archives : March 2010

     

Ethiopia
An International Monetary Fund (IMF) mission led by Mr. Paul Mathieu visited Addis AbabaMarch 12-24 to conduct discussions on the 2010 Article IV consultation and the first review under the program supported by the Exogenous Shocks Facility. The mission met with His Excellency Prime Minister Meles Zenawi, Minister of Finance and Economic Development Sufian Ahmed, and Governor of the National Bank of Ethiopia Teklewold Atnafu, as well representatives of the private sector, labor unions, and civil society. - Thursday 25 March 2010


Swaziland - European Union
A banned opposition party in the tiny kingdom of Swaziland has begged the international community to impose ‘targeted sanctions’ on the ruling elite in that country. - Thursday 25 March 2010


Panafrica - France
A white woman refuses to forgo her last coffee harvest in an African country during a civil war. Her desire takes precedence over the fate of Africans around her. True to herself, Claire Denis’ White Material, released Wednesday in French cinemas, is a true depiction of the attitude of some French expatriates on the African soil. Interview. - Thursday 25 March 2010


South africa
A total of 556 South African’s have been shot dead by police since the controversial "shoot to kill" statements were made two years ago. - Thursday 25 March 2010


Nigeria
Issues of civility, freedom of speech, and freedom of the press is splitting the Nigerian public as Nigerian Islamic court bans the debate on the implementation of Sharia Law on social utility sites such as Twitter and Facebook. Nigerian Muslims say debating the use of amputation as means of punishment for petty crimes mock the Sharia system. - Thursday 25 March 2010


Ghana

OIL Price Palaver

Nana Asafu Adjaye, CEO of the Ghana National Petroleum Corporation must be rubbing their hands in glee. Oil has broken through the $80 price band! Every successful climb of the commodity on the price ladder signifies an increase in the value of Ghana’s oil resource, which in a way bolsters the bargaining position of the GNPC as it tours the world looking for easy cash to realise the ambitions of our new oil Tsars.

Alex Mould, CEO of the National Petroleum Authority (NPA) on the other hand is writhing in a little bit of agony, as he stares forlornly at the computer. Every upward movement in the oil price is like a nail piercing his flesh. Very soon he would need to up the price by about 10%, which will be quite perceptible in our inflation-averse circumstances. Especially as we have a 200%+ upward adjustment of energy tariffs already staring us in the face.

Government will have to sit up and start strategising about how to deal with this “oil price paradox” in our national economic life. The paradox has arisen because Ghana shall soon be in the funny position of being both a net importer of fuel and a net exporter of the same commodity at the same time. A major feature of the incoming petroleum revenue management policy should be devoted to this matter. It seems to us that there are two main channels through which oil price-induced inflation percolate into our economy: transport and energy. Both sectors are rife with inefficiency. If some of the oil windfall was directed at salvaging the situation, the resultant benefits shall be legion.

- Wednesday 24 March 2010


Somalia - United States - China - Russia - European Union
With the cooperation of the international shipping industry, there has been steady progress in the fight against maritime piracy off the east coast of Africa, a senior U.S. official told reporters March 19. - Wednesday 24 March 2010


Ghana - United States
US Department of Agriculture figures reveal that a quarter of US cereals grown in 2009 went to biofuel, turning cheap food into expensive fuel. This pushes up food prices and damages the environment yet President Obama promised “continued investment in advanced biofuels” in his recent State of the Union address. A new report in Ghana shows how much damage biofuels can do. - Wednesday 24 March 2010


Panafrica - International
Since 2001, Investment into the African telecommunications sector has hit $18bn, however Africa has missed many opportunities to deploy cable infrastructure to the same extent as its competitive continents such as the Middle East and Asia. - Wednesday 24 March 2010


Zimbabwe
Robert Mugabe’s brutal thirty year-old reign in Zimbabwe, compounded by a frenzied ten-year mutilation of property rights is once again on the cover page of the country’s annals of food insecurity. - Wednesday 24 March 2010

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