• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 1 hour Would bashing China solve all the problems of the United States
  • 46 mins Model 3 cheaper to buy than BMW 3 series.
  • 2 hours Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 55 mins Pompeo's Hong Kong
  • 12 hours COVID 19 May Be Less Deadly Than Flu Study Finds
  • 1 day China to Impose Dictatorship on Hong Kong
  • 2 hours Thugs in Trumpistan
  • 6 hours China’s Oil Thirst Draws an Armada of Tankers
  • 46 mins Income report showing potential future spending and economic growth
  • 7 hours China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 2 days Iran's first oil tanker has arrived near Venezuela
  • 2 hours US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China
  • 2 days Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 3 hours The CDC confirms remarkably low coronavirus death rate. Where is the media?
  • 1 day 60 mph electric mopeds

Ghana’s Supreme Court Upholds President Mahama

Bottom Line: Ghana investors breathe a sigh of relief as the Supreme Court upholds the December 2012 presidential election results and the verdict passes smoothly, with opposition criticism but with all quiet on the streets.

Analysis: As we noted in a lengthy executive report on Ghana, as well as in the previous two briefings, we did not expect the Supreme Court to rule in favor of the opposition, if only because of the implications of this for the country’s stability. The Supreme Court’s final verdict dismissed the opposition petition calling for an annulment of the election results due to alleged voting irregularities. But the process has shaken investor confidence and a new report on macroeconomic indicators shows a drastic decline that reverses last year’s trend, according to the World Economic Forum’s Global Competitiveness Report (GCR). Specifically, Ghana recorded a budget deficit of over 12% during the election year (2012), which is 100% more than its target.

Recommendation: The political crisis in Ghana has been decided, with this verdict, but it may not be over yet. What is opposition criticism of the Supreme Court verdict could gain momentum among fringe elements. We do not expect this to evolve into a major destabilizing factor, nor do we believe that the wider public will allow tensions to rise to the point of violence. On the economic level, the verdict should allow the ruling government a reprieve to focus on trimming the…




Oilprice - The No. 1 Source for Oil & Energy News