MAHAMA SUSPENDS CHIEF JUSTICE President John Mahama has suspended the Chief Justice, Gertrude Torkornoo. This follows the establishment of a committee to investigate petitions against the top judicial official. The move, announced in a statement from the Presidency, is in compliance with constitutional provisions and follows consultations with the Council of State. The President cited Article 146(6) of the Constitution, which mandates the establishment of a committee to probe allegations against a superior court judge if a prima facie case is established. According to the statement, President Mahama determined that sufficient grounds exist to warrant further inquiry. The committee tasked with investigating the petitions comprises individuals from various sectors: Justice Gabriel Scott Pwamang – Justice of the Supreme Court Justice Samuel Kwame Adibu-Asiedu – Justice of the Supreme Court Daniel Yaw Domelevo – Former Auditor-General Major Flora Bazwaanura Dalugo – Ghana Armed Forces Professor James Sefah Dzisah – Associate Professor, University of Ghana In accordance with Article 146(10) of the Constitution and upon the advice of the Council of State, President Mahama issued a warrant suspending the Chief Justice with immediate effect pending the outcome of the committee’s proceedings. 22nd April,2025

CHINA STANDS BY GHANA China will not relent in its efforts to support Ghana in diverse ways to drive growth and development, the Ambassador of China to Ghana, H.E. Tong Defa, has stated. China is Ghana's largest trading partner and a major source of foreign investment, with bilateral trade volume reaching as high as $11.84 billion in 2024. While Ghana primarily exports raw materials to China, it imports a wide range of manufactured goods. On the back of an increase in gross domestic product (GDP) in 2024 to CNY 134.9 trillion (approximately USD 18.4 trillion), a 5 per cent year-on-year increase under the leadership of Chinese President Xi Jinping, the Asian giant is poised to provide even more aid to spur development in Ghana. “China stands ready to strengthen exchanges and collaboration with Ghana in economic development and social governance, working jointly to further develop the China-Ghana strategic partnership,” Ambassador Defa noted. “The enduring friendship between our two nations has yielded fruitful cooperation across various fields. The successful convening of China’s ‘Two Sessions’ sends positive signals to African countries, including Ghana. Africa is the land of hope in the 21st century, for there can be no modernisation of the world without Africa’s modernisation.” In March, the Third Session of the 14th National People’s Congress (NPC) and the Third Session of the 14th National Committee of the Chinese People’s Political Consultative Conference (CPPCC), also known as the ‘Two Sessions’, were successfully concluded in Beijing. The ‘Two Sessions’ are convened annually in Beijing, bringing together nearly 5,000 NPC deputies and CPPCC members representing diverse ethnic groups, regions and political parties across the country. President Xi Jinping engaged in discussions with deputies on state affairs, jointly charted the development course, and formulated blueprints for China’s progress in the New Era. Sharing insights with MyJoyOnline, Ambassador Defa highlighted China’s modernisation of a huge population, targeting common prosperity for all, material and cultural-ethical advancement, harmony between humanity and nature, and peaceful development. “China’s economy has shown resilience, the Chinese market holds vast potential, and Chinese enterprises are brimming with vitality. China also possesses the courage to confront risks and challenges head-on and the confidence to resolve issues effectively. According to the Report on the Work of the Government 2025, we have set the target of GDP growth of around 5 per cent this year with confidence,” he pointed out. A key area of interest is science and technology innovation, and the Chinese envoy made it clear that his country’s innovation capacity has achieved breakthroughs in recent years, with notable advances in integrated circuits, artificial intelligence, and quantum technology. Groundbreaking developments have emerged across multiple frontiers, particularly in humanoid robotics and DeepSeek. The value added by high-tech manufacturing and equipment manufacturing rose by 8.9 per cent and 7.7 per cent respectively, and the output of new-energy vehicles surpassed the 13 million mark. “Promoting integrated advancement in technological and industrial innovation” has been adopted to meet China’s overall requirement for economic and social development. “This strategic deployment not only demonstrates China’s precise grasp of the new development paradigm but also highlights its firm resolve to steer industrial and economic transformation and upgrading through innovation-driven approaches. “The nation’s shift to smart manufacturing will drive science and technology innovations to deliver more benefits to Global South countries,” he outlined. For him, regardless of changes in the external environment, “China will remain steadfast in our commitment to opening up”. China ranks among the world’s fastest-growing major economies, continuing to contribute about 30 per cent to global economic growth. “In the face of counter-globalisation undercurrents that defy economic laws, China has steadfastly sent positive signals to the world, delivering a reassuring message to partners,” he noted. In 2024, China’s total import and export volume reached CNY 43.85 trillion (approximately USD 6 trillion), marking a year-on-year increase of 5 per cent. The increase of USD 290 billion in foreign trade equates to the annual trade volume of a medium-sized economy. The Chinese government has said it remains committed to an independent foreign policy of peace, staying on the path of peaceful development, and firmly pursuing a mutually beneficial opening-up strategy. “We oppose hegemonism and power politics, reject all forms of unilateralism and protectionism, and uphold international fairness and justice. As stated by Wang Yi, Member of the Political Bureau of the CPC Central Committee and Foreign Minister, at the ‘Two Sessions’ press conference: “China is a natural member of the Global South. No matter how the international landscape evolves, we will always keep the interests of the Global South close at heart, remain rooted in the Global South, and join fellow developing countries in writing a new chapter in humanity’s development.” 22nd April,2025

CEDI TO REMAIN STABLE The Ghana Cedi is expected to trade fairly stable against the US dollar this week on the retail market. This is against the backdrop of the Bank of Ghana’s relentless market intervention. Ghana's reserves have seen a sharp growth and the central Bank has been intervening in the forex market to keep the cedi relatively stable. Last week, the Bank of Ghana’s US$254.60 million market intervention sufficiently met demand for the American greenback. As a result, the local unit remained stable versus the US dollar on the retail market, closing at a mid-rate of GH¢15.90/$. However, it depreciated by 2.17% week-on-week against the pound and 2.54% versus the euro. Meanwhile, the cedi started trading yesterday, April 21, 2025, unchanged at GH¢16.00 to one dollar. Its year-to-date loss stood at 2.36%. However, it gained marginally today, April 22, 2024, going for GH¢15.98. Ghana recently reached a Staff Level agreement with the International Monetary Fund (IMF) during the fourth review of the US$3.0bn Extended Credit Facility (ECF). This bolstered market sentiment. 22nd April,2025

DON’T DISCOUNT ECOWAS’S 50 YEARS ACHIEVEMENT The 50-year achievement of the Economic Community of West African States (ECOWAS) in regional integration is something worth celebrating, Dr Omar Alieu Touray, the President of ECOWAS has said. He has therefore urged citizens of West Africa not to discount the achievements in the midst of criticisms of the regional bloc. Speaking in Accra on Tuesday at the official launch of ECOWAS’s 50th anniversary celebrations, Dr Touray acknowledged the difficult political and economic climate but insisted there is still much to celebrate. “In the current context, many would be forgiven for asking if there is anything about ECOWAS that should be celebrated,” he said. “Our response to such citizens is an emphatic yes – and I have my reasons.” He described ECOWAS as the most integrated regional bloc on the African continent, citing the Free Movement Protocol which enables citizens of member states to travel, reside and work across borders without a visa. “Thank God, no ECOWAS member state is among the countries that require Mr. Dangote to hassle,” he said, referencing Nigerian billionaire Aliko Dangote’s recent complaints about travel difficulties across Africa. Trade and Infrastructure Achievements On trade, he pointed to the ECOWAS Trade Liberalisation Scheme (ETLS), which has registered over 15,000 companies and more than 50,000 products for duty-free access across the region. Dr Touray also mentioned the Interconnected System for the Management of Goods in Transit (SIGMAT), now operational in seven countries, as a key initiative reducing customs delays and improving cross-border logistics. Infrastructure, he said, remains a priority. He outlined a 25-year master plan featuring 201 projects across transport, energy, telecoms, and water, valued at $131 billion. Among the flagship initiatives is the 1,028km Lagos–Abidjan highway, estimated at nearly $15 billion and now ready for investment. Other major projects include the Banjul–Dakar–Abidjan corridor, the Abidjan–Praia Maritime route, and energy efforts under the West African Power Pool. He also cited ECOWAS’s $340 million off-grid electricity access programme as part of efforts to close the region’s energy gap. Human development and health On social impact, Dr Touray praised the role of the West African Health Organisation (WAHO) in coordinating regional responses to Ebola, COVID-19, and Mpox. He added that initiatives in climate-smart agriculture, food security, and vocational training reflect the bloc’s commitment to human-centred development. He reaffirmed ECOWAS’s record in promoting peace and democracy, citing its interventions in Liberia, Sierra Leone, Côte d’Ivoire, Guinea-Bissau, and The Gambia. “It was ECOWAS that ensured the will of the people of The Gambia prevailed in 2016,” he said, referencing the bloc’s successful diplomatic and military intervention to end Yahya Jammeh’s rule after he rejected election results. On maritime security, he noted that no piracy incidents had been recorded in West African waters so far in 2024 — an outcome he attributed to ECOWAS’s coordinated security efforts in the Gulf of Guinea. Calls for reform Dr Touray admitted that intra-regional trade remains low, hovering around 12%. He called for urgent reforms to dismantle non-tariff barriers, improve infrastructure, and boost productivity across member states. He also appealed to local and international investors to tap into the region’s economic potential, underpinned by a population of over 400 million people. Amid security challenges and the withdrawal of some Sahelian states from the bloc, Dr Touray underscored the importance of collective action. He said dialogue and mediation with Mali, Niger, and Burkina Faso remain ongoing. “Despite the challenges, I remain optimistic that we will collectively preserve and build on the gains of regional integration — for our people who are united by blood,” he concluded. ECOWAS ECOWAS was established in 1975 through the Treaty of Lagos to foster economic integration across West Africa. Its 15 member states share a combined population exceeding 400 million. Over the past five decades, the bloc has launched peacekeeping missions, facilitated cross-border trade and movement, and supported democratic governance. However, its unity has come under strain in recent years following a series of military coups in Mali, Niger, and Burkina Faso, alongside rising terrorism threats and economic instability. 22nd April,2025

NEW POLICIES WILL HURT MINING SECTOR GROWTH The Minority in Parliament has cautioned government that its recent decisions in the mining sector could stifle growth, drive away foreign investment, and lead to increased job losses. In a letter dated April 21, 2025, addressed to the Ministers for Finance and Lands and Natural Resources, the opposition described a series of recent policies as “potentially dire” for the country’s economic stability. Signed by the Ranking Member on the Economy and Development Committee, Kojo Oppong Nkrumah, Ranking on the Lands and Natural Resources Committee, Kwaku Ampratwum Sarpong, and Ranking on the Finance Committee, Dr. Mohammed Amin Adam, the letter criticized two new tax measures imposed on the industry a 3% Growth and Sustainability Levy on gross mining volumes introduced this year and an additional levy scheduled for 2026 to 2028. The Minority warned that these levies are placing distressed mines under greater financial pressure and discouraging new investment. “These royalty-like levies are putting several mines already in distress into graver financial difficulties,” the letter stated. The MPs also noted that companies mining other minerals, which have not experienced price surges, are unfairly burdened by the new taxes. Equally worrying according to the Minority MPs is the recently passed GOLDBOD Act, which bans foreign entities from gold trading and export. The Minority argues that this move not only sends a negative signal to the global investor community but also violates the 1992 Constitution by retroactively affecting existing rights. The group further condemned the government’s refusal to renew Goldfields Ghana Limited’s mining lease. According to the Minority, this rejection undermines investor confidence and discourages long-term commitments to the country. They argue that Ghana could have used the renewal process to renegotiate better terms rather than push an established operator out. Concerns were also raised about the government’s decision to defund 80% of the Minerals Income Investment Fund (MIIF), which traditionally supports the state’s equity interests in mining operations. The Minority believes this step reflects a retreat from Ghana’s ambition to hold meaningful stakes in resource development. In addition to economic concerns, the statement referenced a violent incident at a mine resulting in eight deaths. The Minority linked the attack to anti-investor rhetoric from public figures and expressed dismay at the stalled investigation, which they say further undermines investor confidence. The opposition also criticised the recent abolition of Community Mining Schemes, warning that this decision has created space for illegal mining activities to expand. They argue that instead of scrapping the initiative, the government should have formalised and regulated it. Calling for a policy rethink, the Minority urged the government to restore lease renewals, offer incentives, avoid hostile rhetoric, and establish a clear framework for growing local mining firms. “This is the time when government must bolster economic stability and attract, rather than discourage, foreign direct investment,” they concluded. 22nd April,2025

FEED GHANA PROGRAMME WILL BUILD ROBUST, STABILISE ECONOMY The Director General of the National Service Authority (NSA), Felix Gyamfi, assured that the implementation of the Feed Ghana Programme will build a robust and stabilise economy for wealth creation and poverty reduction. He said the Authority was well-positioned to implement the government’s flagship intervention programme for improved national food productivity, sustainability and security. President John Dramani Mahama launched the Feed Ghana Programme, an intervention of the government, aimed at improving food productivity in the country. In an interview with the Ghana News Agency (GNA) at Techiman in the Bono East Region, Mr Gyamfi described the programme as laudable, saying the NSA remained committed to executing the programme for the nation to derive the optimum benefit. The Feed Ghana Programme is a positive and strategic initiative and a crucial step for the nation to advance in national food productivity, he stated, saying the NSA was ready to facilitate and ensure that the programme was successfully implemented nationwide. Mr Gyamfi said the transformative impact of the programme remained unparalleled, saying its execution would create direct and indirect job opportunities for the youth. “Once the programme is fully operational, it will significantly decrease the cost of importing food commodities, allowing Ghanaians to take pride in self-sufficiency,” he stated. He explained that the Authority already had farms and those farms would be expanded as the programme took off. “The future is promising because the programme will help reduce prices of food items and eventually reduce food imports, paving the way for a more sustainable economy”, Mr Gyamfi added. He said the NSA was currently cultivating more than 6,000 acres of maize, 500 acres of rice, 400 acres of tomatoes, and soya beans in the major and minor seasons and urged service personnel to contribute and remain committed to the implementation of the programme for the nation to build a robust economy. Mr Gyamfi encouraged them to recognise and appreciate the benefits of the programme not only for the country, but also for themselves, for a sustainable livelihood. 22nd April,2025

GHANA EXCEEDS IMF RESERVE TARGET Ghana has exceeded an important benchmark under the International Monetary Fund (IMF) programme of increasing the country’s gross international reserve. This has been achieved a year ahead of the completion date of the programme in May 2026. Data released after a staff-level agreement between the government and the IMF, indicates that Ghana’s gross international reserve hit $9.3 billion as of as of February 2025. This is equivalent to four months of import cover. Ghana was expected to reach the threshold by middle of 2026 under the programme. Reacting to the development, a senior finance lecturer at the University of Ghana Business School, Dr Benjamin Amoah described the feat as a good development that could sustain the cedi’s stability. “I think this is a good development for the cedi. Improving the reserves will send a positive signal to investors that the currency is in a good position”, he said. He advised the government to continue with the debt sustainability measures to further boost the country’s reserves. Government and IMF Reach Staff-Level Agreement Ghana and the IMF reached a staff-level agreement on a package of economic policies and reforms to conclude the fourth review of the 36-month Economic Credit Facility (ECF)-supported programme on April 15, 2025. This staff-level agreement is subject to the executive board's consideration. Upon completion of the executive board review, Ghana would have access to SDR 267.5 million (about US$370 million). This will bring the total IMF financial support disbursed under the arrangement since May 2023 to SDR 1,708 million, approximately US$2.355 billion. The Fund in a communique said growth in 2024 was higher than expected, underpinned by strong mining and construction activity. "The external sector has seen a considerable improvement, driven by solid exports, particularly gold and, to a lesser extent, oil, and higher remittances. As a result, international reserves accumulation has far exceeded the ECF-supported programme targets", it stressed. Notwithstanding these achievements, the Fund indicated that the overall performance under the IMF-supported programme deteriorated markedly at end-2024. "Preliminary fiscal data point to slippages in the run-up to the 2024 general elections, on account of a large accumulation of payables. Inflation exceeded programme targets. Several reforms and policy actions were delayed across the fiscal, financial, and energy sectors", it added. Against this backdrop, it pointed out that the new authorities have taken bold measures to address policy slippages and ensure the programme objectives remain within reach. On the fiscal front, the government has launched an audit of the payables to firm up the size and nature of the slippages. Based on preliminary estimates of new payables, the primary balance posted a deficit of some 3¼ percent of Gross Domestic Product (GDP) compared to a targeted surplus of ½ percent of GDP. To address these slippages, the IMF alluded that the government has enacted a 2025 Budget that targets a 1½ percent of GDP primary surplus and adopted several public financial management reforms. The latter includes an enhanced fiscal responsibility framework and new rules to tighten expenditure commitments. The IMF mission, which was in Ghana last week engaged the authorities on their wide-ranging structural reform program, with a focus on enhancing governance and transparency and strengthening State-Owned Enterprises management in the gold, cocoa, and energy sector. The staff met with the Finance Minister Forson, Bank of Ghana Governor, Dr. Johnson Asiama, and their teams, as well as representatives from various government agencies and other stakeholders. It expressed its gratitude to the Ghanaian authorities and other counterparts for their continued open and constructive engagement. 22nd April,2025

WE MUST CONTINUE NEGOTIATIONS WITH SAHELIAN LEADERS President John Mahama has called for continued dialogue among the leaders of the Sahel states of the Economic Community of West African States (ECOWAS) following their withdrawal from the organisation. Describing the decision to withdraw as "regrettable", he emphasised the need for ongoing engagement, stating: "Continuous engagement must be our lodestar. We must respond not with isolation or recrimination, but with understanding, dialogue, and a willingness to engage." He made these remarks during the launch of ECOWAS's 50th anniversary celebrations in Accra on Tuesday, 22 April. As part of efforts to strengthen cooperation with the Sahelian states, he reaffirmed Ghana's commitment, stating, "Ghana has appointed a special envoy to initiate high-level conversations with the Alliance of Sahel States." "I have personally led missions to foster trust, rebuild communication channels, and affirm our shared aspirations," he emphasised. The Sahel region encompasses several countries in West and Central Africa, they include Mauritania, Mali, Niger, Burkina Faso, and Chad. Recently, Niger, Mali and Burkina Faso have left the ECOWAS. 22nd April,2025