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| Africa Subsaharan |
| Ghanaian president's campaign pledges on graft war haunt him |
| 2011-12-22 |
| [Daily Nation (Kenya)] If Ghana's President John Atta Mills is to fight next year's election solely on the growth of the country's economy, he would win by a big margin. Unfortunately, cases of corruption against some of his ruling National Democratic Congress (NDC) officials are giving the opposition ammunition to dent his image. The economy is booming, buoyed by a nascent oil industry and this should have given President Mills little headache in his bid to be re-elected next year. But his failure to keep his pledge on stamping out corruption and drug trafficking has come to haunt him. Information minister Mr John Akologo-Tia told the media in Accra that the government has given the country the most stable macroeconomic climate in Ghana's entire history. "Inflation which stood at a worrying 18.1 per cent in 2008 now stands at 8.55 per cent and has been at single digit for 18 months. This is the longest ever sustained period of single digit inflation in Ghana's entire history," Mr Akologo-Tia said. In the financial sector, interest rates continue to decline. This is evidenced by the significant reduction in the yield of the 91 day money market instrument from 24.67 per cent in 2008 to 9.1 per cent in September 2011, making it the lowest recorded money market rate in decades. |
| Posted by:Fred |
| #1 A "Miss Me Yet?" bumper sticker with Jerry Rawlings picture on it? |
| Posted by: M. Murcek 2011-12-22 00:11 |