• 3 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 7 minutes Saudi and UAE pressure to get US support for Oil quotas is reportedly on..
  • 11 minutes China devalues currency to lower prices to address new tariffs. But doesn't help. Here is why. . . .
  • 15 minutes What is your current outlook as a day trader for WTI
  • 7 hours Maybe 8 to 10 "good" years left in oil industry * UAE model for Economic Deversification * Others spent oil billions on funding terrorism, wars, suppressing dissidents * Too late now
  • 3 hours 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 24 hours Long Range Attack On Saudi Oil Field Ends War On Yemen
  • 11 hours In The Bright Of New Administration Rules: Immigrants as Economic Contributors
  • 11 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 6 hours Will Uncle Sam Step Up and Cut Production
  • 4 hours With Global Warming Greenland is Prime Real Estate
  • 3 hours Russia Accuses U.S. Of Stoking Tensions With Missile Test
  • 3 hours Recession Jitters Are Rising. Is There Reason To Worry?
  • 4 hours Sad . . . Only thing that moves oil price up is an attack on Tankers or Oil Facilities (Staged or real?)
  • 13 hours Domino Effect: Rashida Tlaib Rejects Israel's Offer For 'Humanitarian' Visit To West Bank
  • 2 days Gretta Thunbergs zero carbon voyage carbon foot print of carbon fibre manufacture
  • 2 days Continental Resource's Hamm wants shale to cut production. . . He can't compete with peers.
  • 7 hours Get First Access To The Oilprice App!
  • 16 hours Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House

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.

Ghana Presidential ElectionAnalysis: 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 budget deficit to the targeted 9% by the end of this year. For foreign investors, our assessment is that the situation is stable and we will continue to follow any potential shifts within the energy sector leadership that could affect operations on a regulatory or political risk level.




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play