🇬🇭 Ghana in crisis: U-turn on IMF bailout sparks outcry | The Stream
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- Опубликовано: 19 окт 2024
- Ghana’s economy has been crippled by the pandemic, rampant inflation, the war in Ukraine and a depreciating currency. Now analysts warn that the country is close to a crisis.
In May the central bank governor said Ghana faced an overall balance of payments deficit of $934.5m in the first quarter of 2022, compared with $429.9m in the same period last year. Growth slowed to 3.3 percent in the first quarter of 2022 and inflation hit a record of 27.6 percent in May. Critics say the government has recklessly managed its finances with excessive borrowing. The country now spends about a third of its expenditures in just servicing debt alone, not including principal repayments.
In a U-turn from previous statements, this month the government announced it would hold formal talks with the International Monetary Fund (IMF) on a support package. This came just days after hundreds of citizens took to the streets protesting the mounting economic hardships. It is the second time in the past three years that Ghana has turned to the IMF for help.
Protests organized by the Arise Ghana group in June said they were against the “persistence and astronomical hikes in fuel prices by the Akufo-Addo/Bawumia government”, the “grabbing of State lands'' by government officials, and the introduction of a 1.5% tax levied on all electronic transactions. They are also calling for a full bi-partisan parliamentary probe into COVID-19 expenditures.
There is also dissent within the government on whether seeking assistance from the world body is the best move forward. Several unions have criticised the move saying it will create conditions that are unfavourable to Ghanians. One economist has said Ghana will become “ungovernable” if the IMF bailout requires wages to be frozen.
In this episode we’ll talk about Ghana’s worsening economic crisis and ask what IMF assistance means for Ghanaians.
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Strength in unity!!! Hold these politicians accountable, now!!! All the best Ghana, from Canada. ☠️☠️☠️
Exactly 🤝
Very happy to see how much know how there is about these issues, thanks for the stream! Only well informed citizens can hold their government to account
Very well said.
Ghana needs to increase food production and lessen foreign imports
simple.... 👍
they have the lands and means
There is production but all go waste because someone benefits from importation of food we already produce here. Don’t ask me who they are . We already who they are
@@senyoalox8477 the colonists are still trying to rob us of our natural resources but their time is over
@@senyoalox8477 that must be a very evil person. African economies should minimize imports as much as possible to prevent the economy from being exposed to external shocks brought about by world events
COVID, Russian war has nothing to do with Ghana economy. Corruption and mismanagement is the cause. President using 40 cars to one funeral. 110 ministers for little Ghana with fat salaries and multiple allowances. The president is heartless
Speak 🗣🗣
@@rubicon2608 l wonder if you understand the meaning of heartless or you threw words around. I can tell you here, without a doubt that there's no one who love his country better.. more than the president of Ghana. The evidence are there for everyone to see. It's convenient to point fingers whenever things seem cloudy. What was the situation in Ghana before the current administration?. Don't have amnesia of the past. Posterity will vindicate the the President and his administration. Ghana is lucky to have Mr. Akufo Ado as her president. Ghana is respected around the the globe today because of Akufo Ado administration. The president is in a hurry to develop Ghana as result took too many projects at the same time. If you have any doubt look around you.
I'm sure sure he was big enough to sit in all 40 cars
@@benani1712 I bet you have no idea the kind and level of corruption,mismangement,wastefulness,insensitivity and sheer arrogance displayed by this clueless administration.
It's one thing pushing an unhealthy narrative to an unsuspecting group of people and another thing having to deal with the reality.
Be thankful that the average Ghanaian is less informed. The lady panelist cannot be taken serious.
Well, I was raised in West Africa, spent my adult life in the US but always with unequivocal bedded interest in Africa especially West Africa. The leaders of African government are known to be corrupt and unpatriotic have no doubt about that. At the same time, it will not be fair to throw every administration under the bus without facts: merely innuendos, speculations, unsubstantiated allegations. I am sensing all these screemings and shouting are based on political leanings. Nothing out of love for the country. If you have a any evidence you can substanciate prove it. Otherwise, don't create this unhealthy rumors, fanning disaffection for your country. Be patriotic, proffer a solution for better country. Don't tear down your country just because of your political leaning. Put the love of country first before personal interest. Ask not what your country can do for you but what you can do to make your country better for all and sundry. That's one area that the so called Western world have succeeded beyond measure. Contribute your quota to make your country better for you and the next generation to come. Criticism most be based on facts and with love of country before anything else.
Corruption is the main factor to Ghana’s current situation that we find ourselves in.
In Trinidad and Tobago too. Oil money is a laxative for the corrupt.
And over spending on unnecessary unprofitable things , over stuffing at the presidency
Their oil is in control of zionist Jews in the US and world zionist Jew IMF after the sale of their oil take their profit, later send them some crumbs to Ghana,
Almost affects our entire continent
That is Accurate assessment of the leaches in power , they carry Big envelopes 27% bigger, inflation an all
No one was supposed to be hungry in Africa.. we have vaste fertile lands,, our priorities are just somewhere else
Difficult to farm in a minefield
@@williamthebonquerer9181 Africa is huge man..
@@RK-ds3jk Ghana has bad farmland. Jungles make bad farms only good for cattle. Ghana needs more cows for its domestic chocolate industry anyway.
The massive savana land of Africa can be turned into huge wheat farms and Africa will become a net exporter of wheat not vice versa
@@georgepresley5120 no it can't and that would unpredictably damage the world's eco system. The Amazon rainforest required the Sahara.
Ghanaians let blame ourselves we always want people who have big degrees and being rich to be our leaders.
next time let try to vote for someone who have vision and better policies for the people and the country.
Thank you
U are speaking my language my brother. These our leaders are pure useless. The have no vision, period.
Big English small brain
Asking a Bretton Woods institution for help is like asking a Shark not to bite! One of the panellists hit the nail on the head. Focus on increasing production instead of consumption and loading more foreign debt. This vicious cycle [ borrowing from the IMF and adopting their programmes] has been going on for decades. Ghana and it's ECOWAS partners need to finally adopt measures that will help them be more self-sufficient, and thereby helping the African continent grow prosperous.
What are those self sufficient policies? You can't just increase production. You need to take a loan for tractors
you need currencies to pay for infrastructures and other cool things like education or administration. imports are a good way to acquire currencies. I think inequalities are oversighted in this.
🤣🤣🤣🤣
Ghana's major problems are:
1. Dollarisation of the economy.
2. Fiscal indiscipline.
4. Lack of ownership of means of productions by Ghanaians themselves.
I predicted this as far back as 2018/2019 some Ghanaians were insulting me. A Country whose economic management was touted as a model for other countries in has become a disaste! This is a Country with no major crisis it was dealing with, unlike some countries in Africa and yet cannot properly manage her economy. Terrible!
Also your president' s acquaintances with the French government is playing a major role in this crisis. Do you think that a lot of African countries are getting rid of the French ambassy for nothingness?
@@philotheelumbwenadio3652 in what way is the President of Nigeria playing a role in the crisis? Please explain.
How is your country faring
Please focus on Nigeria smh
@@anodeycare6748 far better than Ghana believes me. We have our destiny in our hands, yet we face challenges that are not unsurmountable. If you want to use security challenges against us; we are one of the countries shielding Ghana from terrorists that your President talked about weeks back, yet Ghana has made not a single contributions to anything. Typical of Ghana, yes the country that some of you Ghanaians refer to as the "poverty capital of the world" is putting her resources towards your protection. Hmm.
@@oluakinwale4859 Get rid of boko haram then speak. Africa is colonized period.
If our leaders doesn't help to grow our agricultural sector, next two years would be very bad than now. Our leaders misuses our money on unnecessary stuffs a lot.
Ghana have the same problem in1930 Iran had with the British, when BP, did not allow Iran to have control of their own oil when the nationalist leader of Iran Mossadegh fought in the world court won also get raid of BP, UK, of course, american later came by change regime, get raid of poor Mossadegh Iranian hero, and chose dictor shah for Iranian, but fortunate Iranian revolution fight the dictator, and now are free,
Or perhaps that's something the experienced diaspora can aid with as well. Also those already in the industry can share their knowledge to the local people including farmers on what they need to know.
I think by now we should know that the government cannot cover every ground, even ordinary people can do train up programmes community by community.
change the leaders....whats your problem?
@@emmanuelameyaw9735 Iran change the leader, by election find a hero who nationalize Iranian oil from control BP British oil industry, his name Mossadegh, there came CIA, and MI6 to Iran overthrow him, keep him in the same room for 35 years in captivity also buried in the same room, then came the US puppet dictator, that was the reason Iran had a revolution and now happy, are not slave zionist Jew and US and EU, also 45 years sanction, and Israeli wish US to fight with Iran to have free oil,
That's the solution bro.Malaysia made it only through palm nut tree farm.
I’m curious confused. How do you have a large gold deposit and government is broke
Corruption, there's nothing to be confused about. When there are people (university graduates) who work and earn less than $100 at the end of the month, and you have a president renting a private jet for $10k per hour, which is mostly parked and accruing debt on the nation, what can you expect?
When you have MPs (Members of Parliament), ministers, etc, who earn so much more than the average Ghanaian, yet they do not pay electricity bills, water, rent, and they don't even buy fuel to fuel those V8s they drive around cos they use fuel coupons to fill both their government assigned cars, their personal cars and cars for their girlfriends and friends. They don't get to experience the effects of their bad governance.
Talk about government institutions like NIA (National Identification Authority), Births and Deaths, Passport office, etc where officials who are getting paid at the end of the month, would not perform their duties for which they're receiving a salary, but would rather ask for bribe/"something small" to do a job they're already getting paid for. Such disgusting thing to do to your fellow.
Corruption is the source of pain for Ghanaians.
Because western power are taking everything, and if u refuse this is what u get as a leader. U people will stone you. Africa think
They are all crooks and thieves that's why
Ghana cedis is note tied to the gold
Because most of our natural resources are so low in percentage, they're not beneficial to the continent. They're just bad deals. The other problem is with all the natural resources we have we don't have universities that thought us how to mine them, we always depend on foreign engineers. Its doesn't matter how good you're as a leader you'll not succeed because the continent lack very important things.
Thank you for spending the time to create and share this content 🙏🏾
Ghana can solve each problem if the government invest more on agriculture and support the citizen to grow more food. Don't defend on outside country to feed your people.
Bro U nailed it right on point.That's the simple solution even many developed n European countries reached where they are through Agriculture.
Bro U nailed it right on point.That's the simple solution even many developed n European countries reached where they are through Agriculture.
Black American here, how much food does Ghana import?
@@jarvisaddison8560 Ghana imports 90% of its food. Ghana has some terrible financial agreements with China & the west which requires them to buy certain amounts of food in exchange for aid which undermines local production. Ghana has decades of terrible governance, it’s issues are largely self inflicted. The corruption is unprecedented in this administration, estimates that this administration has stolen $10-20B, Ghana GDP is only $73B. The President is believed to have stolen close to $2B himself. Like Trump he refused to release his tax disclosures both times he ran.
@@Erica-ls7bp Wow! Erica thanks for that important info. Especially the China part. Seems like China and the west behind China are trying to recolonize Sub Sahara Africa. Black nations need to really understand that they have no friends.
I totally agree with what Yaw Morday says at 21:50. The size of government is too much. You'll see one minister having 2 deputies or even his immediate deputy also have two deputies under them, doing what work?
You.dont know? Nana is sharing our money to family and cronies,that is why we are where we are.
Ghana has oil, does not depend on wheat, we could grow rice Ghana got 1bn USD in COVID fund. Ghana has no busuness going bankrupt. We have Gold and Iron.
Ghana that exports tomatos and then re-imports canned tomatos!
What a mess of a country!
Sad
Someone is exploiting their resources, when your leader tries to go against that exploitation. This is what u get. Nation's economy will be destroyed, people complain and take u out of power. Africa unite,try to understand how world works, support ur good leaders. Let them work instead of division. It's making their job difficult ,and we cnt achieve anything that way
Lol, stop dreaming. Remember we don't own the gold we have. We only get few percentage of our resources.
@@ramatgan1 it is crazy...I can't think far
I love that fact how they're allowed to protest and speaks out for the inflation of things, unlike the terrorist gov't in Nigeria that wouldn't allow anyone to protest in peace. Things in Nigeria is just out of it. So terrible.
Dear,
They are talking about Ghana and not Nigeria. Bring something unique about Nigeria for discussion. Tell us about the economic situation in Nigeria if you want.
Thank you 😊 .
Lol, Ghana is bankrupt, Nigeria is not
I thank al Jazeera for streaming this. Ghana has been struggling under this government for six years now.
you should think the issue is not your government, but is USD.. the world should ban USD
I hope the protest not sponsored by EU?
Only 6 years?
@@adonyark76 means the previous government was doing well as compare to this government who has taking the sit for 6 years..
Ghanaians must demonstrate like Sri Lanka's to force the president to resign immediately
@@africanlastborn7776 how?this is Africa,not Europe!
Ghanas problem is due to corruption and government incompetence,president has basically employed all his family and fiends into government offices without any economic knowledge, also printing money without parliamentary approval
I think their problem is their refusal to look themselves in the mirror and admit their weaknesses. They have been all over the place online denigrating Nigeria and anything Nigerian. Now the whole world is watching their economy tumbling down. Ghana was among the country mentioned by WION earlier this week as one of the countries that could potentially go the way of Sri Lanka.
In Trinidad and Tobago too. Oil money is a laxative for the corrupt.
Exactly. Thanks
We don't denigrate any country if citizens of Nigeria don't bring themselves.
To tell you the truth, with this crises, Ghana is still a million times better than Nigeria.
If Ghana has the Nigeria problem, we would have thrown out the political class long ago. Ghana does not have the structural basket case of Nigeria. We have a group of leaders who are incompetent in Ghana right now. We are only warming up for 2024 to kick the current party out. So don't fall for the hype as if Ghana is collapsing.
Check the traffic on the Accra Lagos route and see who is running into whose country.
Your own Nigerians are telling us that even in the current situation, Ghana is still far better than Nigeria
So in Ghana we look into the mirror, always. That is why we don't bother to compare our country to others unlike Nigerian youtubers who are so enamored about Ghana.
Be honest to yourself and check all the Nigerian youtubers coming to Ghana and compare to Ghanaian you tubers who go to Nigeria, weighted per capita and you will see yourself in the mirror
I deeply think Yvonne is really not on issues concerning Ghana's corruption situation. Corruption in Ghana is actually endemic and persistent on the rise
Almost all of Ghana's and greater Africa's corrupt officials and politicians are saving their stolen coffers in eurasian currencies.
Not local currencies. That said, the local corruption is in fact funded from external forces
Don't mind her so defensive so typical of ghana and they have no level
Exactly that's why the country is broke !!!
I recall the hope and optimism when Nana Akufo Addo ascended to the Presidency....sad that it hasn't worked out
Nana Akufo Addo is very corrupt. I first realised it when he started talking about colonialism in order to poison the Ghanian public's mind to what is really going on.
akufo is a coward, he can simply stop the taz evasion by the gold mines and the oil companies.
He was extremely arrogant from the start.
Ghana that exports tomatos and then re-imports canned tomatos!
What a mess of a country!
@@ramatgan1 the big guys at the government run a import monopoly, one is importing tin tomatoes accross the country, whilst we have local grown rotting away
Shalom my dear sister Femi, truly a divine pleasure seeing you bring thr facts out
Akuffo Addo is just like his father. Self-centred and wicked
No ,that's what media what you to think of him,you have a great president, support him .he's standing against world power. Think beyond media propaganda
The problems are corruption and mismanagement. Ghanians like to hide their pains and suffering unlike Nigerians that have no tolerance for any small challenges.
By that statement, I presume that Nigeria's economy must be doing great right now. All hail you.
They like fake hype , they are suffering and smiling in that Ghana
@@kabifest8897 dem suffer too much ghanaians
@@chrisoghenetegamaloney5799 u dey everywhere
you just watched a news item where Ghanaians are demonstrating against their government and yet you say they are hiding their suffering. Is it ok with your mental faculties, no wonder you hail from such a rubbish society. you fight anyhow and behave anyhow? do you know that the triggers in Ghana are different from Nigeria? do you understand the system we operate? Are you aware Ghana has the best democracy in West Africa and we don't have to even shout for our government to act? You knoweth not what you talketh about, mumu.
Apart from the lack of competence and the gross ineptitude that has characterized this clueless administration, from the president to the least appointee in government you see a sickening demonstration of such arrogance in the face of hardships and a gloomy future .
Choose between Western Debt Traps and China Debt Traps. All are hard choices.
China's banks is defaulting on their own peoples money due to the level of corruption.
The western ones are better especially the IMF. They are very good in forcing reforms
20 years ago the west wiped of Africa debt , clean sheet you can’t blame the west we even told African nations not to deal with China
Perhaps there should be a radio programme for the farming industry to transmit the necessary information and crop books distribution.
The lack of mechanization is a problem but if people learned how to do things well, then they could mechanize better after reaping.
Dear Bro.,
The problem is not mechanized farming; but corruption and mal-governance. Even with machines they won't know how to handle things.
Thanks 😊.
Ghana already has a whole television station for agriculture issues, but the fact is, even politicians steal the free fertilisers that are supposed to be given out to the farmers for sale.
Akufo-Addo is not a good president.. He is running Ghana to bankrupcy... He spends his time combating Mali on behalf of France, rather than focussing on Ghana governance... Akufo-Addo is deeply different from Kwame NKrumah... African people want to unit African countries... But Akufo-Addo is opposed to that unity because France asked him to...
He's the one uniting Ghana, look beyond media my friend. Ur real enemy, dnt lose faith in your president, support ,unite and focus
Its the same all over the globe 🌎
With over 200 ministers also I guess……
Life is how you make it……..we are beggars without borders we are.
The day a Man know what he need and not what he wants, that is the day he will be free from all problem.
Thank you for this report 😉❤️👑✅
If you review my twits in the past year, I warned about how dangerous NANA ADDO is. He is very good in his presentation of the English language, while he was the chairperson of the African intercontinental free trade zone, he defended the presence of the French troops in the Shahel region and most impoantly, he invited the American troops into Ghana. His actions, not the speeches should have raised alarm and questioned his leadership by the Ghanaian youth and mases at the time. The few that questioned his actions were either brutally beaten to death or silenced. Be vigilant, the struggle continues!
Ghanaians will never cease to surprise me what does he mean by "lots of countries look up to us in the region?"
Yea, for going broke obviously
@@gamrpresident 😀😀😀😀
Cape Verde, Nigeria and Ivory Coast > Ghana
@@shangothunder1055 u be mumu
@@derekemi5963 Facts don’t care about your hurt feelings.
What about the private farms growing food to be exported to Arab countries, that the governments in multiple african countries lease to foreign government,meanwhile the native and local citizens suffer,grow your own foods, fill your own store housing ,just like we do in the west, Stay strong my brothers and sisters,especially our babies 😪
Yvonne is unnecessarily defensive. Trying to blame everyone else but Ghanaian government. This is not good. Pandemic and Ukraine war are all contributory factors but every country including mine have major domestic factors that contributes to the economic crisis. Her contributions are biased 😒
It's very telling that Ghana first went to the IMF in 1966 with the overthrow of the socialist government of Kwame Nkrumah.
i agree , Ghana needs a socialist representation , to help the poor , former middle class , and Tax the Rich ,
@@duncanyourmate2433 Are there rich people in Ghana left apart from ministers
Ghana was in free fall even under communist nkrumah
@@gibson2675 Of cause this is when colonialism started it's rollback of true African independence and started assassinating various African leaders with the assistance of African puppet leaders.
Africa's way out is to take control of the AU and implement a United States of Africa. This will take mass action of Africa's young people. They might as well seeing n how they are dying at sea and being worked to death within Africa.
@@tee5634 The communist and Marxist have been saying this for over 70 years. Your statement is nothing new.
Am I in a different country from what is being described here? This looks like chaos and anarchy. No demonstration has taken place in Ghana for weeks now. What do these international media want from Africa?
Ghana that exports tomatos and then re-imports canned tomatos!
What a mess of a country!
Ghana that exports tomatos and then re-imports canned tomatos!
What a mess of a country!
Ghana's actual inflation could be above 40%. The rate of rise in food and other goods is crazy.
This documentary was orchestrated by the opposition party., things are not as they use to be, but there is no violence in the country.
Lady stop lying to yourself
Wasn't Ghana the best African country just last year?
IMF loans are also known as Neo-Colonialism.
China is better than imf.
😂
Very true. The terms of any loan are so onerous and always require countries to grant favorable terms to overseas so called 'investors' (more accurately the extraction of wealth and resources).
@@bkessel77 borrower is servant to the lender.
Yes it is Brother
Femi, IMF always prepares Ghana's economy in such away that the country falls again for another IMF programme. The 17th IMF programme prepared the country for this 18th programme
IMF's policies are based on ideology not economics.
Superstition
Imf can't do anything with thieves ruling the country
Don't approach them. Ask communist China for the loan
Correct
On the eve of the military operations in Ukraine, Putin gave a speech. In that speech, he called the US the empire of lies. He was referring to US politicians not the American people.
You believe what someone like Putin says?
@@tjr4459 Egyimie. A villager . He is far better than the clown you voted for.
@@tjr4459 I believe what was said, it's historical facts and it's biblical, speaking as a Jamaican.
There are many who have grown older and wiser. Jamaica is crippled because it borrowed from IMF too. I watch our prime minister back then that after they borrowed from IMF they had to shut down certain industries and start buying from America which further crippled our economy.
When they give you the money, they have control over how it should be spent.
Unfortunately, the reason the country went to IMF was because of crisis and demonstrations from the people which had gotten to the place of beginning to look violent.
I believe if everyone work together to do what they can, then this storm can blow over.
Every country has its storms, and every leader will get dirty somewhere and so many other things because the world only favour the elite.
1st world countries are most corrupt, then there is corruption where the smaller men are caught.
The country has to help itself, plant your own food even if small.
@@tjr4459 The marxist do,lol
@@cmartin5903 why biblical?
As in Sri Lanka, the root cause is the IMF.
SoKor people used to joke that IMF actually stood for "I'M Fired"...
Root cause is greed, impatience and stupidity. IMF is a biproduct and symptom of those things.
@@DearSX you can't sue those. Even if are real and valid, aren't tangible.
Sri Lanka is not currently in IMF program, they withdrew in 2019 and depended on China for G2G loans. They approached IMF for assistance after the economic collapse. IMF implements conditions against corruption, that's why local politicians don't like IMF.
If you watch this video @11.36, Minister of Finance of Ghana also says, we are not going to IMF. This was the same case in Sri Lanka at first.
Nonsense, which country is not in crisis in the present time?
Well in Ghana......it's the same in Kenya....unfortunately Kenyans we aren't going to the streets enough but well in to the vibrant youths of Africa....we must speak out
Inflation in Kenya is only 7% , in Ghana inflation is at 29% . Can't compare the two
Ghana is worst businesses are closing down
My Chinese coworker told me yesterday that some Africans not using their noggin, they export raw materials and then import at high-rates.This is one Chinese who has a heart for Africa at least in this conversation.
They don't have the heart of Africa..they are laughing at you. As long as we don't develop manufacturing and continue exporting raw materials we will always be behind and poor
So the Ghanaian finance minister cooked up his financial figures and miss reported Ghana’s economic data to the international market. How can he still be in office?
That's what the media want you to think, support and unite,look under your curtains and see real bad guy here.who is taking ur resources and telling your to borrow more to stay poor
@@Item7GO You are Part of the Problem. There is zero accountability for Ghanain politicians when they mess up that’s why we are begging to the IMF for the 18th time. How is it possible that our finance minister is out here faking financial figures to the world without anyone stoping him. And now that the truth is out he remains in position as if nothing happened. Ghana are we really serious or are we joking?
Never stop.speaking the truth.
Sammy - Thank you for speaking!
We have the same problem over here in America, food prices and raw materials or going up.
America has food banks, stimulus checks and welfare to ease people's plight
.
It’s everywhere dude….
Yeah , but here in America most people can just cut the fat…ie cable, eating out, movies, etc. We can buy cheaper off brand food and/or you can get an addition part time job to earn more money. This situation in Ghana seems much more serious!! It seems that there isn’t much to “cut” out of the budget and extra jobs don’t seem to be available.
Great Job as always Femi. Am a countryman of yours - from Nigeria. Could you please do some coverage of the current situation in Nigeria, given the escalating insecurity, economic hardship and the 'carnival of deception by the political class' especially as we head towards the 2023 elections. I believe your coverage could bring about greater enlightenment of our people who have been repeatedly shortchanged and deceived by our political class. Thank you.
Why is Ghana living in a vacuum or an Island isolated from the happenings in the world? Which country in the world is not having issues with inflation or high fuel prices or high food prices?
Your Ghana economy has collapsed and without the CLEANUP Stri Lanka case will be better than Ghana... Do you know the reason why IMF will interven in a country economy, Ghana is now like a car that knocked
Beautiful. Two Ghanaians just took that Renaissance Capital woke figurehead to school.
Decentralization of the national government, reducing the national government, reforming free SHS, investing in agriculture and roads will lift Ghana.
Excellent submission!
Ghana: inflation is at 27%
Zimbabwe: Hold my coins
It's now 54%, what a mess.
My friend and her husband are relocating from NYC to Ghana. They are both very excited. Based on this story, this may not be the best time.
Black Americans are colonizing Ghana in larger number. They’re doing what White Americans doing in NY…gentrification!
Inflation is all over the world now not just Ghana.
Here in America I believe it's 15-20% not the bullshit 8% the news feeds us!
Keep lying to yrself till it get worse and worst
Foolish being
The current finance minister is a cousin of the president, and most of the gov't appointees in very strategic positions in the country are related directly or indirectly to Akufo Addo. As we speak now, the Chief Justice of our country was allegedly involved in a $5M corruption scandal and yet the president refused to investigate and deal with the issue. In a good democratic country, a lot of what is happening now in Ghana would never take place. Our problem is that leadership has landed in the wrong hands and our people are paying dealy for it.
Same in amerikkk. STAY SAFE & HEALTHY!
@immortal Don’t be so quick to put down the government in Ghana. I live in the UK and there’s corruption here too. For example, during the pandemic the government were issuing personal protective equipment contracts to their friends who then went on to make millions. I say this to say that corruption happens also in “democratic” countries, and nothing has been done to recover the money paid from the public purse. Corruption is world wide and absolute power corrupts absolutely.
@@byst8729 In other words, corruption is WORLDWIDE.
There is corruption even in heaven. Some angels are just not good people. Oops! Are they people?
Lies. How can most ministers be related to the president.
"We are not borrowing from IMF; we are not exporting our raw materials" That is where Ghana default..
You are correct, only if people can play the long term game to win. Instead of these complains .let's face it a free Africa.
When I looked at the world bank loans/grants documents, I noticed countries with most natural resources were given loans of exorbitant interest rates. Those with the least were given the less grants.
My conclusion, they will own all who are in default; Ghana is in big trouble if the government accepts these high interest rate. 70 pages of World Bank documents available to view.
I noticed there have been no likes or replies to your comment, this is part of the problem that Africa fails to deal with...put a blind eye to the power and evil destruction by the West!
Mensah Thompson is a well know supporter of the opposition party and his submission is a clear evidence of that. The lady is taking using facts and figures whereas he is talking using the noise and allegations from the opposition party , NDC. There is no evidence of a 1% chance of Ghana going to IMF if Covid-19 and Russia war hasn't happened
Tell us,how was our economy before COVID,at Covid and now the war? Dont give sweeping statements we were all here in Ghana.
Those figures are cooked and that is what is available. We are in Ghana and go to the markets.
Now tell us why your government after insulting the NDC and asking for a bail out from IMF which is less than all the billions they had and still no show.We may not even get the bailout because our books are cooked by a sakawa government.
Stop making excuses for this incompetent government.
US UK and EU setup Africa & South America as their toilet, the people there as toilet servant. Toilet must remain as toilet, not to develop. But China came around and develop the toilet to living room, the servant become owner. So they are very angry to lost the toilet.
Such as is a good example !
The whole situation is ridiculous and shameful. With the Covid19 or wars in Europe; Ghana's "food security" should not be questionable today. Just vote the incompetent and corrupt ones out. Thanks.
Dear Ghanaians be part of the solution and not of the problem. This has little to do with your leadership. Otherwise your demonstrations will only add a stability problem.
How should they be part of the solution. Talk is indeed cheap.
Please don't talk on issues you don't understand.
This is opposition party demonstration not the whole country demonstration, that guy speaking is a member of opposition party not ordinary Ghanaian.
This is everywhere in the world. This is why nations need to try and be self sufficient in the basic items like food, water , fertilizer and clean energy.
It is not the same. Africa is supressed by west and Africa by the whole world. The world steal gold, oil, minerals, fish, diamonds and peoples life on the continent so do in Ghana. Isnt it strange that rich african soil can not give a normal life for her people? The world fo not want Africa to be self sufficient. What is wheat from Ukrain doing in Africa? The world corrupt and frighten the leaders in Africa. How can it be that hardworking people of Ghana suffer?
Is not happening every where in the world bcos our situation is far more than what is happening around the world
That is not popular with the people though.
@@Flower-ck2bs Africa I difficult to produce in. The tropical regions of the world make farming difficult. I doubt Ghana will be food sufficient because it does not have enough land to feed the whole nation.
@@prosperabraham6511 thats a lie ghana is among the biggest gold producers in the world, this should never happen.
Akufo addo and Bawumia led npp government of Ghana have been Ghana's problems!!
The president has no clue, the vice president is a chronic and pathetic liar ...
They have to shamefully resign or coerced to resign!!!
If their country leader is like Singapore's Lee Kuan Yew, they will be as rich as Singapore instead of this failed state.
To give you an idea of the magnitude of success that Lee Kuan Yew achieved, when he took over Singapore, per capita income was about $400 and now, in only about two generations, it exceeds $59,000.
Over 30 year period… give context.
Maths and science is the secret, Africa must wake up from the slumber of Christian and Islamic superstition.
Singapore will be claimed by the Ocean in the future
Singapore is a globalized economy. If deglobalization starts happening all that wealth can be kissed goodbye.
This is a good conversation.
I think what happens in Sri Lanka should repeat it self in Ghana, we need to stand up against this corrupt government and tell him is time to go out bcos we are tired of this disaster. NPP GOVERNMENT IS THE WORST GOVERNMENT EVER IN GHANA
And how has the Sri Lankan uprising resolved the country's issues? If anything the situation is much worse now
NDC sympathiser
@@slimtv1309 we are still struggling because of bad leadership addo is a failure Npp never again in Ghana
@@afiaowusu20 don't mind these ignoramus centric maniacs, comparing Sri Lanka to Ghana, come n see them here how they are still suffering and running to work here
Do not politicize this situation. Name one Country that does not have an inflation right now. I’m not affiliated to any party but I’m proud of what the Ghana government is doing.
What has Ukrain to do with crisis in Ghana?
Food dummy and Nukes
Ofcourse, I forgot that others interrests are more important than peace.
@@Flower-ck2bs what's peace
They are just accusing innocent Russia/Ukraine
@@joecurry382 ?🤔
Excellent Moderator for an Interview. Bravo! To her.
They think it's bad now in ghana, it's gonna get 10 times worse...
It wont
Protest is starting again this week , it will surely get to Stri Lanka level
As an American, part-black (some ancestors came from Ghana, slaves) I am sorry to see Ghana in this condition. Compare Ghana to S Korea, they were in SIMILAR economic situation to Ghana in 1960s, Ghana needs to study how S Korea became so developed so fast. W Africans can certainly do this also.
I feel like we all _need this reminder_ today…
Whatever you do don’t let anything or anyone steal your joy.
This world is full of evil, hatred and grief, but it’s also full of beauty, hope and love.
Your perspective matter, choose to live above the negativity, choose to see the good, choose to remain soft in this harsh world.
~ *Paragonwords* ✍️
.
seems hard to blame anyone in particular. this is happening everywhere in the world. but if your economy was problematic before covid, etc. this situation only exacerbate what was already bad.conomy was problematic before covid, etc.
Famine is coming. Those who can see this are stocking up on food.
Yeah but Ghana doesn't depend on wheat from Ukraine neither does it rely on oil and gas from Russia so this is an issue of mismanagement and printing of money
@@vervetech9395 like i said, almost every country in the world, including the u.s., is facing these issues. they are talking about a recession in the u.s., and it would probably be global. the u.s. is actually a large producer of oil and wheat. wheat and oil/gas are just pieces in the puzzle. it's not merely mismanagement and printing money.
You don't like Americans I thought
@@vervetech9395 We are all dependent on one another. If there is a shortage in one country they will go and buy food from a different region which can then cause a shortage in a different region
The current crises in Ghana boil down to poor leadership and extreme rate of corruption.
Let's leave out COVID and the Ukraine crises
The Ukraine crisis is causing a global famine
@@grahamt5924 Dont mind this guy. He doesn't read world news.
@Anjun 241 watch Peter Zeihan talk about global fertilizer production and the effects on fertilizer distribution caused by this war, if you want to see why Ukraine is so important to agriculture
The long term solution is that Ghana should get serious leaders who will aim at REDUCING the cost of RENT & FOOD by having FEWER but VERY EFFICIENT AGRICULTURE & CONSTRUCTION (homes & transport) industries. Reduced food/rent will INCREASE average households/individual DISPOSABLE INCOMES, purchasing power & SAVINGS. Eventually INTEREST RATES will REDUCE enabling entrepreneurs & investments to CREATE EMPLOYMENT & thus TAX revenues will increase WITHOUT IMPOVERISHING the govt & the people. The ultimate key is getting PROPER LEADERS & NOT greedy irresponsible/reckless KLEPTOCRATS like Akufo-Addo & Mahama types
U said it all...bad leadership is our problem
Well said man 🤛🏾
@@amistoalets3 African problem
“Never trust money more than gold”, “Because gold is honest money it is disliked by dishonest men”. “We have gold because we cannot trust governments.”
They don't think of the people
They will never release you from clutches of imperial colonialism. As long as you want to be like them, you are in the spiders web. You don’t know who is who. You will continue to walk through the valley of shadow of death 💀. Your only escape is to seek guidance from the most high and protection 🙏. Keep moving forward with economic plans and prepare for the worst. God almighty test’s those he loves. Peace out
Convenient to blame "colonial imperialism" when corrupt leadership is the current problem.
@@jacqdanieles well, that’s one of the operating components of colonialism.If you are a typical non white with no pride from where you come from, the result will manifest itself in your behavior. The Good leaders usually get killed off before they can make any difference. Example Patrice Lumumba of Congo, Murtala Mohammed, And so on. Paul kagami is the only in Africa that is making any difference. I don’t know how he is doing it. They will get rid of him very soon. I’m praying for him and his families. We must have pride of where we come from. I’m bless to be a Muslim and African at the same time. What about you Jacq?
You are correct, Africa unite and take control of your resources stop borrowing
@@Item7GO Gread, the root of one of these evil actions
Hey oh. I would rather eat soil and Garri than borrow from IMF.
I know someone who lives in Ghana 🇬🇭. I hope her and her family is doing well.
Why is Yvonne justifying the current situation as though if it’s the same in other African countries then it’s ok?To the point of downplaying the corruption issues what does she stand to gain?
Please name one country that that the IFM or the world Bank have help?
Why do my West African brothers all say 'Square' meal. What is so square about a meal? 🤣
🌿🌏🌴 _Each of us has a role to play in protecting our planet_ 🌍🌎
This is soo closed minded, the world is suffering so why is focus on Ghana
It is interesting that this unrest and IMF loan issues are surfacing when Lavrov is visiting African countries! Guess who is stirring the pot.
The IMF and World Bank are hindrance to Africa economic progress. African governments will always be caught in a vicious economic entanglement so long as they rely on oppressive financial entities that seeks to keep them in debts. Judging from the statement released by Ghana Financial Minister, notwithstanding corruption, Ghana is trying very hard to fight these devils.
Correct, Africa thing .unite
Stay away from imf colonial debt trap loans I beg …
@@robbiewizz658 correct it is not only a debt trap but dead trap.
Honestly, I don't understand. Because prices have grown, but salaries didn't. How can any fund help ordinary citizens?..
The old order reaffirming its grip
Only God can save my country Ghana
A Nigerian host and NDC member hmmm.
So Bc she is Nigerian she is wrong? And all the people she invited are Ghanaians like u
@@iyiolaabosede9500 you don’t get it.
The problem is the system that is implemented all over Africa, speak all U want, Get it together ❤
Ghana was doing very well before Covid and Russ-Uk war. People are also inflating the situation. I live in Ghana and yes, fuel prices has gone up, but it's nothing like sri Lanka.
My brother say the truth. Ghana's economy started crushing from 2019 and at that time there was no COVID-19 or Rusia-Ukrain war
Ghana economy was not good even before covid and Ukrain.
Ghana that exports tomatos and then re-imports canned tomatos!
What a mess of a country!
Osam,
People exaggerated things. You live in Ghana and things are not that bad. Things are not bad for you or the majority who are taking to the streets ? How cynical can some Blacks be, if you're one. If not, I will understand that the way Ghana is going makes your day. So everything is fine in the paradise you found in Ghana where all privileges are given to foreign companies who can channel billions of dollars home from the resources in Ghana. How can anything go wrong in such a good country. Who freaking cares about the Ghanaian People ?
And herein lies the problem. People bought into the government telling them the country was doing well before covid. Prior to covid Ghana was able to mask economic problems by borrowing. A significant amount of this borrowing was in foreign currency at unpresidented levels. If people cared to track this they would have realised that with the low revenue collection combined with corruption, there was no way the country could sustain paying its foreign debt interest, irrespective of external shocks. Covid and other external shocks just forced reality to show its face earlier but to say things were good is just buying into the propaganda the government had spun to cover what was truly going on.
People want to come to Ghana and invest but when the president said you need to take the shot in order to enter stop a lot of investment.
It's unfortunate for one to listen to such luck of knowledge and propaganda person like Sammy Gyamfi being put out there by John Dramani Mahama to destroy the image of Ghana. It's not going to work. Shame unto the NDC party being led by John Dramani Mahama.
Patriotism is good,but reality on ground will always overshadow fake hype ,Ghanaian like dwelling on fake hypes ..Your Ghana economy has collapsed and without the CLEANUP Stri Lanka case will be better than Ghana... Do you know the reason why IMF will interven in a country economy, Ghana is now like a car that knocked
You are correct, all propaganda, they want you to take out your leader and elect puppets. Think Africa, unite ,support ur leaders. These guys are against world corrupt power to keep Africa divide and poor for their own gain (your resources)
All these people who are saying it's hard in Ghana, are they not the same people praying in churches 24/7 and not going to work.? Thinking food will fall from heaven ?
Ghana is experiencing what South Africa 🇿🇦 is experiencing,so nothing new news here.
What do you mean? It is so in all african countries! Would Africa surrender?
Hopefully
Your Ghana is in deep mess not all African countries are experiencing what you are experiencing in Ghana
@@Flower-ck2bs not all of Africa that's a cheap excuse
Tell them. In kenya, Ethiopia, Uganda water is 1-2 dollars, so they're just giving excuses insteading of working together from the top down
NEO-COLONISM MUST STOP THE PEOPLE OF GHANA 🇬🇭 DESERVES BETTER!!!GHANA HAS ALWAYS BEEN AT THE FOREFRONT OF THE AFRIKAN LIBERATION STRUGGLE 🇬🇭
I absolutely hate this political system "democracy"we have. Our hope of any good leader is in the hands of these two political parties and we know that those who get to represent their parties and run for president are not really competent just anyone who has money and can give good speeches.
@Osam. You said it. Democracy is flawed because those with campaign funds can hijack it. People feel they elected their leaders but actually these guys prioritize by serving their funders. Then don't necessarily do what's good for the country.
It's the same in most countries. India, USA and others.
Democracy is a farce.
Consider tge alternative those with tje biggest guns and armies rule. ✌
@@hughporter2541 or Singapore?
@@osam6356 Ghana that exports tomatos and then re-imports canned tomatos!
What a mess of a country!
@@osam6356 singapore is truly exceptional. but lets be honest u more likly to end up like zimbabwe