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Friday, March 11, 2016

 
 Paul Acquah to resign by the end of August
Audrey Micah. Ghanadot

Accra, Aug 14, Ghanadot - The Governor of the Bank of Ghana, Paul Acquah will resign at the end of the month, taking his accumulative leave. The central bank, which gained greater autonomy in 2001 has been central to the macro-economic stability of the last 8 years.

His decision to resign, according to insiders has been triggered by 'fundamental differences on the way the economy is run."

Though Dr Acquah is known to support inflation-targeted fiscal policy he is said to be most uncomfortable about what is seen as a "renewed overbearing influences" of the World Bank and the International Monetary Fund since the National Democratic Congress returned to power in January this year.

One of the major decisions by the new government was to force the second Deputy Governor of the Bank, Mahamudu Bawumia out, for contesting as Nana Akufo-Addo's running mate in the December presidential election. Next to resign was Van Lare Dosoo, the first deputy governor.

This means that by the second half of this year, the three men who steered the remarkable economic management which led to a rapid liquidity in the financial sector and significant stabilisation of the economy will no longer be at post.


Total revenue and grants witnessed an annual growth of 23.5 percent but accounts for only 84 percent of the target for the first six months of 2009. Also only 42.6% of public sector wages were paid in the first half, as government struggled to maintain its budgetary ceiling on the wage bill.

Scientific breakthrough: Ghana to produce vital water treatment substance

Accra, Aug 14, Ghanadot - Ghana is to produce potassium permanganate, a chemical used in the treatment of water.
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