'The mess is deep' – UG Professor laments bad state of the economy

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Sapiens 1 month ago

No, it's worse than that, it is a BLACK HOLE of unimaginable proportions which will cripple Ghana for the next thirty years!

No, it's worse than that, it is a BLACK HOLE of unimaginable proportions which will cripple Ghana for the next thirty years!
mr amin 1 month ago

Mr professor shut up you are ranting too much or the ndc has given u something

Mr professor shut up you are ranting too much or the ndc has given u something
Ghanaian abroad 1 month ago

The country is in a crisis and you say a comment online is “ranting too much” Stupid fool!

“My people are destroyed for lack of knowledge” Hosea 4:6

Hard times are coming for you and when it hits you, you will ...
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The country is in a crisis and you say a comment online is “ranting too much” Stupid fool!

“My people are destroyed for lack of knowledge” Hosea 4:6

Hard times are coming for you and when it hits you, you will not recover.
mr amin 1 month ago

@Ghanaian abroad your mum n dad are the typical fool get sence in to your coconut head useless nincompoops

@Ghanaian abroad your mum n dad are the typical fool get sence in to your coconut head useless nincompoops
Kk 1 month ago

African leaders are corrupt and wicked if you look at most Asian currencies compared to the dollar in the last 5 years you’ll notice only a slight change but with most African countries the opposite is the case

African leaders are corrupt and wicked if you look at most Asian currencies compared to the dollar in the last 5 years you’ll notice only a slight change but with most African countries the opposite is the case
Thief of Staff - Akosua Frema 1 month ago

Nana Addo is a liar, thief, crook, criminal, rapist, demon, hypocrite, pretender, wizard, fool, failure, traitor, betrayer, opportunist and murderer.

Nana Addo is a liar, thief, crook, criminal, rapist, demon, hypocrite, pretender, wizard, fool, failure, traitor, betrayer, opportunist and murderer.
Jkmee 1 month ago

And yet the one responsible for the collapse of the economy is going around flipfloping asking Ghanaians to vote for him to break the 8. It is very annoying especially when he is running away from his responsibility. He is fo ...
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And yet the one responsible for the collapse of the economy is going around flipfloping asking Ghanaians to vote for him to break the 8. It is very annoying especially when he is running away from his responsibility. He is fooling Ghanaians
mr amin 1 month ago

Yes some if us will.vote Bawumia to change the system and block corruption, implement flat rate at the port so that businesses can predict and stop chasing the doller because they can plan using the cedi

Yes some if us will.vote Bawumia to change the system and block corruption, implement flat rate at the port so that businesses can predict and stop chasing the doller because they can plan using the cedi
Kwame 2 days ago

@ ami. As vice president Dr. Bawumia needed to convince only Mr.Akufo Addo to implement his lofty ideas. His failure to do so means he is not a good negotiator and therefore should not get near the presidency.

@ ami. As vice president Dr. Bawumia needed to convince only Mr.Akufo Addo to implement his lofty ideas. His failure to do so means he is not a good negotiator and therefore should not get near the presidency.
Farmer 1 month ago

Dear Prof, with all due respect, but you are very late with your comments. Al this was clear at least one year ago.

Dear Prof, with all due respect, but you are very late with your comments. Al this was clear at least one year ago.
Dr Likee 1 month ago

Only the locals are made to pay these taxes. The foreigners are either exempted from taxes or evade taxes and bribe GRA officials when caught. Too many leakages in GRA. The Ewes are overly corrupt than the other tribes in GRA ...
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Only the locals are made to pay these taxes. The foreigners are either exempted from taxes or evade taxes and bribe GRA officials when caught. Too many leakages in GRA. The Ewes are overly corrupt than the other tribes in GRA. The Ewes are mostly NDC. What do you expect ?
Blame Akufo Addo and Bawumia 1 month ago

Bawumia has to be BANNED from politics

Bawumia has to be BANNED from politics
Elephant Farmer 1 month ago

Continue Professor. What could be the next step forward? Open book with empty pages.

Continue Professor. What could be the next step forward? Open book with empty pages.
Joeya Mponposuo 1 month ago

Its rather worrisome when you hear these comments. As a University Professor we expect you after stating the challenge should proffer appreciable solutions so that we will all digest on it instead of lamenting same as people ...
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Its rather worrisome when you hear these comments. As a University Professor we expect you after stating the challenge should proffer appreciable solutions so that we will all digest on it instead of lamenting same as people in the grassroots.You Guys should give us a break.
Koliko 1 month ago

All these armchair Profs and third rate economists like Kwame Pianim, only know how to rant about problems. They have no solutions to offer.

All these armchair Profs and third rate economists like Kwame Pianim, only know how to rant about problems. They have no solutions to offer.
KEJETIA 4 weeks ago

WO ABODAM YOUR LEADERS AND GOV'T MINISTERS ARE STEALING FROM THE STATE COFFERS EVERYDAY WHAT ADVISE THAT YOU THINK HE WILL GIVE TO THE COUNTRY THAT WILL REVERSE THE MESS? NONE IT'S MAN MADE PROBLEM

YOU LIVE IN BANANA REPU ...
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WO ABODAM YOUR LEADERS AND GOV'T MINISTERS ARE STEALING FROM THE STATE COFFERS EVERYDAY WHAT ADVISE THAT YOU THINK HE WILL GIVE TO THE COUNTRY THAT WILL REVERSE THE MESS? NONE IT'S MAN MADE PROBLEM

YOU LIVE IN BANANA REPUBLIC EVEN IF ALL THE BEST ECONOMIC ADVISE IN THE WORLD IS GIVEN TO YOU IT WILL NOT WORK UNLESS YOUR CORRUPT GOV'T STOP STEALING FROM THE COFFERS

KWASIATO
Ray 1 month ago

Bold Solutions for the Future.

Bold Solutions for the Future.
Quophi 1 month ago

so now he has changed his name from Coby Mensah to Lord Mensah, Item 13 professor.

so now he has changed his name from Coby Mensah to Lord Mensah, Item 13 professor.
CITIZEN 1 month ago

Prof. Cobby/Lord Mensah worked and earned the title.
You, the "political animals," lost your brains for whatever pennies you were given.

Prof. Cobby/Lord Mensah worked and earned the title.
You, the "political animals," lost your brains for whatever pennies you were given.
KA NA WU. 1 month ago

So, what do you think is the panacea, professor?
Debates about foreign currencies are tricky. The foreign exchange determines the value of one currency in terms of the other.
How many cedis you get for one US dollar, as an ...
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So, what do you think is the panacea, professor?
Debates about foreign currencies are tricky. The foreign exchange determines the value of one currency in terms of the other.
How many cedis you get for one US dollar, as an example.
The more cedis you give in exchange for one US dollar, the less valuable it becomes, and vice versa.
This determines the prices of imports and exports of goods and services between Ghana and the United States of America.
The same analysis will hold for the cedi and other currencies.
When the cedi is losing value to the USD(more cedis for one dollar), it means our exports to the USA become cheap. The importers in the USA are happy, because they can buy more from Ghana and maximize their profits.
On the other hand, the exporters of goods and services to the USA are equally happy because they can also maximize their revenues and profits through increased volume of their products or produce, as the case may be.
Obviously, the consumers of these imports from the USA will complain, because they have to part with more cedis for one dollar than previously.
Then, there are the owners of assets denominated in cedis who will have under-valuation as a consequence. They will also point fingers at the government in power, most likely.
Solutions:
!. Bank of Ghana should ease the excess demand by pumping USD into the economy(dollar/cedi), if the Bank has adequate USD in reserve (it has been doing that with the little USD at its disposal).
2. An all-out effort to export more goods and services to net in more USD (not euro bond issues and IMF short-term relief).
3. A cautious (to avoid trade retaliation) and critical examination of our USA import bill aimed at elimination the non-essentials.
4. The consumer of these imports can switch taste and fashion to locally manufactured goods (especially those with locally sourced raw materials).
One cogent reason for buying local is product liability.
One can easily trace the manufacturer of home-made goods and services, unlike foreign made ones.
What makes fighting foreign exchange problems difficult is that the exchange rate of a country's currency correlates with the underlying economy. Meaning, the stronger the economy, the stronger the currency and vice versa.
A strong economy attracts more foreign investments to boost your foreign currency supply, just as a weak economy discourages foreign investments and depletes a country's foreign currency reserves from investments.
Also, any strengthening of the USD, for instance, will be transmitted to Ghana through imports of good and services from the USA.
Dr. Busia, of blessed memory, had to devalue the cedi in order to boost export revenues.
All said and done, there is no rejoicing over either a strong currency or a weak one.
The best option is to steer a middle course, neither strong nor weak.
That is the responsibility of the Bank of Ghana.
Opoku 1 month ago

Is really deep

Is really deep
Kofi Bomfah 3 weeks ago

Where is the economic messiah? Talk is cheap and they have no shame. Do some of our leaders have conscience? God have mercy.

Where is the economic messiah? Talk is cheap and they have no shame. Do some of our leaders have conscience? God have mercy.
Kofi 3 weeks ago

You should be asking Vice President bawumia,where are the Men,or was he talking about the criminals and thieves. Ghanaians are doomed, nothing is working at all.

You should be asking Vice President bawumia,where are the Men,or was he talking about the criminals and thieves. Ghanaians are doomed, nothing is working at all.

'The mess is deep' – UG Professor laments bad state of the economy

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