Economists support gov’t bailout policy with IMF

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GHANABA 1 9 years ago

Only silly Idiots will support an IMF Bailout.
IMF bailout is a disaster for a poor nation like Ghana.We are going to experience more hardships and the results will be more violent.
Any good Economist will never support suc ...
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Only silly Idiots will support an IMF Bailout.
IMF bailout is a disaster for a poor nation like Ghana.We are going to experience more hardships and the results will be more violent.
Any good Economist will never support such bailout for his oe her country,Ndc has finished Ghana,
It's long overdue for the people to keep mute and watch ndc sinking the nation
KOLA, INSIDE LONDON. 9 years ago

The subsequent hardship from NPP's HIPC economic policies which has reared its ugly head today it's being corrected by the NDC administration.

The Maladministration of the Kronfuor's EBOLA eating, chewing Government and th ...
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The subsequent hardship from NPP's HIPC economic policies which has reared its ugly head today it's being corrected by the NDC administration.

The Maladministration of the Kronfuor's EBOLA eating, chewing Government and the Dagati Economics by Dr. Bawumia imposed on Ghanaians are now under correction by Dr. Tekper, the new Finance Minister of the NDC Gov.

It has been noted that, the Looting of our Old Currency by the highest thief, Kufuor and which had Roko Frimpong, of Commercial Bank gruesomely murdered through a contract killing had played a Gargantuan role in the dwindling value of the cedi yet Kronfuor the thief is walking free.

After listening to top economists, IMF BAIL OUT will see Ghana retain her status of a Middle Income Nation, not the mirage one claimed by the thieves, NPP.
Koo Nimo 9 years ago

Kola it is very clear that your brain has not been wired properly. What is happening in Ghana today is the because of the policies of the clueless NDC adminstration. Do not blame the NPP. I bet you are in London living on ben ...
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Kola it is very clear that your brain has not been wired properly. What is happening in Ghana today is the because of the policies of the clueless NDC adminstration. Do not blame the NPP. I bet you are in London living on benefits from the British tax payer
Di Nokware & Di Asempa 9 years ago

Folks,
What a pity! In the circumstances where "TECHNOCRATS (ACADEMIA) HAVE BECOME POLITICIANS AND POLITICIANS HAVE BECOME TECHNOCRATS" expect such "loose and unreasonable" talks. How can this Dr. Gatsi be saying what he is ...
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Folks,
What a pity! In the circumstances where "TECHNOCRATS (ACADEMIA) HAVE BECOME POLITICIANS AND POLITICIANS HAVE BECOME TECHNOCRATS" expect such "loose and unreasonable" talks. How can this Dr. Gatsi be saying what he is saying?

Is he trying to justify to Govt and the powers-that-be that he must also be given a govt appointment? Maybe yes, so that he and his family can live well, whilst the majority in the country (including seasoned and tested economists) gnash.

If this Dr. Gatsi is lucky, per his utterances, to land a govt job (appointment), trust me he would spew more garbage. Without hesitation, may I suggest to Govt (the President) to nominate Gatsi for appointment as Minister of Finance or Governor of Bank of Ghana, to replace the current ones, immediately.

My goodness, some kind of a Dr and academia?
Akadu Mensema 9 years ago

?

?
Cofie 9 years ago

Just shocking. Absolutely incompetent body of so called Ghanaian intellectuals. After many years of financial debacles we have not developed any possible solutions or fixes internally to temporary stabilize such crisis. My Go ...
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Just shocking. Absolutely incompetent body of so called Ghanaian intellectuals. After many years of financial debacles we have not developed any possible solutions or fixes internally to temporary stabilize such crisis. My God what do students at Legon study? For every crisis we go back to the White man why don't you give the country back to them? I mean such incompetence...Why? There are politicians and business alliances salivating for the bailout from IMF or World Bank to steal, squander again a loan to be paid back. What is the matter with this good for nothing black faces that win elections in our government? Ghanaians are pitiful. Rwanda, Kenya, Uganda, who we think are backwards are doing economically well and are surely to surpass us. This is a Shame.
Cofie 9 years ago

Dr. Gatsi, you are a shame to our nation. Your kind is our problem. Your macroeconomics approach for the IMF bailout is wrong and pitiful at your level. Always taking a wide swipe with the paint brush. Such bad advise, incomp ...
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Dr. Gatsi, you are a shame to our nation. Your kind is our problem. Your macroeconomics approach for the IMF bailout is wrong and pitiful at your level. Always taking a wide swipe with the paint brush. Such bad advise, incompetence have gotten us in this mess.
NTIKUMA ANANSE 9 years ago

WHEN THEY SPEAK LIKE THIS, THEY ARE TRYING TO ATTRACT MAHAMA'S ATTENTION FOR POSITIONS IN THE NDC GOVERNMENT. APAAK, KPESAH-WHYTE, BATIDAM ETC GOT THEIR POSITIONS WITH EMPTY TALK LIKE THIS. THEY HAVE PHDS YET HAVE NOT PRACTIC ...
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WHEN THEY SPEAK LIKE THIS, THEY ARE TRYING TO ATTRACT MAHAMA'S ATTENTION FOR POSITIONS IN THE NDC GOVERNMENT. APAAK, KPESAH-WHYTE, BATIDAM ETC GOT THEIR POSITIONS WITH EMPTY TALK LIKE THIS. THEY HAVE PHDS YET HAVE NOT PRACTICAL SOLUTIONS TO ANY NATIONAL PROBLEMS.
Seth Owusu 9 years ago

Ghana is going through a recession - all being part of the excessive spending by past administrations. Most countries, including the developed ones, go through recession every couple of years. Just a few years ago, the US w ...
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Ghana is going through a recession - all being part of the excessive spending by past administrations. Most countries, including the developed ones, go through recession every couple of years. Just a few years ago, the US went through the same problem. The auto industry and the banks were seriously affected and had to seek government bailouts in billions of dollars. Workers lost their jobs, could not pay their mortgage and had to abandon their homes whilst others were repossessed for non-payment.

I think Osafo Maafo, as an economist and also part of the problem should be aware of this and stop his partisan politics. Can he tell us why Kuffuor removed him from the Finance Ministry?
NBTT 9 years ago

A COMBINATION OF THREATS AND INTIMIDATION WAS USED TO FORCE GHANA TO ACCEPT AN IMF LOAN IN ORDER TO ALLOW THE USA TO USE THESE LOANS AS LEVERAGE TO FORCE US TO DO WHAT THEY WANT.External enemies coupled by an incompetent and ...
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A COMBINATION OF THREATS AND INTIMIDATION WAS USED TO FORCE GHANA TO ACCEPT AN IMF LOAN IN ORDER TO ALLOW THE USA TO USE THESE LOANS AS LEVERAGE TO FORCE US TO DO WHAT THEY WANT.External enemies coupled by an incompetent and corrupt Ghanaian government has made Ghana extremely vulnerable to foreign exploitation. When a country's government is riddled with corruption it is easy for foreign powers to support and encourage opposition against that government. Threats of exposure of corruption by individual government officials (foreign bank accounts etc) threats of sanctions and freezing of assets of individuals is usually enough to intimidate recalcitrant politicians and government officials into submission. Hence we see the Ghana government do a complete u-turn in its position regarding taking deadly IMF loans. THE SALUTARY LESSON HERE IS THIS: ANY GOVERNMENT RIDDLED WITH CORRUPTION IS VERY VULNERABLE TO COERCION AND MANIPULATION BY MALEVOLENT FOREIGN POWERS.CONVERSELY ONLY A GOVERNMENT MADE UP OF DEDICATED AND SCRUPULOUSLY HONEST INDIVIDUALS WITH A REAL LOVE FOR GHANA CAN WITHSTAND THESE DESTRUCTIVE MANIPULATIVE INTERVENTIONS FROM ABROAD

For those foolish enough to buy the IMF "stabilization" nonsense,including the "learned" Kwame Pianim I would recommend that they read the book by Perkins:

Confessions of an Economic Hit Man is a book written by John Perkins and published in 2004. It provides Perkins' account of his career with consulting firm Chas. T. Main in Boston. Before employment with the firm, he interviewed for a job with the National Security Agency (NSA). Perkins claims that this interview effectively constituted an independent screening which led to his subsequent hiring by Einar Greve,[1] a member of the firm (and alleged NSA liaison) to become a self-described "economic hit man".

According to Perkins, he began writing Confessions of an Economic Hit Man in the 1980s, but "threats or bribes always convinced [him] to stop."

According to his book, Perkins' function was to convince the political and financial leadership of underdeveloped countries to accept enormous development loans from institutions like the World Bank and USAID. Saddled with debts they could not hope to pay, those countries were forced to acquiesce to political pressure from the United States on a variety of issues. Perkins argues in his book that developing nations were effectively neutralized politically, had their wealth gaps driven wider and economies crippled in the long run. In this capacity Perkins recounts his meetings with some prominent individuals, including Graham Greene and Omar Torrijos. Perkins describes the role of an EHM as follows:
“

Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars. They funnel money from the World Bank, the U.S. Agency for International Development (USAID), and other foreign "aid" organizations into the coffers of huge corporations and the pockets of a few wealthy families who control the planet's natural resources. Their tools included fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as empire, but one that has taken on new and terrifying dimensions during this time of globalization.
”
The epilogue to the 2006 edition provides a rebuttal to the current move by the G8 nations to forgive Third World debt. Perkins charges that the proposed conditions for this debt forgiveness require countries to privatise their health, education, electric, water and other public services. Those countries would also have to discontinue subsidies and trade restrictions that support local business, but accept the continued subsidization of certain G8 businesses by the US and other G8 countries, and the erection of trade barriers on imports that threaten G8 industries.

In the book, Perkins repeatedly denies the existence of a "conspiracy." Instead, Perkins carefully discusses the role of corporatocracy.[2] – November 4, 2004 interview
“

I was initially recruited while I was in business school back in the late sixties by the National Security Agency, the nation’s largest and least understood spy organization; but ultimately I worked for private corporations. The first real economic hit man was back in the early 1950s, Kermit Roosevelt, Jr., the grandson of Teddy, who overthrew the government of Iran, a democratically elected government, Mossadegh’s government who was Time‘s magazine person of the year; and he was so successful at doing this without any bloodshed—well, there was a little bloodshed, but no military intervention, just spending millions of dollars and replaced Mossadegh with the Shah of Iran. At that point, we understood that this idea of economic hit man was an extremely good one. We didn’t have to worry about the threat of war with Russia when we did it this way. The problem with that was that Roosevelt was a C.I.A. agent. He was a government employee. Had he been caught, we would have been in a lot of trouble. It would have been very embarrassing. So, at that point, the decision was made to use organizations like the C.I.A. and the N.S.A. to recruit potential economic hit men like me and then send us to work for private consulting companies, engineering firms, construction companies, so that if we were caught, there would be no connection with the government

THE TRAITORS IN OUR MIDST WHO ARE HAPPY TO SELL GHANA IN EXCHANGE FOR VARIOUS FAVOURS AND MONETARY GAIN OFFERED BY THOSE WHO WISH TO ENSLAVE US THIS TIME NOT PHYSICALLY BUT RATHER BY MEANS OF CRIPPLING DEBT I SAY TO THEM EXAMINE YOUR CONSCIENCES
Concerned Ghanaian 9 years ago

How many book long economists do we have in Ghana? And yet we cannot run our very basic economy. All these useless economists do not offer any pragmatic solution to solve our problems apart from being sycophantic at any oppor ...
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How many book long economists do we have in Ghana? And yet we cannot run our very basic economy. All these useless economists do not offer any pragmatic solution to solve our problems apart from being sycophantic at any opportunity because each one of them is hoping for a gravy train post from govt so they cannot be critical and offer any good advice .

Theoretical economics do not work in the real world especially in very basic economies that we have in Africa where most things are informal.

Most of so-called academic economists would be better off to get some real training from the traders in Makola and Katamanto. At best they should go and run small businesses in Ghana, after a few years at the coal face they would realised a better training than their irrelevant non-productive degrees which they are always attempting to frighten Ghanaians with.
VICTOR BAIDOO, SOUTH AFRICA 9 years ago

ARE THESE REAL ECONOMISTS? LET’S JUST SIMPLIFY GHANA’S SITUATION SO THAT PEOPLE WITH LIMITED BOOK KNOWLEDGE CAN UNDERSTANT.
JUST UNDERSTAND THESE: “A FAMILY THAT PERPERTUALLY LIVES ON LOANS HAS DESTINY CALLED ‘DOO ...
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ARE THESE REAL ECONOMISTS? LET’S JUST SIMPLIFY GHANA’S SITUATION SO THAT PEOPLE WITH LIMITED BOOK KNOWLEDGE CAN UNDERSTANT.
JUST UNDERSTAND THESE: “A FAMILY THAT PERPERTUALLY LIVES ON LOANS HAS DESTINY CALLED ‘DOOM’ ”. AND DON’T BE HAPPY WHEN MONEY LENDERS PRAISE YOU
UNFORTUNATLEY THE ABOVE HAVE BEEN GHANA’S LOTS SINCE THE 80’S, AND HENCE TODAY’S DOOM
BE REMINDED: FORMER PRESIDENT JJ STARTED WITH IMF ‘S STRUCTURAL ADJUSTMENTS LOANS. HE WENT ON TO BORROWED MONEY FOR ALMOST EVERYTHING INCLUDING FOOD THAT COULD BE PRODUCED LOCALLY. LARGE PORTIONS OF THESE LOANS WERE NOT INVESTED IN PROJECTS AND PROGRAMMES THAT COULD GENERATE WEALTH TO PAY BACK THE LOANS. SILLY IDEA BUT SOME ECONOMISTS IN GHANA PRAISED HIM FOR THAT.
REMEMBER THIS: FORMER PRESIDENT KUFOUR WENT HIPC BUT BORROWED MONEY TO CELEBRATE HIS BIRTHDAY (GHANA @ 50) HOPING THAT HIS WELLWISHERS WOULD BRING HIM DONATIONS TO PAY OFF THE LOANS AND GET SOMETHING EXTRA TO BUY BREAD FOR THE HOUSE. IS IT NOT THAT SIMPLE TO UNSDERSTAND GHANA @ 50? HMMMM! SILLY IDEA, ISN’T IT? BUT SOME ECONOMISTS IN GHANA PRAISED HIM FOR THAT.
AND CURRENT PRESIDENT MAHAMA HAS BORROWED MONEY MORE THAN WHAT ALL FORMER PRESIDENTS BORROWED PUT TOGETHER. HE RECENTLY APPLIED FOR LOANS TO BUY ‘AMOANSEE’ (SANITARY PADS) FOR HIS DAUGHTERS. WHICH FATHER IN GHANA HAS EVER DONE THAT WHEN THERE IS ALMOST NOTHING TO LIVE ON? ANOTHER SILLY IDEA BUT SOME ECONOMISTS IN GHANA PRAISED HIM FOR THIS
TODAY, SOME GHANAIAN ECONOMISTS ARE SUPPORTING A GOVERNMENT POLICY AIMED AT GAINING THE CONFIDENCE OF INTERNATIONAL MONEY LENDERS. WHAT FOR? SO THAT THE FATHER CAN CONTRACT ‘BIRTHDAY LOANS’ AND ‘AMOANSEE’ LOANS- NOT LOANS REVIVE THE FACTORYS ABANDONED BY THE STRUCTURAL ADJUSTMENT PROGRAMME
BIRTHDAY PRESIDENT AND AMOANSEE PRESEIDENTS FOR GHANA!
Bomfaboy 9 years ago

These two senior economists t the highest level, and in academia are saying the number of Technical Advisors and policy technocrats at the various ministries, finance and economic planning, Bank of Ghana, Trade and Industry ...
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These two senior economists t the highest level, and in academia are saying the number of Technical Advisors and policy technocrats at the various ministries, finance and economic planning, Bank of Ghana, Trade and Industry and at the presidency, are all USELESS.
Jojo 9 years ago

DO WE REALLY HAVE WELL EDUCATED AND TRAINED ECONOMISTS IN GHANA.

THEY HAVE ALL BECOMME ECONOMISTS IN THE COUNTRY FOR THE EXPORT OF RAW MATERIALS, COCOA, CASSAVA.,BANANA,PALM OII AND MINERAL RESOURCESO OF THE COUNTRY.

TH ...
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DO WE REALLY HAVE WELL EDUCATED AND TRAINED ECONOMISTS IN GHANA.

THEY HAVE ALL BECOMME ECONOMISTS IN THE COUNTRY FOR THE EXPORT OF RAW MATERIALS, COCOA, CASSAVA.,BANANA,PALM OII AND MINERAL RESOURCESO OF THE COUNTRY.

THEY ARE THE CAUSE OF GHANA'S ECONOMIC CHALLENGES AND DIFFICULTIES.

GHANA EARNS ITS HARD CURRENCY FROM EXPORT OF RAW MATERIALS. THIS HAS ONLY BECOME THE AVENUE FOR RETAILERS IN BUYING AND SELLING BUSINESS IN THE COUNTRY TO RECEIVE FROM BANK OF GHANA FOREIN EARNED CURRENCIES FOR THE IMPORTATION OF THEIR GOODS.

THE HARD CURRENCIES ARE ONLY PAID TO THE GOVERNMENT IN CEDIS.

ANOTHER PROBLEM IS, THERE IS ALSO PRESSURE ON THESE FUNDS THAT ARE USED FOR THE IMPORTATION OF EXPENSIVE LUXURY CARS AND JEEPS FOR THESE LAZY ECONOMISTS AND THE SO CALLED EDUCATED FOR THEIR CONTINUED HIGHLIFE AND MERRY MAKING IN THE COUNTRY.

THEY ARE HAILING THIS MOVE BY THE GOVERNMEMT BECAUSE THEY HAVE FAILED TO BE PRODUCTIVE IN THE COUNTRY.

IT IS INDEED SAD THAT, THE SO CALLED EDUCATED CONTINUE TO UNDERDEVELOP THE COUNTRY.

HOW LONG CAN WE ALLOW THIS TO GO ON IN THE COUNTRY.

Economists support gov’t bailout policy with IMF

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