IMF bailout: Ghana scores high marks on 3rd review

Read Article

Comments (40)

This article is closed for comments.

Read Comments Comments (40)

Mufti 8 years ago

So u are happy with this hardship u have put us in. In any case what were the scores in the first and second reviews? Failed administration

So u are happy with this hardship u have put us in. In any case what were the scores in the first and second reviews? Failed administration
SAY IT LOUD ! 8 years ago

VISIONLESS AND IDIOTIC "LEADERS" LEADING THEIR PEOPLE TO DOOM.
DON'T THESE CURSE-TO-US GUYS HAVE AN IOTA OF SENSE IN 50YEARS TO KNOW WHO THEIR ENEMY AND DESTROYERS ARE?.

VISIONLESS AND IDIOTIC "LEADERS" LEADING THEIR PEOPLE TO DOOM.
DON'T THESE CURSE-TO-US GUYS HAVE AN IOTA OF SENSE IN 50YEARS TO KNOW WHO THEIR ENEMY AND DESTROYERS ARE?.
Issah 8 years ago

we the citizens a more hungry than before whiles satanic imf smile to their banks! we shall vote mahama and ndc out! ndc and mahama and ndc looting our monies for themselves nd the westners!

we the citizens a more hungry than before whiles satanic imf smile to their banks! we shall vote mahama and ndc out! ndc and mahama and ndc looting our monies for themselves nd the westners!
Observer 8 years ago

Was that the last time someone shook hands with Mr Terkper? The photo is ancient!

Was that the last time someone shook hands with Mr Terkper? The photo is ancient!
Apraku 8 years ago

They always try to cover up when Bawumia thwarts their activities, but we know you now with your dirty propaganda. This photo has been posted here before. NDC is a dangerous party for Ghana, they are bleeding Ghana to its bon ...
read full comment

They always try to cover up when Bawumia thwarts their activities, but we know you now with your dirty propaganda. This photo has been posted here before. NDC is a dangerous party for Ghana, they are bleeding Ghana to its bone.But trust me the wind will blow and give the change to people who can wheel Ghana.
HAJIA KK 8 years ago

Over 400,000 workers such as masons,carpenters,welders,steel benders,electricians,plumbers,decorators,engineers,painters and many more are currently employed at various sites where direct gov't investments are resulting in th ...
read full comment

Over 400,000 workers such as masons,carpenters,welders,steel benders,electricians,plumbers,decorators,engineers,painters and many more are currently employed at various sites where direct gov't investments are resulting in the execution of projects such as hospitals,roads,schools,housing unit,markets,stadium,etc.
ACCOUNTABILITY 8 years ago

You borrow money from some one, and you earned high marks, right? O! black man mentality.

As usual, the politicians will not make good use of this 'boseaa'. Some greater portion will end up in their private accounts. We sh ...
read full comment

You borrow money from some one, and you earned high marks, right? O! black man mentality.

As usual, the politicians will not make good use of this 'boseaa'. Some greater portion will end up in their private accounts. We should be ashamed of always borrowing, borrowing!orrowing!! and we don't see anything good that comes out of it. We leave burden of debts to the posterity. Black man has no plans for posterity at all.

We will always be looked down upon by these white nations that give us 'boseaa'.
Shame NDC government!! Shame Tepker !!! for taking $250 million from the 'boseaa' money. You are proud of borrowing all the time. Shame ! shame! shame!!!
Dankwa 8 years ago

Every thing Ghanaians will complained even America , Britain and top top countries borrow money to develop their country.

Every thing Ghanaians will complained even America , Britain and top top countries borrow money to develop their country.
Papa 8 years ago

Yeah you said development where is the development in Ghana let's not close our eyes to the truth

Yeah you said development where is the development in Ghana let's not close our eyes to the truth
The African Patriot 8 years ago

Sorry, but first of all it is the government who chop our money chafo chafo and mismanage the economy in a way that it has to run to the IMF to seek for competencies. The nation is getting poorer whiles the richer is getting ...
read full comment

Sorry, but first of all it is the government who chop our money chafo chafo and mismanage the economy in a way that it has to run to the IMF to seek for competencies. The nation is getting poorer whiles the richer is getting more richer. A so called Social Democratic Party without any sign of social infrastructure building. NDC today with John Mahama practise capital communism. The poor men does not count as it continue with it create, loot and share as well high rate of corruption and nepotism among them selves.

IMF can only justify its course when at the same time unemployment situation is getting worst.
HAJIA KK 8 years ago

President Mahama reducing unemployment :National Vocational Training Institute (NVTI), Integrated Community Centers for Employable Skills (ICCES) and Opportunities Industrialization Centers(OIC) - 21,802 • Graduate Business ...
read full comment

President Mahama reducing unemployment :National Vocational Training Institute (NVTI), Integrated Community Centers for Employable Skills (ICCES) and Opportunities Industrialization Centers(OIC) - 21,802 • Graduate Business Support Scheme run by the Ministry of Employment - 2,000
Youth Employment - YEA to provide 12,000 jobs a month for remainder of 2016:
Doe 8 years ago

The idea that America borrows is a result of not understanding how the world financial systems work.

To make a long story short, did you hear, about 3 days ago, when Donald J. Trump, the new Republican presumptive preside ...
read full comment

The idea that America borrows is a result of not understanding how the world financial systems work.

To make a long story short, did you hear, about 3 days ago, when Donald J. Trump, the new Republican presumptive presidential nominee, stated that America can always print more money if needs be?

If you don't know, the American dollar is the reserved currency in the world. Simply put, it means that any where in the world the American dollar is the acceptable means of financial transactions thus no country in the world can do without it. The US dollar is printed by the US treasury department. The US treasury department prints other notes called Treasury Bills which are also called bonds and issue them to individuals and countries. If you buy a US Treasury Bill or a bond it has maturity date which the US treasury will pay you your money plus an interest on that money. It is like the US has borrowed money from you and paying you an interest when you redeem the loan.

But ask yourself a simple question. If the US treasury can print money any time it wants why would it be issuing those treasury bills and bonds to make it appear as if it is borrow money? Well it issues those treasury bills and bonds and pay interest on them in other to make the dollar the indispensable currency in the world.

Britain was the super power in the early 20th Century and the British pound backed by GOLD was the reserved currency at that time but after American's prowess in the second world war, its dominance in manufacturing and technology and the stability of its government, the dollar became the reserved currency. Then sometime in the 70's the US decided not to back the dollar with the gold. So today the dollar's power is based on the good credit, the technological advancement, and the stability of the American government. You must remember that during the recent financial crises the Obama administration pumped $750 billion (known as the stimulus package) into the US economy. The US prints the dollar so it can afford to do that, it didn't borrow it from any body or country.

Countries like China,Japan,Saudi Arabia and many others buy the US bonds as investments. The US did't go to them to borrow money. The bonds are known as Fixed income securities which are traded on the New York and many other stock exchanges. You can buy some right now if want but be warned the yield (i.e the interest you get back when you sell your bond is really low like 2.5% unlike Ghana that is paying 10.5% on its bond issues)

As you can see, except the US, countries that are run very well are not issuing (borrowing) bonds, rather they are buying bonds from stable countries like the United States as an investment.

Apart from the United states as stated above, countries like Ghana that are constantly issuing junk bonds (bond with high interest rates) are digging their own graves. Ghana is constantly paying those loans with proceeds from the Gold,Timber,cocoa, oil, and the other resources it exports. The country therefore doesn't have resources like planning for research laboratories for new graduates or decreasing interest rates to facilitate borrowing by the natives to drive businesses. Thus majority of Ghanaians are unemployed, underemployed and poor. If you don't live according to your means you will suffer.
Jones 8 years ago

Debt is tricky, it is dangerous, you have to know what you are doing. The United States will never default on debt because it prints the money - Donald Trump

Debt is tricky, it is dangerous, you have to know what you are doing. The United States will never default on debt because it prints the money - Donald Trump
Nii Okai 8 years ago

Even if you allow prejudice of your tribal and strong political bigotry to drive you, you have to remember that it was the same team of the IMF and the world bank that considered Ghana in Kufour era and offered us the HIPC st ...
read full comment

Even if you allow prejudice of your tribal and strong political bigotry to drive you, you have to remember that it was the same team of the IMF and the world bank that considered Ghana in Kufour era and offered us the HIPC status and were given monies for projects as well and helped us with economic adjustment policies.

Why are you foolish and nervous to critize anything when it is not done by your tribes men nor your political parties? This village mentality will never help Ghana to meet its plans when this villageous mindset continue to influence your understanding about our nation economic plans.

Why are you so angry and frustrated with hyper prejudice over everything being done by the elected govt. Why can not you even accuse Kufour of the introduction of the SSSS SINGLE SPINE SALARY STRUCTURE salary increament when leaving office with deficit, knowing that there was no money in the national coffers. Did he do that to punish Akuffo Addo or Atta Mills so that either of them who wins could not rule with sound economic policies? What he created is what you see today.

Some of them who talk with prejudice ask if we do not know who our enemies are? In the first place: Do you question Kufour's character towards even his own party member Nana Addo? Now, the enemy we see in our mind may not come to influence us and succeed when we are united, but do not you see how we are divided purely because of mere politics and tribal hatred.

We need to look at this area first and check ourselves making sure we are a united people with the same destiny. Also in the areas of education; giving priority to technical education with many technical varsities than the others that you see more in Ghana; producing lawyers, accountants, economies etc which never help to build and develop like the Chines, Indians, Singaporeans, Malaysians etc did who depended on the technical areas and thus had achieved better economy.

Today in Ghana Mahama had seen the light in this direction and converted the polytechnics to technical varsities a step in the right direction which when handled well will lead us to our destiny.

Frustration will always cause us to accuse one another with blame game politics, calling leaders visionless and idiots when we are also full of such deficiences in our daily lives within our own family circles, tribes, churches, mosques, working centres, institutions etc

It is easily said than done. In reality there is a need for a total change of character by all people in Ghana since we have not even understood what politics mean. l am aware that politics is basically morality which calls for united approach in the building of a nation but we see the opposite of this among us hence the confusion of where to start from continues unabatedly. In simple words no love for one another so we are in trouble.
Doe 8 years ago

I don't belong to any political party but Mahama has failed Ghana. A new leadership is needed.

With the resources Ghana has, Gold,Oil,Cocoa,Timber why can't Ghana move slowly like China did and develop its human capabilit ...
read full comment

I don't belong to any political party but Mahama has failed Ghana. A new leadership is needed.

With the resources Ghana has, Gold,Oil,Cocoa,Timber why can't Ghana move slowly like China did and develop its human capabilities instead of the borrowing.

China doesn't issue bonds- it doesn't borrow, it buys bonds from the US. Read my article above.

Let me tell you, I am an engineer myself and in underdeveloped country like Ghana what you need are more research laboratories where new engineering graduates go for internships and after degree programs for experiences. New engineering graduates only have theory. If there are no companies or research laboratories to give them experiences their education become useless overtime.
HAJIA KK 8 years ago

PRESIDENT MAHAMA EFFORTS TO ERADICATE CORRUPTION IN GHANA HAS BEEN ACKNOWLEDGED BY THE WORLD,IN CALL OF THAT HE WAS PART OF THE AFRICA LEADERS INVITE BY THE UK'S GOV'T ANTI CORRUPTION FIGHT TO DISCUSS AND SHARE IDEAS.

PRESIDENT MAHAMA EFFORTS TO ERADICATE CORRUPTION IN GHANA HAS BEEN ACKNOWLEDGED BY THE WORLD,IN CALL OF THAT HE WAS PART OF THE AFRICA LEADERS INVITE BY THE UK'S GOV'T ANTI CORRUPTION FIGHT TO DISCUSS AND SHARE IDEAS.
Truthful 8 years ago

Poor you. Read wide wai. Who told you they failed. All 3 reviews were excellent. Stop displaying ignorance.

Poor you. Read wide wai. Who told you they failed. All 3 reviews were excellent. Stop displaying ignorance.
DAVIDT 8 years ago

when the environmental factors, what alternate policies do you have. Hardship yes but Mahama did not say its because you are lazy. Have you been listening to him or you are too busy insulting because he is not your tribesma ...
read full comment

when the environmental factors, what alternate policies do you have. Hardship yes but Mahama did not say its because you are lazy. Have you been listening to him or you are too busy insulting because he is not your tribesman? shame
WAR AGAINST NPP BULLYING 8 years ago

WHETHER NDC IS PERFORMING OR NOT, WHETHER MAHAMA IS INCOMPETENT OR NOT, YOU EVIL NPP MOTHERFUCKERS WILL NEVER COME TO POWER IN GHANA...ALWAYS TALKING SOME STALE SHIT ON EVERY FORUM..WITH YOUR OULL HIM DOWN ATTITUDE. FUCK ALLL ...
read full comment

WHETHER NDC IS PERFORMING OR NOT, WHETHER MAHAMA IS INCOMPETENT OR NOT, YOU EVIL NPP MOTHERFUCKERS WILL NEVER COME TO POWER IN GHANA...ALWAYS TALKING SOME STALE SHIT ON EVERY FORUM..WITH YOUR OULL HIM DOWN ATTITUDE. FUCK ALLLLL OF YOU!!!! NOW AFTER YOU REPLY WITH YOUR JEALOUS, LAME ASS, CUT AND PASTE USELESS DRIVEL, YOU CAN KISS MY ASS AFTER DIARRHEA!!!!
Hash 8 years ago

May anger and hatred sink and diminish you all the days of your life forever and ever. Amen

May anger and hatred sink and diminish you all the days of your life forever and ever. Amen
SAY IT LOUD ! 8 years ago

WHO SET THE EXAMS, FOR WHOSE INTEREST, WHO MARKSTHE SCRIPT AND WHO GIVES THE MARKS?.
WERE YOU CONSULTED?.
IDIOTS!

WHO SET THE EXAMS, FOR WHOSE INTEREST, WHO MARKSTHE SCRIPT AND WHO GIVES THE MARKS?.
WERE YOU CONSULTED?.
IDIOTS!
kokotii 8 years ago

I want to hear what Bawumia would say about this!!!!!!

I want to hear what Bawumia would say about this!!!!!!
Papa 8 years ago

Wait so u are actually happy about this?,u wanna know what bawumia will say about this?,Ghana paa nie?

Wait so u are actually happy about this?,u wanna know what bawumia will say about this?,Ghana paa nie?
HAJIA KK 8 years ago

AS PART OF PRESIDENT MAHAMA'S EFFORT TO REVIVE AGRICULTURE SECTOR OVER 1000 TRACTORS,HARVESTERS AND OTHER FARMING EQUIPMENT HAVE BEEN DISTRIBUTED TO FARMERS ACROSS THE COUNTRY,AT THESE MAKES ME AND MY GRANDPA WHO IS FARMER HA ...
read full comment

AS PART OF PRESIDENT MAHAMA'S EFFORT TO REVIVE AGRICULTURE SECTOR OVER 1000 TRACTORS,HARVESTERS AND OTHER FARMING EQUIPMENT HAVE BEEN DISTRIBUTED TO FARMERS ACROSS THE COUNTRY,AT THESE MAKES ME AND MY GRANDPA WHO IS FARMER HAPPY.
OBURONIBA FITAFITA 8 years ago

The slave master congratulates the slave for keeping the chains tight as instructed without attempting to emancipate himself. Meanwhile he is coming back for a second phase - this time with tighter chains.READ SIR LUGARD'S AS ...
read full comment

The slave master congratulates the slave for keeping the chains tight as instructed without attempting to emancipate himself. Meanwhile he is coming back for a second phase - this time with tighter chains.READ SIR LUGARD'S ASSESSMENT OF THE BLACK MAN
Kwesi Amonsie 8 years ago

I second your motion. Exactly what is happening behind close doors that you have revealed. Thank You my brethren.

I second your motion. Exactly what is happening behind close doors that you have revealed. Thank You my brethren.
NII 8 years ago

Failures in government

Failures in government
kofikofi 8 years ago

It is all diversionary story to douse the tepker $250m fraudulent deals. Shame mahama and gang of thieves.

It is all diversionary story to douse the tepker $250m fraudulent deals. Shame mahama and gang of thieves.
aikins 8 years ago

Ghana under Mahanadi is fetching water with basket,they will borrow them Mahama with family and friends will embezzle to Dubai,even the bush wife Lorhdina.

Ghana under Mahanadi is fetching water with basket,they will borrow them Mahama with family and friends will embezzle to Dubai,even the bush wife Lorhdina.
HAJIA KK 8 years ago

Youth Employment - YEA to provide 12,000 jobs a month for remainder of 2016:

Youth Employment - YEA to provide 12,000 jobs a month for remainder of 2016:
GHANA FIRST 8 years ago

Nana Addo can rule Ghana as president for 8 years only when there is no elections in Ghana for 8 years. We see transformation and development in Ghana under the current government so we shall vote for them to continue for ano ...
read full comment

Nana Addo can rule Ghana as president for 8 years only when there is no elections in Ghana for 8 years. We see transformation and development in Ghana under the current government so we shall vote for them to continue for another term and possibly vote for them again if they continue to perform at this level. Piling insults on the government and packing family members in London to shamefully and disgracefully insult President Mahama in London will never ever give you NPP and Akufo Addo any more votes. You help him to lose floating voters to NDC, CPP, APC and PNC and NVP. Poor dump NPP followers.
Goliath 8 years ago

Broadly satisfactory becomes scores high marks?

Broadly satisfactory becomes scores high marks?
David 8 years ago

After the catastrophe that is the Ghana education service you're not expected to be capable of reading this stuff, let alone reading with attention to the hyperbolic drivel.

After the catastrophe that is the Ghana education service you're not expected to be capable of reading this stuff, let alone reading with attention to the hyperbolic drivel.
FRED MENSAH 8 years ago

Call or Whatsap me 0249620218
-Am Fred Mensah,I deal with lotto numbers, which comes from trusted source

Call or Whatsap me 0249620218
-Am Fred Mensah,I deal with lotto numbers, which comes from trusted source
simson 8 years ago

You got to go through hell to get to heaven.. It shall be well.

You got to go through hell to get to heaven.. It shall be well.
Suley 8 years ago

am so sad to read this. so Mahama is happy he has followed IMF to increase electricity & water tariffs, refused to pay teachers and nurses, refused to employ workers into the public sector .
I mean how can Mahama jubilate of ...
read full comment

am so sad to read this. so Mahama is happy he has followed IMF to increase electricity & water tariffs, refused to pay teachers and nurses, refused to employ workers into the public sector .
I mean how can Mahama jubilate of making the economy so unbearable for Ghanaians. Interest rate is @ 36% & is de 2nd highest in de world. every gallon of patrol has ghc7 on it as tax.
Mr Bond 8 years ago

Thus the high marks zinclude the highest corruption president John Alibaba Dramani Mahama and his gang of thiefs perpetuating against Ghanaians.Mahama government divert $250 million and accountant stealing GHC 202000 and Haru ...
read full comment

Thus the high marks zinclude the highest corruption president John Alibaba Dramani Mahama and his gang of thiefs perpetuating against Ghanaians.Mahama government divert $250 million and accountant stealing GHC 202000 and Haruna Iddrisu stealing money meant for YEA.Is it part of the high marks?
NPP KWASEAFUO PARTY. NPP JIMIFUO KUO 8 years ago

If this story had turned out to be negative, the fucking Bawumia balawu Buluuu and his NPP dumbasses would have been all over the story and having the bias media houses to spread it. The hate good news. The only spread bad ne ...
read full comment

If this story had turned out to be negative, the fucking Bawumia balawu Buluuu and his NPP dumbasses would have been all over the story and having the bias media houses to spread it. The hate good news. The only spread bad news.
mimosa 8 years ago

you don't know what you are getting our beautiful country into with this IMF arrangement. IMF is EVIL, and no friend of developing countries. I don't know why this idiotic mahama keeps borrowing from this monster of a shylo ...
read full comment

you don't know what you are getting our beautiful country into with this IMF arrangement. IMF is EVIL, and no friend of developing countries. I don't know why this idiotic mahama keeps borrowing from this monster of a shylock, not to benefit Ghana, but to fill their own pockets. And we will be paying it with a pound of our most precious flesh. Get rid of these thieves and probe them really hard.
mimosa 8 years ago

I've always been suspicious of this mahama when he claims Ghana to benefit from his fiscal policies. For him to go to IMF is beyond insane. This is the modern-day Shylock, and Ghanaians will be paying with every pound of our ...
read full comment

I've always been suspicious of this mahama when he claims Ghana to benefit from his fiscal policies. For him to go to IMF is beyond insane. This is the modern-day Shylock, and Ghanaians will be paying with every pound of our flesh and mahama would give a rat's ass, because he will have stollen all our wealth. Pat him down, retrieve all our stolen monies, and send him back to Bole

IMF bailout: Ghana scores high marks on 3rd review

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 (40)

Read Comments Comments (40)