The Mission acknowledged in its 2016 Annual Development Assistance Framework (UNDAF) report, that the Energy Sector Levy has helped restructure debt obligations to domestic banks, and improved electricity reliability substantially.

[contextly_sidebar id=”YA4gNpDhOLH1LnEstRyqy0qFhleJdU77″]It however raised concerns about the sector’s growing debt.

The energy sector debt is estimated at some $2.4 billion, which translates to over 6% of the GDP at year ending 2016.

Government is currently inviting investors to participate in a GHc 10 billion energy sector bond aimed at defraying the debt.

It is also considering issuing its energy bond in batches of two or three, with the first issue to raise GHc 6 billion, and the subsequent one to raise the remaining as the case may be.

It has emerged that, the government may not be paying anything less than 17 percent in interest for the energy bond.

Lead managers of the bond told Citi Business News the target is also largely due to developments and investor appetite so far.

The GHc 6 billion cedi bond is being auctioned in two bids; a 7-year bid to raise 2.4 billion cedis, while the 10-year bid is expected to raise 3.6 billion cedis.

But the Ghana United Nations Development Framework Report cautions that, the sector’s financial arrears pose persistent challenges to the country’s public finance management.

The United Nations Development Assistance Framework (UNDAF), is a strategic, medium-term results framework that describes the collective vision and response of the UN system to national development priorities and results on the basis of normative programming principles.

It describes how UN Country Teams will contribute to the achievement of development results based on a common country analysis and UN comparative advantage.

The 2017 UNDAF guidance will support UN Country Teams to produce a  new generation of UNDAFs that reflect the 2030 Agenda for Sustainable Development, with sustainable development goals at their core, and position them to provide quality support to member states in their aspiration to achieve the 2030 Agenda.

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By: Sixtus Dong Ullo/citifmonline.com/Ghana

The post Energy sector debt hampering public finance management – UN appeared first on Citi 97.3 FM - Relevant Radio. Always.

The renowned illusionist, two weeks ago on Sky Sports News handed a sealed envelope over to the host of the show, Rob Wotton, requesting that the envelope be kept by the station until a future date, when he would return to reveal its contents.

On Monday, with Dynamo back in the studio, the envelope was opened to reveal a CD.

The audio recording on the CD began with Dynamo predicting that, “a football star would face serious injury,” going on to predict that the star “would be either (Cristiano) Ronaldo, Neymar or (Lionel) Messi” and that “a back injury would end his tournament.”

Brazilian star Neymar suffered a back injury against Colombia which ruled him out of the rest of the tournament.

He went on to predict that the final would be contested between a country from Europe and one from Latin America, specifically, “either Italy or Germany and Argentina” and that the “only goal would be scored in the 113th minute by the youngest player on the pitch. breaking Argentinian hearts.”

The winning goal of the World Cup final was of course scored by 22-year old Mario Gotze for Germany in the second half of extra time.

He ended the recording by saying, “Auf Wiedersehen” meaning “goodbye” in German, suggesting he knew Germany would eventually win the tournament.

Of course there are several plausible explanations for the correct predictions; colluding with Sky Sports to switch the CD being one of them, but it certainly offers football fans an intriguing alternative perspective on the game.

Watch video below…

By: Edwin Kwakofi/citifmonline.com/Ghana

The post English magician predicts Neymar injury, Germany win before W/C appeared first on Citi 97.3 FM - Relevant Radio. Always.