Ghana Declares Ex-Finance Minister Ofori-Atta Wanted Again
The minister under whose watch Ghana defaulted on its debt and agreed a $3 billion program with the International Monetary Fund to fix finances is being sought over funding for a controversial national cathedral project, procurement of ambulance spare parts and other issues.
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Yahoo
23 minutes ago
- Yahoo
How the UK's huge debt pile compares with other nations
UK chancellor Rachel Reeves remains under intense pressure to tackle mounting government debt. On Wednesday, UK think tank National Institute of Economic and Social Research (NIESR) released a report forecasting that Reeves was on course to miss her borrowing targets by £41.2bn. The think tank also posed a solution: Reeves should raise taxes immediately. It recommended "a moderate but sustained increase", including reform of the council tax system to make up the shortfall. Getting debt on a downward path has been flagged as a priority for the government. In July, Darren Jones, chief secretary to the Treasury, said: 'We are committed to tough fiscal rules, so we do not borrow for day-to-day spending and get debt down as a share of our economy." Read more: UK taxpayers 'subsidising' S&P 500, says LSEG boss The recent sharp selloff in government bonds – known as gilts in the UK – has pushed yields higher, further adding to the debt pile. The UK is far from alone in its concerns about growing debt, though, particularly in the wake of US president Donald Trump's tariff threats. Data compiled by the International Monetary Fund (IMF) showed the debt-to-GDP ratio – a signifier that the country will face difficulties servicing its debt – of the UK and other leading economies. The UK's ratio stands at 104%, according to the data. Japan tops the IMF's list by a long margin, with a debt-to-GDP ratio of 235% – more than double that of the UK. Japan has traditionally relied on longer-dated bond yields to navigate its huge debt. However, buyers have recently begun to turn their backs on the Japanese bond market, sparking concern for the country's long-term financial outlook. Read more: Europe's most expensive city revealed, as living costs near £3,500 per month Meanwhile, the US has the second-highest debt-to-GDP ratio of the listed countries, with a total of 123%. Worries about the country's mounting debt have been growing throughout 2025. Trump's tax-cut bill, which was signed into law in July, has heightened these concerns. This chart uses the IMF's data to compare the debt-to-GDP ratio of selected leading economies, revealing stark differences and approaches to public in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News24
2 hours ago
- News24
SANEF condemns ‘bribe' offered to Daily Maverick journalist by suspended IDT boss
The SA National Editors Forum (SANEF) said it was shocked by an alleged bribe offering to investigative journalist Pieter-Louis Myburgh by the suspended IDT CEO Tebogo Malaka. The organisation said the brazen nature of the 'bribery' attempt was shocking. SANEF urged members of the public, as well as public officials, who have knowledge or evidence of attempts or bribery incidents involving journalists, to come forward and report it. The SA National Editors Forum (SANEF) has condemned an alleged attempt to bribe Daily Maverick investigative journalist Pieter-Louis Myburgh by suspended Independent Development Trust (IDT) CEO Tebogo Malaka and her spokesperson. A report by Myburgh – that he was offered a bribe to quash an investigation into the Independent Development Trust, an organisation with a budget of billions of rands of government money – 'was shocking', SANEF said in a Thursday statement. SANEF added that it was especially shocking that the Malaka, was prepared to pay R60 000 upfront for Myburgh to cease his investigation into an IDT contract and one of Malaka's upmarket properties, SANEF said 'another sweetener' was when IDT spokesperson Phasha Makgolane, told Myburgh that he could put forward his preferred suppliers for lucrative contracts and arrange a cut for himself. 'The lengths to which a public official went to cover up their wrongdoing were staggering' it said. SANEF added: The apparent comfort and ease with which Makgolane arranged the meetings with Myburgh to brazenly discuss a bribe – a criminal act – suggests perhaps that this was not the first time this was done. SANEF further condemned 'any attempt to bribe any journalist'. 'This is a grave threat to the credibility of the news media in South Africa and cannot be tolerated. SANEF takes strong exception to any attempt to bribe journalists or cause them to halt their work. 'SANEF urges members of the public, as well as officials, who have knowledge or evidence of attempts or bribery incidents involving journalists, to come forward and report it by opening a case with the SAPS and reporting it to SANEF as well.' CEO suspension News24 reported that on Friday, the IDT board announced that it had suspended Malaka, following damning findings of an independent investigation into tender fraud pertaining to an R800 million oxygen plant programme for around 55 hospitals. READ | IDT CEO Tebogo Malaka suspended after R836m tender scandal probe Myburgh first reported that a 'ghost company' obtained the oxygen tender in October last year. Daily Maverick and investigative outfit amaBhungane also published further articles. Myburgh has subsequently also taken an interest in Malaka's property dealings. On Wednesday, Daily Maverick reported that Malaka and Makgolane, offered Myburgh a R60 000 bribe, and that the exchange was caught on video. Myburgh was allegedly also previously offered the chance to bring his own contractors to the IDT for tenders. Neither Malaka nor Makgolane responded to Daily Maverick's requests for comment. SANEF media ethics inquiry After the 2021 report on Media Ethics and Credibility by Judge Kathy Satchwell, commissioned by SANEF in 2020, SANEF announced it had launched an Ethics Barometer. SANEF said the barometer was built by the Democracy Works Foundation. 'The survey, first completed by editors in 2024, aims to gather data on the ethical state of journalism in South Africa. The barometer has been sent out for completion in 2025, and its results will be made known.'
Yahoo
8 hours ago
- Yahoo
Ukrainians' trust in Zelenskiy dips after wartime protests, pollster finds
By Dan Peleschuk KYIV (Reuters) -Public trust in Ukrainian President Volodymyr Zelenskiy fell to its lowest level in around six months following rare wartime protests against a move to curb the power of anti-corruption watchdogs, a leading Kyiv pollster said on Wednesday. The survey, by the Kyiv International Institute of Sociology, is the first by a major Ukrainian pollster to measure public sentiment since Zelenskiy sparked anger with a move to subordinate the agencies to a hand-picked prosecutor-general. Thousands of Ukrainians had rallied in Kyiv and other cities late last month against the fast-tracked measures, prompting Zelenskiy and his ruling party to quickly reverse course. The KIIS poll, which began a day after the controversial vote on July 22, found that 58% of Ukrainians currently trust Zelenskiy, down from an 18-month high of 74% in May and 67% in February-March. The move against anti-corruption authorities last month had fuelled discontent in particular because of what critics described as the speed and lack of transparency with which the measures were passed. Fighting corruption and improving governance are key requirements for loan-dependent Ukraine to join the European Union, a step many consider critical to fending off future Russian pressure. While much smaller, the demonstrations had prompted comparisons to Ukraine's 2014 Maidan revolution, when protesters toppled a leader accused of graft and heavy-handed rule in favour of closer ties with the West. KIIS found that those who distrust Zelenskiy cited corruption and his handling of the war as the top two reasons, at 21% and 20%, respectively. Trust had already been decreasing before the protests, it added, but the demonstrations "undoubtedly had an impact" on the continuing slide. Zelenskiy's lowest wartime trust rating was 52% in December 2024, according to KIIS. The latest survey involved more than 1,000 respondents across government-controlled Ukraine. 'WORRYING SIGNAL' In a research note, executive director Anton Grushetskyi said Zelenskiy still enjoyed "a fairly high level of trust" but said the gradual decrease should serve as a warning. "The persistent downward trend is a worrying signal that requires attention and thoughtful decisions from the authorities," he wrote. Zelenskiy, after bowing to pressure and submitting new legislation reversing the controversial measures last month, said he "respects the position of all Ukrainians". However, some protesters interviewed by Reuters said the scandal had at least somewhat altered their perception of Zelenskiy, whose office has also faced allegations of using wartime to centralise power. It has denied those charges. "On the first day of the protests, I thought #12414 simply as a reminder," said 22-year-old IT worker Artem Astaf'yev, referring to the controversial law's designation. A first-time protester, Astaf'yev added that he would probably not vote for Zelenskiy's ruling Servant of the People party in future polls. Elections are currently suspended under martial law. Others like Yuriy Fylypenko, a 50-year-old veteran, said the public outcry had proven that Ukraine's traditionally vibrant civil society could be stoked even in wartime. "We have been convinced that Ukraine is not sleeping, that Ukraine is full of potential to defend democratic principles." Solve the daily Crossword
