Wetin hapun as India Prime Minister Narendra Modi make historic visit to Ghana
Di PM wen im visit Ghana, sign plenty agreements wit di kontri President John Dramani Mahama wia dey aim to make trade and business better.
Im describe India-Ghana relationship say "e don sweet pass sugarloaf pineapple."
President Mahama bin announce during one press conference say dem bin sign healthcare agreement to "promote traditional medicinal education, training and research."
Im also tok say dem sign oda agreement to promote cultural exchange wit anoda one to "enhance quality of di trade between di two kontris."
Di one wey pipo sabi say na ogbonge agreement na di one wey India go support Ghana to build vaccine manufacturing and production hub.
President Mahama tok say "dis agreement wey we don sign go help our dreams and push our aspirations for cooperation across di economy like agriculture, energy, manufacturing, infrastructure development and security."
Ghana and India bin get relationship since
Ghana im first President Dr Kwame Nkrumah bin take inspiration from Mahatma Gandhi wen im form non-violent movement wey fight for independence for India from di British for 1947.
Ghana also bin gain her independence ten years afta India for 1957.
Since den, both countries don dey make dia relationship strong; na so dem get vibrant Indian community of more dan 15,000 pipo for Ghana.
Out of dis number, 3,000 dey hold Ghana nationality.
Plenty businesses wey India pipo dey run for Ghana dey employ many young pipo, na so goment say make more companies enta di kontri to do business.
PM Modi for one address for di Ghana parliament tok say "India go waka shoulder to shoulder wit Ghana as committed partner for dis journey."
India bin dey support Ghana since - for 2008, dem bin give Ghana moni through di exim bank to build di presidential candidate palace at di time Ghana bin dey celebrate 50 years of independence.
Dis $135m project now be di kontris seat of goment.
For 2021, Ghana na one of 150 kontris wey India bin support wit AstraZeneca vaccines during di Covid 19 pandemic.
For November last year, Ghana goment bin commission one 97.7km Tema-Mpakadan railway line wia dem construct wit $447m India export-import bank credit facility.
Prime Minister Modi explain say dis projects don dey show India im commitment to Africa.
"We don dey spread our diplomatic presence to 46 countries across Africa wia we don support ova 200 projects for di continent to boost connectivity and industry."
Im add say India go support Africa development framework agenda 2063 to make sure say di continent get bright future.
"Di goals of Africa na our priority, we dey hope to grow togeda as equal."
Indian dey try to soon become di third largest economy for di world, according to di PM.
"India na tech and innovation hub, wia pipo don recognise us as di pharmacy of di world, wia we also bin get women wey dey do ogbonge tins for science, aviation and sports."
"Di pipo of India don tok say dem go make di kontri become developed kontri by 2047, di time wia we go celebrate 100 years of independence."
PM Modi go continue im 5-nation tour to Namibia, Trinidad & Tobago, Argentina and Brazil wia im go attend di Brics summit between 5-8 July.
Ghana President John Mahama carry di country ogbonge award take celebrate di India PM.
Dis na 'di officer of di order of di star of Ghana', one award wey dey recognise pesin wey don do many many tins to contribute to di country or di world.
During im two-day visit for Ghana, PM Modi bin visit di tomb of Ghana first President Dr Kwame Nkrumah, wia im lay wreath for im graveside.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
an hour ago
- Reuters
Rupee to weaken after 'rare' positive news for dollar from US jobs report
MUMBAI, July 4(Reuters) - The Indian rupee is set to decline at open on Friday after data showed the U.S. labour market remained resilient, fuelling a rally in the dollar and pushing up Treasury yields. The 1-month non-deliverable forward indicated an open in the 85.46 to 85.50 range, versus 85.31 in the previous session. "The 85.30 level is a major support (for USD/INR), and the U.S. jobs data just reinforces that it's unlikely to break below that level in a hurry," a currency dealer at a Mumbai-based bank. "The dollar's broad recovery and the U.S. yield move have locked in that floor for now." U.S. data on Thursday showed non-farm payrolls rose more than forecast in June, while the unemployment rate unexpectedly dipped, highlighting ongoing labour market strength. Treasury yields climbed, lifting the dollar against major peers, while markets dialled back expectations of a Federal Reserve rate cut at this month's meeting. The jobs data is a 'rare piece of good news" for the U.S. dollar, Richard Potts, economist at FX advisory firm Bondford, said. "The data reduces the likelihood of the US Fed cutting rates at the July (meeting), maintaining the rate advantage U.S. has over other major economies," he said, while noting that just days earlier, Fed Chair Jerome Powell had kept the door open to a July cut, which had weighed on the dollar. Meanwhile, the Republican-controlled House of Representatives narrowly passed U.S. President Donald Trump's spending and tax cuts bill that is estimated to add $3.4 trillion to the nation's $36.2 trillion debt. "The question is how much of the bill's passage was already priced in," said Chris Weston, head of research at broker Pepperstone. Weston said the longer segment of the Treasury curve needs to be tracked for any rise in the term premium before making a call. KEY INDICATORS: ** India's market regulator bars U.S. trading company Jane Street from accessing the local securities market ** One-month non-deliverable rupee forward at 85.58; onshore one-month forward premium at 10 paise ** Dollar index up at 97.01 ** Brent crude futures down 0.4% at $68.5 per barrel ** Ten-year U.S. note yield at 4.35% ** As per NSDL data, foreign investors sold a net $87.2 million worth of Indian shares on July 2 ** NSDL data shows foreign investors sold a net $158.6 million worth of Indian bonds on July 2
Reuters
2 hours ago
- Reuters
India's rising FX reserves, leaner forward book bolster rupee shield
MUMBAI, July 4 (Reuters) - India's climbing foreign exchange reserves and the central bank's shrinking forward book are cementing the rupee's defences at a time when U.S. trade policy uncertainty looms over the economy and markets, analysts said. Economists assess the Reserve Bank of India's (RBI) capacity to intervene in the foreign exchange market by evaluating its foreign exchange reserves (INFXR=ECI), opens new tab and forward book positions, both of which are on a healthy trajectory. India's forex reserves have been rising after slipping to a multi-month low of $624 billion in late January, and are poised to cross the $700 billion mark when the latest data is released later on Friday, as per estimates by two economists, based on central bank balance sheet data. At the same time, the RBI's short-dollar position in the forward market, which had risen to a record $88.7 billion in February, declined to $65.2 billion by May. The data is released with a one-month lag. Substantial short positions in the forward dollar book offset some of the cushion offered by headline FX reserves, since they imply future commitments that could drain the reserves. The RBI's forward book shrank by $19 billion over April and May, while its net dollar selling during the same period was just $3.2 billion. This suggests the RBI is allowing a portion of the forward book to unwind and is offsetting the impact on rupee liquidity and FX reserves by purchasing dollars in the spot market, said Gaura Sen Gupta, an economist at IDFC First Bank. "The reduction in forward book size and sufficient FX reserves are a positive for the INR. It increases the RBI's ability to intervene if required," Sen Gupta said. The RBI intervenes in foreign exchange markets to curb excessive volatility. The central bank did not respond to an email seeking comment. The rupee is among emerging market currencies that have experienced heightened volatility since April 2, when U.S. President Donald Trump announced sweeping tariffs, only to pause the steep hikes for 90 days. U.S. and Indian trade negotiators are pushing to finalise a trade deal before the July 9 deadline, and a failure could heighten volatility for the rupee. A change in the composition of the RBI's forward book towards more onshore positions than non-deliverable forwards is one more positive for the rupee, according to analysts. Positions in the non-deliverable forward market, unlike their onshore counterparts, are typically concentrated in near-tenors and need to be rolled over frequently, adding to volatility. This shift "reduces the pressure on the RBI to unwind the short dollar positions very aggressively," Abhishek Upadhyay, an economist at ICICI Securities Primary Dealership, said in a note. "Any decision to unwind the book should be based on balance of payment flows to ensure optics of FX reserves is managed well."
The Guardian
2 hours ago
- The Guardian
US supreme court clears way for deportations of eight men to South Sudan
The supreme court has allowed the Trump administration to deport the eight men who have been held for weeks at an American military base in Djibouti to war-torn South Sudan, a country where almost none of them have ties. Most of the men are from countries including Vietnam, South Korea, Mexico, Laos, Cuba and Myanmar. Just one is from South Sudan. The supreme court's order on Thursday came after the court's conservative majority last month decided that immigration officials can quickly deport people to countries to which they have no connection. That order paused a district judge's earlier ruling that immigrants being sent to third countries must first be given an opportunity to prove they would face torture, persecution or death if they were sent there. Trina Realmuto, a lawyer for the eight men and executive director of the National Immigration Litigation Alliance, said the eight men could 'face perilous conditions, and potentially immediate detention, upon arrival'. Two liberal justices dissented – Sonia Sotomayor and Ketanji Brown Jackson – by saying the ruling gives the government special treatment. 'What the government wants to do, concretely, is send the eight noncitizens it illegally removed from the United States from Djibouti to South Sudan, where they will be turned over to the local authorities without regard for the likelihood that they will face torture or death,' Sotomayor wrote. 'Today's order clarifies only one thing: Other litigants must follow the rules, but the administration has the Supreme Court on speed dial,' she added. The Trump administration has been seeking deals with various countries to accept deportees that the US government cannot quickly send back to their homelands. The eight men awaiting deportation to South Sudan have all been convicted of serious crimes, which the Trump administration has emphasized in justifying their banishment. Many had either finished or were close to finishing serving sentences, and had 'orders of removal' directing them to leave the US. Some, like Tuan Thanh Phan – who came to the United States from Vietnam as a child and was convicted of killing someone in a gang altercation when he was 18 – had already planned to return to his home country after serving his sentence. Instead, the US government first told these men that they would be deported to South Africa, and they were asked to sign documents acknowledging their deportation. They refused, and their case came before judge Brian E Murphy of the district of Massachusetts, who ruled that the government must provide 'written notice' to any immigrant facing deportation to a third country, and give them an opportunity to voice a 'reasonable fear' of torture. The men were told instead that they were being deported to South Sudan. The government did not provide Murphy with immediate information about where the men were, and where they were being sent. Eventually, their flight landed in Camp Lemonnier, an American military base in Djibouti. Immigration and Customs Enforcement (Ice) agents worked 12-hour shifts guarding the men. In a sworn court declaration, an official described illness among the detainees and government agents, inadequate medical care, risks of malaria and worry about attacks from militants in Yemen. In May, the Trump administration asked the supreme court to intervene and allow the government to deport the men to South Sudan. They sought agreements with several countries to house immigrants if authorities could not quickly send them back to their homelands. The White House and Department of Homeland Security did not immediately respond to messages seeking comment. The Associated Press contributed reporting
