Discussion and analysis of the topmost news story of the day

Discussion and analysis of the topmost news story of the day

The Monetary Policy Committee of the Bank of Ghana has increased the policy rate – the rate at which it lends to commercial banks by 2.5% per cent to 17%. This is the first time since November 2018 that the rate has gone up so high. The decision is due to the current pressures on the economy, the uncertainty about the economic outlook and developments in Russia – Ukraine, which has pushed fuel prices up astronomically.

Discussion and analysis of the topmost news story of the day

Ten suspects have been arrested in connection with the Bawku clashes that resulted in 3 soldiers being shot. One other person is reported dead in the incident involving armed assailants at Sabongari who engaged in a shootout with personnel of the 11 Mechanised Battalion of the Ghana Armed Forces (GAF). This is the outcome of a search operation conducted by the Military in a bid to fish out armed assailants following renewed clashes and sporadic shootings in the Bawku municipality.

#FixTheCountry convener, Oliver Barker-Vormawor is likely to spend one more night in Police custody despite being granted bail. Barker-Vormawor was granted bail to the tune of GH¢2 million on Wednesday morning with two sureties, one of whom should deposit documents to his landed property in execution of the bail.

The Electricity Company of Ghana (ECG) has warned that it is embarking on a nationwide exercise to disconnect all indebted customers. According to the company, the exercise is part of efforts to solidify its finances, which is significantly declining.

Discussing One dead, 4 others arrested after shooting incident in Bawku.

The Speaker of Parliament has described as “absurd and reckless” the recent judgement of the Supreme Court affirming voting rights of Deputy Speakers while presiding. Alban Babgin said considering that it was a 7-0 ruling by the judges’ path is worrying as the decision constitutes interference in Parliament’s work.

President Nana Akufo-Addo says the decision of the Supreme Court on the voting rights of Deputy Speakers cannot amount to judicial interference in the work of Parliament. According to him, the suggestion that Parliament is beyond the scrutiny of the Supreme Court is to suggest that Parliament is a law unto itself.