THIS MATTER WE HAVE GET, IT IS GOOD? Creativity has always been lacking at our national level on how to maximize our income generation whether it is local or foreign. In the past we succeeded in raising taxes and fuel prices year on year - afterall, Ghanaians are humble, they never complain; and magicians, so they always pay up. Of course over time, the citizens began to feel the cummulative burden of such goliath tax loads and we shifted and stayed with local and mainly external debts be it directly from the World Bank, IFC, Foreign Governments or IMF. WoW! Come and see creativity in Public Funding. Over time again, we questioned why the WB and IMF as external entities were always playing ampe with our finances. So what do we do? We ask them to go and take a siesta while we think about new ways around our non-creativite financial management. Next stop? Euro Blondes. Praise the Lord. Call them bonds, bombs, Financial Obinims or whatever, they will always remain what they really are - debts. Debts that the public will have to pay now or in the future. Only difference being we are now collecting susu from a larger number of people in Europe and elsewhere, rather than the few cartel members of the WB and IMF. Finally, when heaven smiled on us - we found Oil. Gloooooryy!!! Can I get a Hallelujah? Oh the Lord has been good ooh. So the Church of Latter Day National Patriots sold out a chunk of our first oil lots in forward contracts because their trotro had arrived and they had to leave the political Takoradi Station. Their successors, Divine Democratic Congress Ministries International, came, and they too...Setewaa for the Ghana people - they chopulated what was left, including the small Hausa koko that was left for the nkorlaa - our Heritage and other Sovereign funds!! Now, the little oil we ought to start selling and we hear Pooyakaa : Oil prices have dropped faster than gravity would allow mangos to drop on old Rogers grave; and as if thats not enough, now USA is on course to match or produce more oil than the Saudis by 2016. Mini san3 mpo n3? Oil is about to get cheap and Europe is about to enter Deflationery crisis but guess what? The beautiful people of Kojokrom will still be paying inflationary prices for cheap Oil. Insha Allahu!! Apart from worrying what our next line of action is going to be for public funding, I am further concerned that all the traditional methods of public funding are running out (considering also that donor funds have long dried up). Sarcastically however, the last option is the very option considered a TABOO in our national economics school of thought - Cuts in Public Spending. WHY?? Because each arm of our public spending is actually a human arm and as such, cutting public spending may litterally result in cutting down the arm of some big men and womans - But we are here now - Prease! It is good? If not, what we are did now?
Posted on: Thu, 11 Dec 2014 07:37:08 +0000
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