1. Either the government keeps doing what they are doing now which is tax the heck out of the people, print funds for short term treasury bills and keep racking up local public debt. A method which is very unsustainable. 2. Or plan strategically to print funds for short term treasury bills but don’t use the funds to pay public debt. Rather invest it strategically in cash crops, working with the private sector, for a forecast to issue a huge bond. For instance, if we assess the amount of starch (from cassava) we can manufacture for local beer consumption and for export, we could probably issue, not cocoa bonds but cassava bonds. Cassava because we can do this in 6 months to 1 year. We need quick money. 3. Or go for IMF loans and keep our hands tied. 4. Or support the private sector to borrow instead of the government borrowing. Even Rawlings went on an “Invest in Ghana Promotional Tour”. We can create an application which works directly with the Ghana Stock Exchange to allow foreigners and Ghanaians living abroad to invest directly in Ghanaian companies or Funds. The government can then liaise with its foreign embassies to embark on an “Invest in Ghana Promotional Tour”. But we must set up the platform for the private sector to invest the funds in strategic income generating projects in manufacturing, energy and agriculture. 5. Or do some kind of combination.
Posted on: Sat, 26 Jul 2014 15:18:38 +0000
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