Stars head coach. According to him, the Ghana FA has decided to appoint Chris Hughton as the successor of Otto Addo following the latter’s resignation from the role after the Black Stars exit from the 2022 FIFA World Cup. The role has been vacant since Addo left immediately after Ghana’s exit in Qatar with the Sports Minister, Mustapha Ussif, recently hinting that a new gaffer is close to being appointed. However, Sam George believes that decision has…

24 Jan

Ghana’s Sovereign Bonds Were Already In ‘Junk Status’ Prior To Russia/Ukraine War” – AfDB

wontumionlineBusinessAfrica’s Macroeconomic Performance and Outlook, African Development Bank, distressed

Ghana’s sovereign bonds were already trading distressed prior to Russia’s invasion of Ukraine, the Africa Development Bank’s 2023 Africa’s Macroeconomic Performance and Outlook has revealed. This it said was due to fiscal concerns and widening spread which has expanded further by more than 1,500 basis points since August 2022. The report said the debt vulnerabilities are likely to linger as countries such as Ghana continue to grapple with the economic shocks from the COVID-19 pandemic and Russia’s invasion of Ukraine. At the end of September 2022, 23 African countries were either in debt distress (8 countries) or at high risk of debt…

24 Jan

Ghana’s Eurobonds Decline As Government Offer Better Terms To Local Securities Investors

wontumionlineBusinesseurobonds, Investors

Ghana’s dollar bonds have fluctuated as concerns rise over the government’s offer of better terms to investors in local government securities, which may shift a bigger burden of a planned restructuring onto holders of the external debt. The eurobond maturing January 2026, on which the nation missed a coupon payment last week, was little changed after S&P Global Ratings downgraded the note to default. Securities due 2027 and 2035, on which coupon payments are due next month, fell marginally. Ghana’s three-pronged approach to its debt restructuring, which includes a swap for local securities, a suspension of payments on eurobonds, and…