STOP PLAYING POLITICS ABOUT THE ECONOMIC MISHAPS JUST BECAUSE OF ELECTIONS It is important for everyone to understand that when the IMF is calling on Ghana to reduce its dependence on donor support does not imply that the IMF thinks we are borrowing too much. I just head an Accra radio station playing the voice of the presidents comments on loans at Kyebi against what the IMF is telling the government. Ghana is now a lower middle income country and that means we are no more regarded as very poor country that deserve freebies. In order to sustain our development agendas, which I think we all agree that we need badly, then we have just two options. The first option is to increase our domestic revenue through taxes and reduction in subsidies. It also means we need to increase our production of goods and services through massive industrialization. As it stands now the country dont have the necessary infrastructure that like roads, railways, power generation etc. to support any massive industrialization drive. The other alternative is to raise the financing through loans and unfortunately we can only to that with commercial loans. These will put a lot of burden on government expenditures as our interest portfolios will increase. These are the realities of the economic predicaments the government find herself and the various economists commenting are all aware of this situations and the Minister has also been very honest with the truth all the time including his presentation in parliament today. The other predicaments are that you and I are not ready to pay any more taxes and we also dont want government to completely remove subsidies on fuel and utilities. Lets not be happy about the call by the IMF to stop depending on donors budget support because the conditions attached to that call will not be palatable to Ghanaians at all. This government and the Finance Minister have never been hiding the facts from Ghanaians like it use to happen in previous governments. Massaging the truth like the Information Minister alluded to over the weekend. This however doesnt mean the economy is in tatters like Dr. Bawumia also want us to believe. Like I always say, problems are supposed to present themselves to enable human beings to think and solve those problems. It is only a lazy person who encounters problems and run away from them because he cant use his God given brains to find solutions. Lets all think about the best solutions to the current economic problems. And please lets give cogent solutions and not cosmetic ones which the ones even making them know from their heart that those cosmetic solutions will never solve the problems.
Posted on: Tue, 01 Apr 2014 17:11:15 +0000
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