Odoi-Sykes warns Govt: Prepare to pay the price for IMF bailout

Read Article

Comments (37)

This article is closed for comments.

Read Comments Comments (37)

Komla 9 years ago

They know nothing and will not listen. Don't waste your breathe on Mahama, Tekper, Wampah, Ni Thompson. But do you want them ever to win any election in Ghana again?

They know nothing and will not listen. Don't waste your breathe on Mahama, Tekper, Wampah, Ni Thompson. But do you want them ever to win any election in Ghana again?
NDC IS A CURSE 9 years ago

WHERE IS THE THREE BILLION DOLLARS LOAN FROM CHINA?GHANAIAN MUST STAND UP AND RESIST THIS EVIL DEAL BY MAHAMA OO!

WHERE IS THE THREE BILLION DOLLARS LOAN FROM CHINA?GHANAIAN MUST STAND UP AND RESIST THIS EVIL DEAL BY MAHAMA OO!
Pelicles 9 years ago

The Chinese has given Ghana just 600 million but we are paying interest on the three billion. Make sense and the Chinese are making more demands everyday about that loan. The opposition warned NDC but did not listen. Right ...
read full comment

The Chinese has given Ghana just 600 million but we are paying interest on the three billion. Make sense and the Chinese are making more demands everyday about that loan. The opposition warned NDC but did not listen. Right now, NDC is reeling under intense pressure by their own mistake.
HH 9 years ago

THEN LET MAHAMA TO PAY HIS

THEN LET MAHAMA TO PAY HIS
TerriblY Spe cifiC 9 years ago

NPP imposed a miserable economic policy during its 8yrs rule which had porous foundation.

NPP imposed a miserable economic policy during its 8yrs rule which had porous foundation.
Factually Reliable 9 years ago

Such minds i will like to lead a parties or hide behind the scenes give constructive criticisms. Oluuu you have earn my respect papa paa not the other desperado.

Such minds i will like to lead a parties or hide behind the scenes give constructive criticisms. Oluuu you have earn my respect papa paa not the other desperado.
abi 9 years ago

He needs to explain to Ghanaians how the IMF bailout will make them suffer. What are the consequences and the impact of the bailout on Ghanaians? We are yet to know the terms and conditions of the bailout and see how it will ...
read full comment

He needs to explain to Ghanaians how the IMF bailout will make them suffer. What are the consequences and the impact of the bailout on Ghanaians? We are yet to know the terms and conditions of the bailout and see how it will influence the state of the economy. I think it is too early to be jumping the gun.
Frank Agyena-Karikari 9 years ago

It is the JSS adults who will not know the consequences. Ghanaians have dealt with IMF many times and each time, the ordinary Ghanaian suffers. Ask Papa Jerry. Name one country IMF bailed out that the conditions of the people ...
read full comment

It is the JSS adults who will not know the consequences. Ghanaians have dealt with IMF many times and each time, the ordinary Ghanaian suffers. Ask Papa Jerry. Name one country IMF bailed out that the conditions of the people did not worsen. That is why Kuffour did not want to deal with them. There is going to be more unemployment and the fall of the Cedi. People, tighten your belt.
Pelicles 9 years ago

If you did not live through JJ's era then you have no idea what the bail out will do our fragile economy. There is going to be more unemployment, depreciation of the local currency and the IMF will dictates what to do and wha ...
read full comment

If you did not live through JJ's era then you have no idea what the bail out will do our fragile economy. There is going to be more unemployment, depreciation of the local currency and the IMF will dictates what to do and what not to do etc. They do not bow to the borrower's demand no matter how damaging their stringent policies will do to the economy.

Name one nation on this planet that went for IMF bail out and get what she need to the benefit of her citizens? No and never. Just wait to tighten you belt.
Abena 9 years ago

The suffering is that IMF will prescribe how to invest whatever it has given and most often than not such prescriptions do not address our most pressing needs. It rather at the end of the day put us in a position where we hav ...
read full comment

The suffering is that IMF will prescribe how to invest whatever it has given and most often than not such prescriptions do not address our most pressing needs. It rather at the end of the day put us in a position where we have to spend even the little we have benefit the west. Ghana wake up and lets begin from the grassroots. It looks appetizing but the taste may not be the best.
Maame Abena 9 years ago

Mahama's NDC government has no choice than to go the IMF way.
They have screwed the nations economy and now the hope for them is to seek the IMF help. They have had to swallow their pride. Now Ghanaians have to suffer their ...
read full comment

Mahama's NDC government has no choice than to go the IMF way.
They have screwed the nations economy and now the hope for them is to seek the IMF help. They have had to swallow their pride. Now Ghanaians have to suffer their incompetence.
I likened the NDC to a child who came to inherit so much wealth, because he/she did not work for the wealth, it all slipped out of his hands in a short time.
Kwaku 9 years ago

This is the type of person we want to see in our life. You are really a Papa, having your country Ghana at heart may you live long to see how God will Turn things around for Ghana. Continue to add your voice to every decision ...
read full comment

This is the type of person we want to see in our life. You are really a Papa, having your country Ghana at heart may you live long to see how God will Turn things around for Ghana. Continue to add your voice to every decision goverment will make.
NBTT 9 years ago

WHY GHANA IS IN GRAVE DANGER
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 employ ...
read full comment

WHY GHANA IS IN GRAVE DANGER
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.
ADWEN 9 years ago

NBTT, our politicians don't read after the acquire their degrees. After their graduation they feel they know everything although they lack experience and exposure.
Because they have no ideas about these tactics being practic ...
read full comment

NBTT, our politicians don't read after the acquire their degrees. After their graduation they feel they know everything although they lack experience and exposure.
Because they have no ideas about these tactics being practice by western governments to undermine them, they are always cheated and undermined. There are a lot of these revelations around to make our "leaders" aware but how many of them are interested in reading when all they think about is luxurious living at the expenses of their followers and citizens? Read this book too - The Liars Poker.
Foster 9 years ago

Africans are so illiterate.

Africans are so illiterate.
Hoho 9 years ago

These two parties are both in bed with the eu and america.
We need a new party in Gh for real like yesterday.

These two parties are both in bed with the eu and america.
We need a new party in Gh for real like yesterday.
Simba 9 years ago

Until we practice this,we are getting no where fast.
I pity the children because they have very daft adults for leaders and guides.

Until we practice this,we are getting no where fast.
I pity the children because they have very daft adults for leaders and guides.
H. Tawiah 9 years ago

Running a country is not all about winning elections. Sometimes, we must swallow the bitter pill for a better tomorrow.

We should not blame all our problems on President Mahama or the NDC. Our collective actions over t ...
read full comment

Running a country is not all about winning elections. Sometimes, we must swallow the bitter pill for a better tomorrow.

We should not blame all our problems on President Mahama or the NDC. Our collective actions over the years have landed us where we are today. Most of these retired politicians are chopping what they stole whilst in office. We know the rot and the looting that took place in the Ghana High Commission in Canada between 2000 and 2008. They grab with both hands when in office and preach like Saints when they leave office. How can K4 of all people be calling on Ghanaians to eschew corruption and get rich quick attitude?
Frank Agyena-Karikari 9 years ago

They are all corrupt. Does Papa Jerry too not portray himself as a saint? Is he? Does he not always preach against corruption? If you mention Kuffour, mention Papa J too because he also grabbed with both hands.

They are all corrupt. Does Papa Jerry too not portray himself as a saint? Is he? Does he not always preach against corruption? If you mention Kuffour, mention Papa J too because he also grabbed with both hands.
Pelicles 9 years ago

Remember that the IMF does not bow to the borrower's demand. They are going to dictate to us and that is where the problem lies. There is nothing like "swallowing a bitter pill for a better tomorrow under IMF". Did you live ...
read full comment

Remember that the IMF does not bow to the borrower's demand. They are going to dictate to us and that is where the problem lies. There is nothing like "swallowing a bitter pill for a better tomorrow under IMF". Did you live through JJ's era with the "Structural Adjustment Program"? The IMF came with that shit which devastate our economy under PNDC with Kwesi Botchway as the finance minister.
AbasZ 9 years ago

Tawiah wo ye kwasea pii.

Tawiah wo ye kwasea pii.
NON-ALIGNED 9 years ago

When are we ever going to learn?????
What has Kwesi Botchwey got to offer us? Apart from accepting every degrading proposals put to us by the IMF......OH! OSAGYEFO! YOU TOLD US SO!!!

Osagyefo warned against dependence on ...
read full comment

When are we ever going to learn?????
What has Kwesi Botchwey got to offer us? Apart from accepting every degrading proposals put to us by the IMF......OH! OSAGYEFO! YOU TOLD US SO!!!

Osagyefo warned against dependence on capitalist global institutions such as the United Nation Organization (UN) and the Bretton Woods institutions such as the IMF and World Bank. Of the UN he reminded us that the UN is the tool of the elite states which control the Security Council and that it was / is "just as reliable an instrument for world order and peace as the Great Powers are prepared to allow it to be." SOURCE: I Speak of Freedom, preface, p xii. BY NKRUMAH.

Fast forward to 2014 and we still have the likes of Kwesi Botchwey, who together with Dr. Joe Abbey and Rawlings in the 1980s, together with our current Vice President to the IMF/World Bank SAP programme, claiming to lay the structures for economic growth...................

These lot committed economic treason! And are still allowing them once again to take us to the hungry lion's den?

The K4s, Sam Jonahs and now Mahama have all let our nation down with their recklessness and continue to work for their slave masters, to the detriment of our children's future!

A word of warning to the GULLIBLE GHANAIANS, these few individuals always collaborate with the West to keep our citizens POOR and enrich themselves! They have NOTHING to offer Ghana but, lip-service after lip-service to keep us where we are.......in ABJECT POVERTY! Even though we have the rich natural resources that other nations are killing for!

The solution....as Kwame Nkrumah once said.........that the secret of life is to have no fear. Let us not be afraid. Let us capture the strategies and policies that enabled us gain independence and set the stage for our economic breakthrough. Let us recapture our agenda for freedom, freedom from fear and dependency.

NKRUMAH NEVER DIES!
GOD BLESS GHANA!
AFRICAN FOREVER!
Simba 9 years ago

Don't waste your time.
They enjoy serving and have low self esteem.

Don't waste your time.
They enjoy serving and have low self esteem.
NON-ALIGNED 9 years ago

Simba, I don't know why........ but, it hurts me to know that we just don't seem to get it!

How long are we going to remain in mental enslavement and bondage?
I blame our brainwash education system in place now. It offers ...
read full comment

Simba, I don't know why........ but, it hurts me to know that we just don't seem to get it!

How long are we going to remain in mental enslavement and bondage?
I blame our brainwash education system in place now. It offers nothing to our citizens but POVERTY MENTALITY.

And there are AFROPEANS in our midst, determined to keep it that way for good, to the detriment of our future generations.

GOD BLESS GHANA!
AFRICAN FOREVER!
Asantehene 9 years ago

Why are npp pipo afraid of any attempts being made by JM to solve the economic problems? What this man says any kg boy can say. its a diversionary tactics. We prefer to suffer today and gain moro. in any case what is his prob ...
read full comment

Why are npp pipo afraid of any attempts being made by JM to solve the economic problems? What this man says any kg boy can say. its a diversionary tactics. We prefer to suffer today and gain moro. in any case what is his problem if ndc looses the election if he is not afraid the imf bailout will rather restore the economy and make jm win?
KENKEY BOY 9 years ago

You, so-called Asantehene, I think that you are a young man, and did not see how Ghanaians suffered under Acheampong, Rawlings, and Kufour under this IMF policies. The problem is, we are always suffering, thinking that things ...
read full comment

You, so-called Asantehene, I think that you are a young man, and did not see how Ghanaians suffered under Acheampong, Rawlings, and Kufour under this IMF policies. The problem is, we are always suffering, thinking that things will get better in the future, only to find criminals to seize power, either genuinely or fraudulently to come and destroy all the gains made over the years through CREATE, LOOT, SHARE AND SHED CROCODILE TEARS practices. Mills-Mahama's NDC government, is a typical example of such national destructive elements. With such people in power, Ghana should forget about economic prosperity in the near future.
Papa Yaw. 9 years ago

No

No
EFO 9 years ago

PREACH UNITY IN NPP AND STOP ADVISING THE THIEVES

PREACH UNITY IN NPP AND STOP ADVISING THE THIEVES
GHANA MMA 9 years ago

I HAVE JUST PAID OVER GHc60,000.00 IMPORT DUTY TO GHANA CUSTOMS TO CLEAR MY VEHICLE FROM TEMA PORT.

ADDITIONALLY, I HAD PAID GHc30,000.00 TO CLEAR MY PERSONAL EFFECTS SEPARATELY TO GHANA CUSTOMS.

DRIVING AROUND ACCRA A ...
read full comment

I HAVE JUST PAID OVER GHc60,000.00 IMPORT DUTY TO GHANA CUSTOMS TO CLEAR MY VEHICLE FROM TEMA PORT.

ADDITIONALLY, I HAD PAID GHc30,000.00 TO CLEAR MY PERSONAL EFFECTS SEPARATELY TO GHANA CUSTOMS.

DRIVING AROUND ACCRA AND KUMASI, I COUNTED MORE THAN 30 OF MY VEHICLE ON OUR ROADS.

IMAGINE ALL THESE DAILY DUTIES PAID WENT INTO GHANA GOVERNMENT COFFERS, ONE WOULD BE TEMPTED TO ASK THIS QUESTION:

WHERE DO ALL THESE EXPLOITATIVE IMPORT DUTIES GO TO WHILE GHANA GOVERNMENT OFFICIALS ARE HOPELESSLY DEPENDENT ON LOANS OF EVERY DESCRIPTION TO UNDERTAKE INFRASTRUCTURE AND OTHER PROJECTS IN GHANA?

THESE SHAMELESS CORRUPT GHANA "LEADERS" ARE BLEEDING GHANA BIG TIME!
M.D 9 years ago

Hon ODoi-Sykes, we beg u, we NDC, party use Ghana money to buy cars, motor-bikes, etc. for chiefs, actors. we know that we will loose 2016 elections. but allow us to chop, chop.

Hon ODoi-Sykes, we beg u, we NDC, party use Ghana money to buy cars, motor-bikes, etc. for chiefs, actors. we know that we will loose 2016 elections. but allow us to chop, chop.
Haile Mengistus Manasseh V11 9 years ago

I see some of these statements and advices as very feeble as their source.If for political expediency and winning elections a gov't should not take actions that will in the long run benefit the masses? Then what next?. We see ...
read full comment

I see some of these statements and advices as very feeble as their source.If for political expediency and winning elections a gov't should not take actions that will in the long run benefit the masses? Then what next?. We seemed to be interested in what we can eat and drink today through our buy and sell attitude. We don't want to produce and eat our own foods and basic necessities and spent the bulk of our GDP on the importation of basic food items like rice and fish. Our labor front is lazy and only know how to agitate for increased salaries. These and other corruptive practices is killing the economy. Gov,t needs to act without political consideration to restore Ghana's economy to a creditable level. Ghanaians need a change of attitude and I support the Gov't in whatever measures will restore Ghana's economy even if in the short term it will cost the Gov't to loose an election. The Gov't can bounce back to power by using the success of it's present policies.Most feeble minded people think the current economic situation was the creation of the present Gov't. The fact is, it inherited an old sick economy. I rest my case for now.
Balderash 9 years ago

???

???
ABLETSI 9 years ago

ODOI SYKES, YOU DO NOT WANT NPP TO WIN POWER? IT APPEARS YOU DO NOT WANT NDC TO LOSE POWER IN 2016. ARE YOU NOT A FOUNDING MEMBER OF THE NPP?

ODOI SYKES, YOU DO NOT WANT NPP TO WIN POWER? IT APPEARS YOU DO NOT WANT NDC TO LOSE POWER IN 2016. ARE YOU NOT A FOUNDING MEMBER OF THE NPP?
Osei Yao 9 years ago

THESE ARE THE WORDS OF WISDOM DISTILLED FROM EXPERIENCE. LISTEN OR BE DAMNED.

THESE ARE THE WORDS OF WISDOM DISTILLED FROM EXPERIENCE. LISTEN OR BE DAMNED.
Victor A. Young 9 years ago

Thanks Hon. Odour Sykes for putting it bluntly to the clueless John Mahama and his NDC gov't. The fact is that the economic mess Ghanaians are going through is because of election fraud. The NDC stole the ballot with the hel ...
read full comment

Thanks Hon. Odour Sykes for putting it bluntly to the clueless John Mahama and his NDC gov't. The fact is that the economic mess Ghanaians are going through is because of election fraud. The NDC stole the ballot with the help of Justice Atuguba and Afari-Gyan. Now the evidence is clear; things continue to fall apart for Ghanaians. Mahama does have any options except to bite the bullet!
Haile Mengistus Manasseh V11 9 years ago

If you are sick and the bitter pills or injections will prevent you from going to see a physician then you will have to stay home and die. This what the old NPP man is telling the present Gov't. Meanwhile another leading memb ...
read full comment

If you are sick and the bitter pills or injections will prevent you from going to see a physician then you will have to stay home and die. This what the old NPP man is telling the present Gov't. Meanwhile another leading member who loves Ghana above parochial party line, Mr. Kwami Pianim is a member of the Gov't Economic team assisting the Gov't to find lasting solutions to the current economic situation.Oh what a paradox. We see here the nation lovers and the destroyers.So is the world.
Ebo Africaba 9 years ago

People of Ghana, if you have not read "Confessions of an Economic Hitman" now is the time to read that book. There is a saying in white America that says "if you want to hide something from a black person, just put it in a b ...
read full comment

People of Ghana, if you have not read "Confessions of an Economic Hitman" now is the time to read that book. There is a saying in white America that says "if you want to hide something from a black person, just put it in a book". This is the situation we are dealing with today in Ghana. God bless Ghana.

Odoi-Sykes warns Govt: Prepare to pay the price for IMF bailout

Read Comments .st0{display:none;fill:#14BDD3;} .st1{display:none;} .st2{display:inline;fill:#FC0F0F;} .st3{display:inline;fill:#FFFFFF;} .st4{display:inline;fill:none;stroke:#000000;stroke-width:6;stroke-miterlimit:10;} Comments (37)

Read Comments Comments (37)