{"id":253425,"date":"2016-09-29T15:00:19","date_gmt":"2016-09-29T15:00:19","guid":{"rendered":"http:\/\/citifmonline.com\/?p=253425"},"modified":"2016-09-29T15:00:19","modified_gmt":"2016-09-29T15:00:19","slug":"ghanas-economy-in-reverse-mode-ug-vice-chancellor","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2016\/09\/ghanas-economy-in-reverse-mode-ug-vice-chancellor\/","title":{"rendered":"Ghana\u2019s economy in reverse mode \u2013 UG Vice Chancellor"},"content":{"rendered":"<p>The Vice Chancellor of the University of Ghana (UG), Professor Ebenezer Owusu Oduro, has stated that Ghana\u2019s economy is in reverse mode.<\/p>\n<p>He said the country has failed in its approach towards development.<\/p>\n<p>Speaking to journalists at the launch of the 2nd Biennial Scientific Conference in Accra, Professor Oduro warned of a gloomy future for the country if steps are not taken to invest in agriculture and industry.<\/p>\n<p>The Institute of Statistical Social and Economic Research ISSER, in its State of the Nation\u2019s Economy report said there is a continuous decline in Ghana\u2019s GDP and warned of a recession if the economy is not diversified.<\/p>\n<p>He said from the State of the Nation economic report, \u201cthe sector with the highest spending was the services followed by industry&#8230;but that is not proper. It should be agriculture, industry before the services. There is no doubt that the nation\u2019s development depends on science education. We have a reverse economic growth as a nation, so the topmost growth is service sector followed by industry and then we have agriculture as the last.\u201d<\/p>\n<p>He added that \u201cWe&#8217;ve gotten to a point that as a nation we must make a decision to either invest in science education or we forget about it.\u201d<\/p>\n<p>The Vice Chancellor also said, Ghana risks slowing down its economic growth if it does not take deliberate steps to strengthen the agricultural sector.<\/p>\n<p>\u201cThere is no doubt that the nation\u2019s development depends on science education. We have a reverse economic growth as a nation, so the topmost growth is service sector followed by industry and then we have agriculture as the last.\u201d<\/p>\n<p><strong>Moody\u2019s revises Ghana\u2019s bond ratings<\/strong><\/p>\n<p>The claim comes at a time when international Credit Ratings Agency, Moody\u2019s, has revised the outlook on Ghana\u2019s Long-term Bond Ratings from <span style=\"color: #666699;\"><strong><a style=\"color: #666699;\" href=\"http:\/\/citifmonline.com\/2016\/09\/27\/moodys-revises-ghanas-bond-ratings\/\">Negative to Stable<\/a><\/strong><\/span>.<\/p>\n<p>The rating agency has also affirmed the rating at B31.<\/p>\n<p>Moody\u2019s cited significant fiscal deficit reduction and success in implementing structural reforms over the past year \u00a0as well as reduced government liquidity risk on the external side following the issuance of the US$750m Eurobond, the proceeds of which are earmarked for debt repayments as some of the key drivers for the stabilization of the rating.<\/p>\n<p><strong>Moody\u2019s rating shows Ghana is doing well \u2013 Mahama<\/strong><\/p>\n<p>President John Dramani Mahama has indicated that the country\u2019s recent rating by Moody\u2019s is an indication that <span style=\"color: #666699;\"><strong><a style=\"color: #666699;\" href=\"http:\/\/citifmonline.com\/2016\/09\/29\/moodys-rating-shows-ghana-is-doing-well-mahama\/\">government is doing something right<\/a><\/strong><\/span>.<\/p>\n<p>According to him, the positive outcome\u00a0of the bilateral talks and negotiations on his recent visit to the United Nations General Assembly and France, points to the goodwill and strong image Ghana has among her peers.<\/p>\n<p>&#8211;<\/p>\n<p>By: Jonas Nyabor\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Vice Chancellor of the University of Ghana (UG), Professor Ebenezer Owusu Oduro, has stated that Ghana\u2019s economy is in reverse mode. He said the country has failed in its approach towards development. Speaking to journalists at the launch of the 2nd Biennial Scientific Conference in Accra, Professor Oduro warned of a gloomy future for [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":180498,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[12170,3],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ghana\u2019s economy in reverse mode \u2013 UG Vice Chancellor - Citi 97.3 FM - Relevant Radio. Always<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/citifmonline.com\/2016\/09\/ghanas-economy-in-reverse-mode-ug-vice-chancellor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana\u2019s economy in reverse mode \u2013 UG Vice Chancellor - Citi 97.3 FM - Relevant Radio. Always\" \/>\n<meta property=\"og:description\" content=\"The Vice Chancellor of the University of Ghana (UG), Professor Ebenezer Owusu Oduro, has stated that Ghana\u2019s economy is in reverse mode. He said the country has failed in its approach towards development. 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