My respectable policy wonk, Bright Simons gave me another reason to push for corporate support to do proper accounting as far as living costs are concerned in Ghana. So IMANI, your local think tank has concluded economic talks with Databank to take over the conduct of the Economic Reality Index (ERI) and give it life:) The ERI is the first welfare index for Ghana with technical support from seasoned economic analysts from prestigious banks, investment advisory firms such as Databank and Cambridge Capital Evron Hughes to be co opted) and independent financial analysts such as Sydney Casely-Hayford (to be co opted)with data support from leading Ghanaian businesses. The Economic Realty Index (ERI) is an index that tracks the welfare of the Ghanaian based on the basic necessities of life. The index will seek to promote all-inclusive growth, and serves as a single comprehensive statistic that reflects the impact of macroeconomic policies and public spending on the welfare of the average Ghanaian. This index is crucial especially as national accounting efforts are usually confusing. Take for this scenario explained by Bright Simons for instance. In a country where the minimum wage is $500 a year, it is frightening to hear that people earning $4000 per year (GHS1,000 a month) are apparently struggling to make ends meet. This is equivalent to saying that someone earning $116,000 per year in the USA is struggling to make ends meet. In the US, such a salary places the earner in the top 16% of the population, if she is the sole bread-winner in the household. A household with two such earners will be in the top 3% of the US population. It is hard to find data on the distribution of income in Ghana up to a unit percentage point. But the average income of the top 20% of households is about GHS2250 per year (GLSS5). There is something crazy going on about the cost of living to wages ratio on these shores The index will be published quarterly. Financial support which will be crucial for the success of this project is being sought LOCALLY. Just may be Minister for Information Hon. Ayarigah is statistically right, when he says there is no economic crises in Ghana when everything else points to the exact opposite. Let us tame such purveyors of Tigare and vodoo statistics with real data. Let me know my Ghana folks, how you can contribute to making the Economic Reality Index happen for Ghana. Good morning. Kofi Blankson Ocansey Kafu Kofi Tsikata Guy Foxx Kwadwo Nyamba Kwame E Bidi Kwame Tieku Kwame Gyan Nhyira Addo Amidu Ibrahim- R. Yofi Grant Nana Yaa Ofori-Atta Selorm Branttie Patrick Kwabena Stephenson Kofi B Bentil Pilar Rukavina Isabelle Akosua Ann-Platinum Amenuvor Nii Ashitey Armah Marcia Mamaa Kayie Ashong Nii Anang T Fiyinfoluwa Elegbede Aboagye T. Mintah Norah Owaraga Festus Akuetteh Ankrah Aba Da-Woode Alexis Kwame Amey Theo Acheampong Papa AbakahRichard Dela Sky H Kwasi Prempeh Kwasi Adarkwa Ogya Esi Maame Esi Ansaba K-Larbi Tom Aquinas Sambah Tom G. Palmer Alejandro Antonio Chafuen Bridgett Wagner Linda Whetstone
Posted on: Fri, 20 Jun 2014 05:25:05 +0000
Trending Topics
Recently Viewed Topics
© 2015