Where has this economist been all these years ? Why wait after seven years before coming out with these ineffective pronouncements? A typical Black economist indeed.It seems Ghanaian economists really don't have have any solu ... read full comment
Where has this economist been all these years ? Why wait after seven years before coming out with these ineffective pronouncements? A typical Black economist indeed.It seems Ghanaian economists really don't have have any solution to our economic woes.Is ECONOMICS worth studying?
moyo 9 years ago
Former President Kufour and his brigade are the problems govt is trying to solve. They intentionally created the problem with the intend of making any govt who come after very unpopular. The redomination of the cedi was quest ... read full comment
Former President Kufour and his brigade are the problems govt is trying to solve. They intentionally created the problem with the intend of making any govt who come after very unpopular. The redomination of the cedi was questionable and the killing of the Bank of Ghana staff as a result of suspicious activities.
DAN 9 years ago
HOMOSEXUALS ARE 99% OF ndc VOTERS THE OTHERS ARE LESBIAN THIEVES! NIGGER BOY YOU PROVE THAT GOD GAVE THE BLACKMAN A SMALL MONKEY BRAIN AND SKIN THE COLOR OF FECES TO BE THE PERFECT SLAVE FOR THE WHITE AND CHINA MEN!!
HOMOSEXUALS ARE 99% OF ndc VOTERS THE OTHERS ARE LESBIAN THIEVES! NIGGER BOY YOU PROVE THAT GOD GAVE THE BLACKMAN A SMALL MONKEY BRAIN AND SKIN THE COLOR OF FECES TO BE THE PERFECT SLAVE FOR THE WHITE AND CHINA MEN!!
BRO JOE 9 years ago
FROM MY SAS7(middle school form 4) education, one of the most economic attraction for investment in a country was the stability of the currency. In fact during Prez. Kuffour's time the cedi was very stable. The decimation of ... read full comment
FROM MY SAS7(middle school form 4) education, one of the most economic attraction for investment in a country was the stability of the currency. In fact during Prez. Kuffour's time the cedi was very stable. The decimation of the cedi encouraged tourism as fewer monies was carried around. The economic policies of Mahama is wrong. What can the nation get from sanitary pad. If you are truly a well qualified economist in the government, then offer the government very good advice that can create growth.
GHFUO: nyantakyi, 1/9aa must go.ASAP! 9 years ago
The redinomination is not the problem. The macroeconomic conditions to propel the strength of the cedi are not.sound. No factories, high imports, public sector corruption, high govt loans, govt inability to pay down deficit, ... read full comment
The redinomination is not the problem. The macroeconomic conditions to propel the strength of the cedi are not.sound. No factories, high imports, public sector corruption, high govt loans, govt inability to pay down deficit, no jobs, narrow tax net, no infrastructure development/refurbish
capt ninepence 9 years ago
Americans have 'IN GOD WE TRUST' on their money and Ghana used to have the symbol 'GYE NYAME' on our currency but k4 and his NPP deleted it from the cedi all because it was jj Rawlings who embossed that symbol on our money. i ... read full comment
Americans have 'IN GOD WE TRUST' on their money and Ghana used to have the symbol 'GYE NYAME' on our currency but k4 and his NPP deleted it from the cedi all because it was jj Rawlings who embossed that symbol on our money. if almighty Americans know how GOD matters on their economy hence embossing the inscription 'IN GOD WE TRUST 'on their currency, why should k4 and his brigade deliberately erase the 'GYE NYAME' from our money? if they did not like the fact that it was jj Rawlings who embossed that symbol what prevented them from using any other symbol to represent GOD on our money? no doubt our cedi is falling like a cursed money every second of the day? Ghana is doomed until it is saved by divine intervention. I miss the late dr Kwame Nkrumah in deed!
Addai, 9 years ago
I think the Economist did not go to a proper economist school because, he schould have first check to other countries like Turkey,before, they were having more than six zero's ending their money but when those zero's were r ... read full comment
I think the Economist did not go to a proper economist school because, he schould have first check to other countries like Turkey,before, they were having more than six zero's ending their money but when those zero's were removed today the eonomic is moving on pefect.So what do you want to tell us now?
NANA APPIAH 9 years ago
It seems to me this economist attended night school or University of J D MAHAMA.If not what about Brazil who redenominated their currency?The real cause of the problem is the woyomisation,isofotonisation gyeedasition and so o ... read full comment
It seems to me this economist attended night school or University of J D MAHAMA.If not what about Brazil who redenominated their currency?The real cause of the problem is the woyomisation,isofotonisation gyeedasition and so on and so forth of the economy.NDC bastards.
SARPONG 9 years ago
Ringo, you beat me to it. The redenomination is responsible for our recent 15 percent inflationary hike? The redenomination was in 2007 and in 2009 when Npp was handing over power to Ndc, the inflation was 18 percent haven in ... read full comment
Ringo, you beat me to it. The redenomination is responsible for our recent 15 percent inflationary hike? The redenomination was in 2007 and in 2009 when Npp was handing over power to Ndc, the inflation was 18 percent haven inherited a 42 percent inflationary figure from Rawlings Ndc in 2001.
Can this Ndc Economist explain to us why from 2010 to the end of 2013 the inflation was 9 percent? For more than five years since the redenomination, the inflation had been going down and Ndc used the single digit inflation as an achievement until their bad policies caught up to them and the inflation is going up again so now it is Npp who caused this problem? Did the Ndc give credit to Npp when inflation was 8 percent?
I am waiting to see how the Ndc people are going to propagandise this.
GaBaa 9 years ago
What a thing to say. These are the people with DR and they have no class mates or dissertation from any brick and mortar school.
What a thing to say. These are the people with DR and they have no class mates or dissertation from any brick and mortar school.
Mustoo 9 years ago
The same university where Bawumia got his. When Bawumia gave that jaundice partisan political lecture about the economyand consciouslyignore the major problem of redenomination which is basic for a level 100 economic student ... read full comment
The same university where Bawumia got his. When Bawumia gave that jaundice partisan political lecture about the economyand consciouslyignore the major problem of redenomination which is basic for a level 100 economic student you were showering an undeserved praises on him because it suitsyou politically. To GaBaa I don't know if you have any background in economics,if you don't I pity you but if you do am sorry but you need to get back to the class room. I presumeyou don't have economic background so you can please Google for the effects of currency redenomination so u could updateyourself, it'swritten in plain language there.
Concern 9 years ago
The truth be told, what this guy is saying is so right and there is even more to that.
This crave of foreign exchange picked up momentum under Rawlings. After he run the country bankrupt with his flirtation with communist ... read full comment
The truth be told, what this guy is saying is so right and there is even more to that.
This crave of foreign exchange picked up momentum under Rawlings. After he run the country bankrupt with his flirtation with communist policies, he turned to IMF for help. IMF insisted he had elections and the reward was they adviced him to set US$1.00 to 1000 cedis.
It worked expanding the economy and without either short or long term negative effects because it was supported by remittances from those in the diaspora. And that"s it on Rawlings and our economy.
On the other hand, Kuffour and his cronies took over at an opportune time, a period of infinite flow of donor monies. Outside Kuffour and his cronies stealing more than 50% of those donor funds for their personal use, they simply had no genuine ideas for the future. Their policies were those like a kid in a toy store. Policies that weren't sustainable. In his second term, the donations had peaked and on the decline and so this trickery of a second currency to give the alur all was fine. Come to think of it, is there another country on earth besides Ghana that has two monies? Because of K4 and his cronies policies, now,we don't value or respect our own cedi. It is gotten so bad that even when you go to any of our Kojokrom villages, where they people still believe the world is flat, the want to transact business in dollars and not cedis. How can you undermine such people with a new and old cedi nonsense.
Yes, there is a whole lot of truth to what this man is saying. However, that does not excuse Mahama from doing an efficient job. History will judge him in the future as we're currently evaluation "Murderous Rawlings"( i'll touch on this another day; he set off the wheels of tribal conflicts in present day Ghana), and 'Wa Wa" Kuffour- he was a timid head of a bunch of extremely corrupt group and the nerve of him to ask for 10 houses,10 cars,limitless vacations, and so on at the end of his reign. over a bunch of extreme .
Kojo T 9 years ago
He said arresting the cedi decline on a durable basis requires fundamentally transforming the economy by diversifying and adding value to exports, promoting domestic industrialisation in order to reduce import demand, and ent ... read full comment
He said arresting the cedi decline on a durable basis requires fundamentally transforming the economy by diversifying and adding value to exports, promoting domestic industrialisation in order to reduce import demand, and entrenching fiscal discipline.
He said there is the need for government to reduce borrowing in order to reduce interest costs; and to implement a debt-restructuring strategy to reduce immediate debt-servicing pressures on the budget. The Senior Economist said government must phase out universal subsidies and strengthen social intervention programmes targeted to the poor. The best said so far. But we can go further by postponing the social interventions and use the money for capital investment
Kwadjo, London 9 years ago
This so call economist is not good.
This so call economist is not good.
Abele 9 years ago
stop the crap and call a spade a spade.when Atta was in power how was the cedi to the dollar?It is the bad economic policies that has caused all these problems not the re-denomination.Any crap can call himself economist.give ... read full comment
stop the crap and call a spade a spade.when Atta was in power how was the cedi to the dollar?It is the bad economic policies that has caused all these problems not the re-denomination.Any crap can call himself economist.give us a break.
Mensah 9 years ago
his stupidity is so clear
his stupidity is so clear
Obenfo 9 years ago
Hey Mensah, don't confuse yourself, I think it's his sunglasses that he has hang on to of his head:)
Hey Mensah, don't confuse yourself, I think it's his sunglasses that he has hang on to of his head:)
Andrew 9 years ago
Whatever it is, is seems like he is being fucked in the ass or has "piles". You can see the lies written all his face. He has been paid to say this so he doesn't feel comfortable.
Whatever it is, is seems like he is being fucked in the ass or has "piles". You can see the lies written all his face. He has been paid to say this so he doesn't feel comfortable.
bga not! 9 years ago
No buddy, it s his hair cut, this dude is over 60 years and putz around like those clueless football pros. He actually wears "guarantees" shoes! But I digress....yes the redenomination may have caused some bit of price inflat ... read full comment
No buddy, it s his hair cut, this dude is over 60 years and putz around like those clueless football pros. He actually wears "guarantees" shoes! But I digress....yes the redenomination may have caused some bit of price inflation, but to put the current difficulties to that is far-fetched and smacks of disingenuity. People are just afraid to speak the truth, no way the 2007 event is the cause of the current challenges, crisis. This is self-inflicted and led by a shallow leadership who it seems believe things - overspending, will eventually work themselves out while they continue to dip both hands and both feet, every appendage into the national kitty, like there's tomorrow. And the poor country continues to hemorrhage. That's why there's suffering in the land, there's increased inflation. Mr Economist, stop this WW analysis
Kintampo 9 years ago
I would understand the redenomination/inflation argument to the extent of its effect in 2007, 2008, 2009 and perhaps 2010. Beyond that the indicators should have stabilised well enough. Fiscal indiscipline to a large extent ... read full comment
I would understand the redenomination/inflation argument to the extent of its effect in 2007, 2008, 2009 and perhaps 2010. Beyond that the indicators should have stabilised well enough. Fiscal indiscipline to a large extent is a major contributor to the current inflation surge. Of course we cannot run away from the fuel and utility price hikes which have a spiralling effect on all other prices. Dr Kwakye, as for this one....
cha 9 years ago
Any economist we will tell u when ur country import more and produce less- your currency is affect- uncluding the massive stealing from the NDC govt- Ghana now 60 billions in debt
Any economist we will tell u when ur country import more and produce less- your currency is affect- uncluding the massive stealing from the NDC govt- Ghana now 60 billions in debt
Blay 9 years ago
Rawlings said this, bingo!!!!.Unscrupulous NPP followers only called JJ names & will equally call this economist names!.
Rawlings said this, bingo!!!!.Unscrupulous NPP followers only called JJ names & will equally call this economist names!.
SARPONG 9 years ago
You really have to be an idiot to buy this foolishness. Since 2009, the inflation has been going down from 18 percent to 8 percent in December 2013 which Ndc took credit for and now that their 20 billion dollars deficit they ... read full comment
You really have to be an idiot to buy this foolishness. Since 2009, the inflation has been going down from 18 percent to 8 percent in December 2013 which Ndc took credit for and now that their 20 billion dollars deficit they have piled up had caught up to them and the inflation has been going up since.
Prosper Dumegah Jnr 9 years ago
Why wouldn't a bigger illiterate like Sarpong, understand that knocking out 4 zeros without boosting a corresponding productive capacity of the economy and allowing a frivolous and an empty pink sheet court case of 8 months h ... read full comment
Why wouldn't a bigger illiterate like Sarpong, understand that knocking out 4 zeros without boosting a corresponding productive capacity of the economy and allowing a frivolous and an empty pink sheet court case of 8 months hinged on "you and I were not there" and schizophrenic thinking of allowing someone who was flatly beaten squarely at the national pools to become an executive president of no mean country like Ghana and the fear of the troubles that might follow that when the wrong decisions were made might induce trouble. What happened??
The prospective investors didn't come and coupled with the giant projects the NDC committed itself to achieve couples with the excessive importation of foreign commodities cannot be mean factors that might all bring about the spiralling inflation!!! How can right thinking people especially Ghanaians not remember how the prices of items jumped over the years after the 4 zeros were knocked off!! So should the effects of such a diabolical re-denomination just happen at a point and stop around 2009 only?? Why can't the negative effects coupled with the excessive government expenditure and the delusion of the country of 25 million sharing only 13% of the oil shares and allowing 3 Ghanaians 5% shares of the oil industry??
Ghana is in this place because Kuffour under his NPP regime brought all this nonsensical approach to short cuts economic and Ghana Telecom sale out arrangements!!
Ghana will know the whole truth one day!!!!!!!!!
SARPONG 9 years ago
You are an illiterate idiot. Tell me how a redenomination in 2007 cause inflation in 2014, a good seven years later. When redenomination was implemented in 2007, inflation was 17 percent and now inflation is 15 percent so you ... read full comment
You are an illiterate idiot. Tell me how a redenomination in 2007 cause inflation in 2014, a good seven years later. When redenomination was implemented in 2007, inflation was 17 percent and now inflation is 15 percent so you smelly trokosi incestuous daughter fucker maybe can explain to me how redenomination caused inflation of today.
We did not hear of these yahoo economists complaining of it causing inflation when Ndc from early 2011 started trumpeting their single digit inflation.
This inflation is because of the large interest payments we are making on the 20 billion budget deficits caused by Mills/Mahama governments borrowing for consumables like sanitary pads.
You dumb illiterate, redenomination does not increase the value of a currency. In our redenomination for instance, the value of the cedi not increased and was principally done for portability advantage. Whilst we were getting one dollar for nine thousand old cedis, nine thousand cedis of the old currency was exchanged for one new cedi, the same value the dollar exchange rate for the new cedi was pegged so maybe you "brainy" illiterate can explain how redenomination caused our inflation seven years later when inflation in actuality has gone done from 17 percent in 2007 to15 percent in 2014.
Stop your trokosi herd mentality and reason with your brains instead of being an emotionally wreck with your dumbass trokosisiege mmentality.
eyemere 9 years ago
SAPONG I RESPECT UR COMENT BUT BEEN HASH ON FOOL MAKES U AN INFINITE FOOL CONTROL UR MOTION BEFORE IT MARS U JUST AS K4 SAID CHASING MAD MAN WHEN HE REMOVES UR CLOTHS MAKES U ONE.
SAPONG I RESPECT UR COMENT BUT BEEN HASH ON FOOL MAKES U AN INFINITE FOOL CONTROL UR MOTION BEFORE IT MARS U JUST AS K4 SAID CHASING MAD MAN WHEN HE REMOVES UR CLOTHS MAKES U ONE.
THE GENERAL 9 years ago
sarpong is a fool!
sarpong is a fool!
Kanawu 9 years ago
Sarpong rightly responded to that ayigbe Dumegah who started the insults.
Sarpong rightly responded to that ayigbe Dumegah who started the insults.
Pelicles 9 years ago
That foolish man once said "What is inflation to someone who is hungry"? This is the mentality of the longest head of state in our history and what sense can he make about monetary policy?
NDC should stop giving excuses an ... read full comment
That foolish man once said "What is inflation to someone who is hungry"? This is the mentality of the longest head of state in our history and what sense can he make about monetary policy?
NDC should stop giving excuses and tell the whole nation that they are incompetent. NDC is behaving like the "proverbial Konongo Kaya" who cannot carry the load yet, refuses to let anyone carry it.
Joe 9 years ago
"States dollar embarked upon by the government in 2007, for the current inflation problem." baboon! Foool. Ignorant Foool.
"States dollar embarked upon by the government in 2007, for the current inflation problem." baboon! Foool. Ignorant Foool.
Boateng, Columbus OH 9 years ago
you are saing the US dollar cents is still in curculation since whiles the cedi counterpart cannot buy any thing, come out and tell us what the US cent can buy in America. Pocket economist
you are saing the US dollar cents is still in curculation since whiles the cedi counterpart cannot buy any thing, come out and tell us what the US cent can buy in America. Pocket economist
DAN 9 years ago
WILL GET YOU A SNICKERS BAR AT DOLLAR TREE
WILL GET YOU A SNICKERS BAR AT DOLLAR TREE
NANA APPIAH 9 years ago
His face speaks it all.
His face speaks it all.
Joe 9 years ago
Bush monkey
Bush monkey
Alhassan Wala 9 years ago
Even with my G.C.E 'O' Level economics knowledge, I can positively thump my chest very loud that I have a better understanding of the current economic situation in the country more than this 'mumu' so called economist. I bet, ... read full comment
Even with my G.C.E 'O' Level economics knowledge, I can positively thump my chest very loud that I have a better understanding of the current economic situation in the country more than this 'mumu' so called economist. I bet, he is no economist just like Terkper, the accountant. Oh Ghana, when?
KWADWO 9 years ago
SO WHAT ARE YOU WAITING FOR TO OFFER A SOLUTION WE ARE IN A SERIOUS DOWNTURN.ALHASSAN WALA SPEAK OUT
SO WHAT ARE YOU WAITING FOR TO OFFER A SOLUTION WE ARE IN A SERIOUS DOWNTURN.ALHASSAN WALA SPEAK OUT
Pelicles 9 years ago
Just look at this economist face and haircut and that will tell you exactly where he comes from.
Just look at this economist face and haircut and that will tell you exactly where he comes from.
HON.SAM 9 years ago
He must relate to Kim Jong-un,the North Korean leader with a dangerous haircut.
He must relate to Kim Jong-un,the North Korean leader with a dangerous haircut.
PRAGMATIST 9 years ago
No need to comment.Let the Economist self distruct!!!. Senior Economist indeed!.
No need to comment.Let the Economist self distruct!!!. Senior Economist indeed!.
KANAWU 9 years ago
WHAT KIND OF ECONOMIST ARE YOU? OR YOU WANT YOUR NAME TO BE HEARD. DOES THE REDENOMINATION HAVE SOMETHING TO DO WITH NOT EXPORTING ANYTHING FROM GHANA, PRODUCTION OF TOOTHPICKS, NAILS, OR THE IMPORTATION OF ONIONS, TOMATOES E ... read full comment
WHAT KIND OF ECONOMIST ARE YOU? OR YOU WANT YOUR NAME TO BE HEARD. DOES THE REDENOMINATION HAVE SOMETHING TO DO WITH NOT EXPORTING ANYTHING FROM GHANA, PRODUCTION OF TOOTHPICKS, NAILS, OR THE IMPORTATION OF ONIONS, TOMATOES ETC? YOU SHOULD NOT CONFUSE US. WE ARE CONFUSED A LOT BY THE NDC.
Awurade Kum Mahama am yen 9 years ago
Whose father is this? Stupid economist.
Whose father is this? Stupid economist.
RPG 9 years ago
Does the IEA have such Economists in their midst? So how does this Economist explain away the Fifi Kwetey setting the record straight propaganda green book analysis to tout the achievement of a single digit inflation? These a ... read full comment
Does the IEA have such Economists in their midst? So how does this Economist explain away the Fifi Kwetey setting the record straight propaganda green book analysis to tout the achievement of a single digit inflation? These are the characters who make education come across as a stupid enterprise.
KING 9 years ago
EDUCATED FOOL
EDUCATED FOOL
Aku Doe 9 years ago
Eh! Mr Economist, Shame on you. How much did Mahama pay you. You are a disgrace to the institution.
Eh! Mr Economist, Shame on you. How much did Mahama pay you. You are a disgrace to the institution.
Afrowa 9 years ago
Finally some body has been bold to say it. The re-denomination of the Cedi was a very very bad idea. How can a country who largely depend on large volumes of imports coupled with little export earnings implement such a bad p ... read full comment
Finally some body has been bold to say it. The re-denomination of the Cedi was a very very bad idea. How can a country who largely depend on large volumes of imports coupled with little export earnings implement such a bad policy?I wish it can be reversed.
DAN 9 years ago
nobody can carry around big sums of worthless paper..what did Zimbawee do after loaves of bread cost 10,000??? The same thing..You can't even have vending machines that sell coke or cocoa bars because the money is always chan ... read full comment
nobody can carry around big sums of worthless paper..what did Zimbawee do after loaves of bread cost 10,000??? The same thing..You can't even have vending machines that sell coke or cocoa bars because the money is always changing and worthless
Damango 9 years ago
Hey stupid fuck face...incompetence, inept, deceitful, shit head. Where did you get your degree? Dumbass maybe first you need to return your degree because you are a sorry case of a PhD. You forgot that's why NDC came to p ... read full comment
Hey stupid fuck face...incompetence, inept, deceitful, shit head. Where did you get your degree? Dumbass maybe first you need to return your degree because you are a sorry case of a PhD. You forgot that's why NDC came to power to fix the economy. Enough of the blame games; NDC bastards had 3 years to fucking fix the economy instead of point fingers. That's what leadership does. You don't know your ass from your face. You're delusional and worthless piece of shit.
ameny 9 years ago
the man made some analyses that USA still using their quoins so that tells you that each n every blessed day we loose as much as one can imagine if our quoins are no used.So just think deep you ll understand the course.
the man made some analyses that USA still using their quoins so that tells you that each n every blessed day we loose as much as one can imagine if our quoins are no used.So just think deep you ll understand the course.
PK 9 years ago
To him 500,000.00 looks better then 50 cedis. Foolishness, the country needs to export more. Invite manufacturing companies in to create jobs "Tailors and hair dressers" are not jobs or somebody selling oranges on the street. ... read full comment
To him 500,000.00 looks better then 50 cedis. Foolishness, the country needs to export more. Invite manufacturing companies in to create jobs "Tailors and hair dressers" are not jobs or somebody selling oranges on the street. Export more then you import "which in term means you have what eveyone need" if you can create that kind of hob you import less or you import what you need to export. And am not economist, basic 101 math
Omanhene 9 years ago
Dumb economist, minister in waiting.
Dumb economist, minister in waiting.
me 9 years ago
Another one of those nonsensible NDC-paid "ecominists".
Another one of those nonsensible NDC-paid "ecominists".
Chiga 9 years ago
if it is the redenomination that is the problem then its simple. Government should just add the 4 zeros back.If an economistcannot to look at the facts in the face and say them as they are then we are introuble
if it is the redenomination that is the problem then its simple. Government should just add the 4 zeros back.If an economistcannot to look at the facts in the face and say them as they are then we are introuble
Kokonsa 9 years ago
I really like your reasoning. Gbam!
You just don't get why 'academic' economists will make statements like these. It just makes no sense and gets me exasperated. I wonder for Ghana. Must all important issues be politicised ... read full comment
I really like your reasoning. Gbam!
You just don't get why 'academic' economists will make statements like these. It just makes no sense and gets me exasperated. I wonder for Ghana. Must all important issues be politicised??
This one is below the reasoning radar. We have to get worried over these armchair researchers and their effusions.
THE GENERAL 9 years ago
re-read the article cos the guy touched on so many parts of the economy and the issues causing the depreciation.
re-read the article cos the guy touched on so many parts of the economy and the issues causing the depreciation.
atta kwaku 9 years ago
The more a country is able to export goods and services the more the country foreign currency. this is simple addition and subtraction. the cancellation of the 4 zoroes was of great advantage to traders and business men. mr s ... read full comment
The more a country is able to export goods and services the more the country foreign currency. this is simple addition and subtraction. the cancellation of the 4 zoroes was of great advantage to traders and business men. mr so called economist how has redonomibation of the cedi affected inflation up to date? due to political bias everybody seems to be going off track. you always want to shift blame. may God have mercy on you.
Naija boy 9 years ago
Even when it was redenominated the cedi strength wasnt stronger than the dollar or Naira bcus a whole "0000" was removed frm the old cedi if Nigeria remove "0000" from Naira it will be more the the dollar and pounds but the n ... read full comment
Even when it was redenominated the cedi strength wasnt stronger than the dollar or Naira bcus a whole "0000" was removed frm the old cedi if Nigeria remove "0000" from Naira it will be more the the dollar and pounds but the naira strength wont be stronge still, its not by redenomination but by the strength bigots!
Ganyobi Aryitey 9 years ago
I think the people of Ghana should wake-up and start to physicaly dicipline people who claim to be professionals but brings out useless contributions that in a common sense, even an illitrite can offer a sensible suggestion t ... read full comment
I think the people of Ghana should wake-up and start to physicaly dicipline people who claim to be professionals but brings out useless contributions that in a common sense, even an illitrite can offer a sensible suggestion to that, its only in Ghana that for instance,a Pastor can give a useless sermon on prosperity bcos it will benefit him instead of salvation,a police officer would take a poor taxi driver to court on the flimsy excuse on traffic offence,only bcos the poor driver cannot afford the bribe amount he has been cajouled to pay, a judge/lawyer would give an idiotic interpretion of the law which calls for them to be flucked bcos in commomon sense the ruling is absolutely stupid, a politician goes on platform / air to tell a blatant lie to the public as if he is telling a ferry tale to kids in the kingdergaten,we get up in the morning and found all sort of self styeled characters belonging to whatever organizations best suit them to tell the good people of Ghana all sort of nonsense, when was the cedi redominated,was the so-called economist domiciled in the outer space by then, why did the people of Ghana voted out the NPP government?enough of the stupid talks please!!!
NDC promised to correct all the mess NPP has cause so you good for nothing guys should either put-up or shut-up,why this nonsense now & what have you been doing all this time?as Brig.rtd.Nuunu Mensah said,if you guys feel the kitchen is too hot, then pls. get-out!!!
THE GENERAL 9 years ago
are yu 4 real? clueless guy like yu? yu wan advise Mahama? y do yu people mes Ga names?
are yu 4 real? clueless guy like yu? yu wan advise Mahama? y do yu people mes Ga names?
Ohene 9 years ago
So npp told the stupid Ndc to give woyomi 52mill Akomfem money create lot and share judgement dept,,,,,,
So npp told the stupid Ndc to give woyomi 52mill Akomfem money create lot and share judgement dept,,,,,,
KWAME KWAME 9 years ago
Please let's focus more on the solutions he has provided to resolve our current economic situation. This is a unique Economist simply because he understands the problem very well. If Government will use this guy's solutions, ... read full comment
Please let's focus more on the solutions he has provided to resolve our current economic situation. This is a unique Economist simply because he understands the problem very well. If Government will use this guy's solutions, we will soon be turning around for the better. The Government needs to make such a brilliant Economist a member of the National Economic Task Force. His solutions are spot on and very pragmatic. Mahama, please consult this guy and he will help your government tremendously. At ISSER, they conduct serious economic research for the country so he is making all this assertions based on facts and evidence. Great work, Dr. Kwakye
THE GENERAL 9 years ago
we need solutions and not the insults. Gh belongs to all of us!
we need solutions and not the insults. Gh belongs to all of us!
Concerned Ghanaian 9 years ago
It's a disgrace for this man to be called an economist. I would want to know all the schools he went to get his degrees including secondary school.
Apart from gearing himself for political appointment from the president he h ... read full comment
It's a disgrace for this man to be called an economist. I would want to know all the schools he went to get his degrees including secondary school.
Apart from gearing himself for political appointment from the president he has no clue of any practical economics.
There were lot of practical reasons why the re-denomination was necessary, example many financial software and equipments could not cope with the large amount of cedis in calculation. Was "the economist" in Ghana pre change to see the bags of cedis one have to carry around from the bank or to take to the chop bars?
And lastly the re-denomination was done in anticipation of Mahama going to change three million dollars from cedis to be transported to Brazil last month. Tweeaaaaa economist.
THE GENERAL 9 years ago
another idiot! Cos yu can type means yu must insult? Phd in Ghana is not 4 small minds like yu!
another idiot! Cos yu can type means yu must insult? Phd in Ghana is not 4 small minds like yu!
Africa 9 years ago
This is another "delusional fool". Clearly, he is mad as exemplified by his haircut. I wonder why anyone listened to him, when we ought to be sorry for him and arrange a permanent home for him at "Ankaful",
This is another "delusional fool". Clearly, he is mad as exemplified by his haircut. I wonder why anyone listened to him, when we ought to be sorry for him and arrange a permanent home for him at "Ankaful",
Humphrey Mensah 9 years ago
Where did this moron get his doctorate certificate?
Where did this moron get his doctorate certificate?
Eddy 9 years ago
Was it redenomination that gave $51m to Agbesi woyome?Was it redenomination that took away the Subah and Gyeeda funds.As we continue to pay NHIS levy on Imports,is it redenomination that is making it impossible for Gov't to r ... read full comment
Was it redenomination that gave $51m to Agbesi woyome?Was it redenomination that took away the Subah and Gyeeda funds.As we continue to pay NHIS levy on Imports,is it redenomination that is making it impossible for Gov't to release such funds to the NHIA?And he calls himself a Dr.tweeaaaaa!
Mars 9 years ago
Every stupid person can just come out on board n talk nonsense, soo call economist are confusing in Ghana, just check our import n export it the best way to protect any currency in this world,
Every stupid person can just come out on board n talk nonsense, soo call economist are confusing in Ghana, just check our import n export it the best way to protect any currency in this world,
g dot hana (BP) 9 years ago
Who uses the cent to buy anything? If you can't use the 1pesewa to buy anything, you should know that you also can't use the 1cent to buy anything either. These arguments about redenomination are a complete nonsense.
Who uses the cent to buy anything? If you can't use the 1pesewa to buy anything, you should know that you also can't use the 1cent to buy anything either. These arguments about redenomination are a complete nonsense.
Victor 9 years ago
What do you think judgement debt, oversized government appointees, corruption, high taxation, high utility prices, inflation of cost of government projects, sole sourcing of contracts, undermining of all state institutions an ... read full comment
What do you think judgement debt, oversized government appointees, corruption, high taxation, high utility prices, inflation of cost of government projects, sole sourcing of contracts, undermining of all state institutions and corrupt divestiture of state property and industries, do to any economy in the world ?
KOO 9 years ago
Redenomination can never be blamed for the economic woes of Ghana.Those of us old enough to have witness this problem can still recollect the amount of paper notes that was needed for business transactions.Is this so called s ... read full comment
Redenomination can never be blamed for the economic woes of Ghana.Those of us old enough to have witness this problem can still recollect the amount of paper notes that was needed for business transactions.Is this so called senior Economist telling us that we should have gone the Zimbabwean way or the Zairian way where notes in billions were printed?.This man has got it all wrong,there have been so many countries that have had this problem in the past including almighty Germany and have to come up with revaluation and cutting down the number of the Mark in circulation.This permits people to carry money in their wallet rather than in Ghana must go or black plastic bags as witness in JJ's time.This man must revised his notes.
Hard Listeners 9 years ago
This is indeed a very strange submission by this economist. How can all the wanton illegal payments made to subah, gyeeda and the rest be overlooked and a submission made that re denomination of the cedi has rather caused inf ... read full comment
This is indeed a very strange submission by this economist. How can all the wanton illegal payments made to subah, gyeeda and the rest be overlooked and a submission made that re denomination of the cedi has rather caused inflationary pressures today? in the 1990's till 2000 when inflation was at its highest peak of over 49%, had the then President Rawlings done any re denomination? Kindly find a better excuse to prop up this failing govt and not this submission.
OwuraG 9 years ago
This is quite senseless. How can such a person be in such an august office like the IEA?
This is quite senseless. How can such a person be in such an august office like the IEA?
veronica 9 years ago
useless DR. stomach filled disguised politician. how do you compare the economy in 2007 with today. let all be frank and stop pretending because of political affiliations.
useless DR. stomach filled disguised politician. how do you compare the economy in 2007 with today. let all be frank and stop pretending because of political affiliations.
NANA USA 9 years ago
NO PROPAGANDA FROM STUPID PEOPLE WILL SAVE THE GOVERNMENT
NO PROPAGANDA FROM STUPID PEOPLE WILL SAVE THE GOVERNMENT
simplify 9 years ago
How much money does country generate(farms,factories,services)?
How much money leaves the country(imports)?
How much money comes into the country(exports)?
How much resources are wasted(through ignorance or illiteracy and ... read full comment
How much money does country generate(farms,factories,services)?
How much money leaves the country(imports)?
How much money comes into the country(exports)?
How much resources are wasted(through ignorance or illiteracy and corruption?
If you know the above then you can solve most of the poverty problem.
Haile Mengistus Manasseh V11 9 years ago
Thanks so much for stating the cause of the current challenges the economy is experiencing and coming out with suggestions that would arrest the declining economic condition. You are a true citizen of Ghana. You fearlessly pi ... read full comment
Thanks so much for stating the cause of the current challenges the economy is experiencing and coming out with suggestions that would arrest the declining economic condition. You are a true citizen of Ghana. You fearlessly pin-point the possible cause of the problem and boldly lay out the possible remedies. This what all Ghanaian intellectuals should be doing and not be running down the Government as if the Gov't is solely responsible for the problem and its resolution.
Mike Gizo 9 years ago
You're not a failure until u blame others. Redenomination was done in 2007 n the cedi was performing strongly against some major foreign currencies until the corrupt n incompentent ndc thugs took over the helms of affairs.
... read full comment
You're not a failure until u blame others. Redenomination was done in 2007 n the cedi was performing strongly against some major foreign currencies until the corrupt n incompentent ndc thugs took over the helms of affairs.
Where was this senior economist? Who is he? Where did he get his phd n who supervised him?
This man is a shame n an accidental byeproduct of his intelligentia. N he is with iea? Oh my gosh. What solutions has he ever proposed for Ghana dying economy n whom is he trying to please this time. Such an arm chair theorist should spare us this shambolic argument in the face of ghanas economic woes n should quickly be sacked by the revered iea.even in America, for his information people don't take cents as a change cos it has less purchasing power.
Antoa Nyamah 9 years ago
Corruption and the government`s inability to contrill it is the cause of Ghana`s economic problem.The Government have instituted Commissions and Commitees but nothing had come out.
the Woyome,GYEEDA,SUBAH etc cases are pend ... read full comment
Corruption and the government`s inability to contrill it is the cause of Ghana`s economic problem.The Government have instituted Commissions and Commitees but nothing had come out.
the Woyome,GYEEDA,SUBAH etc cases are pending.The loan from China which we are paying interest on eventhough we have not got the money.the $3.5 million money airlifted to Brazil.
Bismarck 9 years ago
The problem is not with the re-denomination. when the public rejected the 0ne pesewa coins bcos they were too tiny to handle, the BoG should have re-printed bigger ones. Also the five pesewa coins should have also been increa ... read full comment
The problem is not with the re-denomination. when the public rejected the 0ne pesewa coins bcos they were too tiny to handle, the BoG should have re-printed bigger ones. Also the five pesewa coins should have also been increase in size. Again another denomination say three pesewas should have also been printed. It is the absence of these small denomination that cause the inflation we see now. when there is a little increase in pricess, say one pesewas, becos there is no one pesewas in circulation the nearest coins will be used as the increase. if something is to be sold at one pesewa becos there is no one pesewa it will be sold at ten pesewas. So The BoG should re-think and introduse one and three pesewa coins.
Obiba J.K 9 years ago
now u believed that Rawlings tells truth?dont use hatred to insult a good person because God only knows the heart.
now u believed that Rawlings tells truth?dont use hatred to insult a good person because God only knows the heart.
ibn abudu @ Canadasheabutter (GhUWR) 9 years ago
The economic fundamentals weren't there , Thank you very much, Tell the unwise politicians of all sides to STOP BLAMING EACH OTHER FOR THE DECLINING GHC. THE GAME FOR THE ECONOMIC FUNDAMENTALS WEREN'T [UT IN PLACE. COMMON PEN ... read full comment
The economic fundamentals weren't there , Thank you very much, Tell the unwise politicians of all sides to STOP BLAMING EACH OTHER FOR THE DECLINING GHC. THE GAME FOR THE ECONOMIC FUNDAMENTALS WEREN'T [UT IN PLACE. COMMON PENS GH IMPORTS ITS WITH HARD CURRENCY
BOY KOFI 9 years ago
Ghana produces and exports more than many of these Francophone countries in Africa but why is that their currency never depreciates over the years?Please somebody help me.Thank you.
Ghana produces and exports more than many of these Francophone countries in Africa but why is that their currency never depreciates over the years?Please somebody help me.Thank you.
Sankofa 9 years ago
The CFA is tied to the French franc.
The exchange rate is fixed by the French.
This means pressures could potentially build up elsewhere in the economy eg with inflation.
The CFA is tied to the French franc.
The exchange rate is fixed by the French.
This means pressures could potentially build up elsewhere in the economy eg with inflation.
Where has this economist been all these years ? Why wait after seven years before coming out with these ineffective pronouncements? A typical Black economist indeed.It seems Ghanaian economists really don't have have any solu ...
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Former President Kufour and his brigade are the problems govt is trying to solve. They intentionally created the problem with the intend of making any govt who come after very unpopular. The redomination of the cedi was quest ...
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HOMOSEXUALS ARE 99% OF ndc VOTERS THE OTHERS ARE LESBIAN THIEVES! NIGGER BOY YOU PROVE THAT GOD GAVE THE BLACKMAN A SMALL MONKEY BRAIN AND SKIN THE COLOR OF FECES TO BE THE PERFECT SLAVE FOR THE WHITE AND CHINA MEN!!
FROM MY SAS7(middle school form 4) education, one of the most economic attraction for investment in a country was the stability of the currency. In fact during Prez. Kuffour's time the cedi was very stable. The decimation of ...
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The redinomination is not the problem. The macroeconomic conditions to propel the strength of the cedi are not.sound. No factories, high imports, public sector corruption, high govt loans, govt inability to pay down deficit, ...
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Americans have 'IN GOD WE TRUST' on their money and Ghana used to have the symbol 'GYE NYAME' on our currency but k4 and his NPP deleted it from the cedi all because it was jj Rawlings who embossed that symbol on our money. i ...
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I think the Economist did not go to a proper economist school because, he schould have first check to other countries like Turkey,before, they were having more than six zero's ending their money but when those zero's were r ...
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It seems to me this economist attended night school or University of J D MAHAMA.If not what about Brazil who redenominated their currency?The real cause of the problem is the woyomisation,isofotonisation gyeedasition and so o ...
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Ringo, you beat me to it. The redenomination is responsible for our recent 15 percent inflationary hike? The redenomination was in 2007 and in 2009 when Npp was handing over power to Ndc, the inflation was 18 percent haven in ...
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What a thing to say. These are the people with DR and they have no class mates or dissertation from any brick and mortar school.
The same university where Bawumia got his. When Bawumia gave that jaundice partisan political lecture about the economyand consciouslyignore the major problem of redenomination which is basic for a level 100 economic student ...
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The truth be told, what this guy is saying is so right and there is even more to that.
This crave of foreign exchange picked up momentum under Rawlings. After he run the country bankrupt with his flirtation with communist ...
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He said arresting the cedi decline on a durable basis requires fundamentally transforming the economy by diversifying and adding value to exports, promoting domestic industrialisation in order to reduce import demand, and ent ...
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This so call economist is not good.
stop the crap and call a spade a spade.when Atta was in power how was the cedi to the dollar?It is the bad economic policies that has caused all these problems not the re-denomination.Any crap can call himself economist.give ...
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his stupidity is so clear
Hey Mensah, don't confuse yourself, I think it's his sunglasses that he has hang on to of his head:)
Whatever it is, is seems like he is being fucked in the ass or has "piles". You can see the lies written all his face. He has been paid to say this so he doesn't feel comfortable.
No buddy, it s his hair cut, this dude is over 60 years and putz around like those clueless football pros. He actually wears "guarantees" shoes! But I digress....yes the redenomination may have caused some bit of price inflat ...
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I would understand the redenomination/inflation argument to the extent of its effect in 2007, 2008, 2009 and perhaps 2010. Beyond that the indicators should have stabilised well enough. Fiscal indiscipline to a large extent ...
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Any economist we will tell u when ur country import more and produce less- your currency is affect- uncluding the massive stealing from the NDC govt- Ghana now 60 billions in debt
Rawlings said this, bingo!!!!.Unscrupulous NPP followers only called JJ names & will equally call this economist names!.
You really have to be an idiot to buy this foolishness. Since 2009, the inflation has been going down from 18 percent to 8 percent in December 2013 which Ndc took credit for and now that their 20 billion dollars deficit they ...
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Why wouldn't a bigger illiterate like Sarpong, understand that knocking out 4 zeros without boosting a corresponding productive capacity of the economy and allowing a frivolous and an empty pink sheet court case of 8 months h ...
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You are an illiterate idiot. Tell me how a redenomination in 2007 cause inflation in 2014, a good seven years later. When redenomination was implemented in 2007, inflation was 17 percent and now inflation is 15 percent so you ...
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SAPONG I RESPECT UR COMENT BUT BEEN HASH ON FOOL MAKES U AN INFINITE FOOL CONTROL UR MOTION BEFORE IT MARS U JUST AS K4 SAID CHASING MAD MAN WHEN HE REMOVES UR CLOTHS MAKES U ONE.
sarpong is a fool!
Sarpong rightly responded to that ayigbe Dumegah who started the insults.
That foolish man once said "What is inflation to someone who is hungry"? This is the mentality of the longest head of state in our history and what sense can he make about monetary policy?
NDC should stop giving excuses an ...
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"States dollar embarked upon by the government in 2007, for the current inflation problem." baboon! Foool. Ignorant Foool.
you are saing the US dollar cents is still in curculation since whiles the cedi counterpart cannot buy any thing, come out and tell us what the US cent can buy in America. Pocket economist
WILL GET YOU A SNICKERS BAR AT DOLLAR TREE
His face speaks it all.
Bush monkey
Even with my G.C.E 'O' Level economics knowledge, I can positively thump my chest very loud that I have a better understanding of the current economic situation in the country more than this 'mumu' so called economist. I bet, ...
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SO WHAT ARE YOU WAITING FOR TO OFFER A SOLUTION WE ARE IN A SERIOUS DOWNTURN.ALHASSAN WALA SPEAK OUT
Just look at this economist face and haircut and that will tell you exactly where he comes from.
He must relate to Kim Jong-un,the North Korean leader with a dangerous haircut.
No need to comment.Let the Economist self distruct!!!. Senior Economist indeed!.
WHAT KIND OF ECONOMIST ARE YOU? OR YOU WANT YOUR NAME TO BE HEARD. DOES THE REDENOMINATION HAVE SOMETHING TO DO WITH NOT EXPORTING ANYTHING FROM GHANA, PRODUCTION OF TOOTHPICKS, NAILS, OR THE IMPORTATION OF ONIONS, TOMATOES E ...
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Whose father is this? Stupid economist.
Does the IEA have such Economists in their midst? So how does this Economist explain away the Fifi Kwetey setting the record straight propaganda green book analysis to tout the achievement of a single digit inflation? These a ...
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EDUCATED FOOL
Eh! Mr Economist, Shame on you. How much did Mahama pay you. You are a disgrace to the institution.
Finally some body has been bold to say it. The re-denomination of the Cedi was a very very bad idea. How can a country who largely depend on large volumes of imports coupled with little export earnings implement such a bad p ...
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nobody can carry around big sums of worthless paper..what did Zimbawee do after loaves of bread cost 10,000??? The same thing..You can't even have vending machines that sell coke or cocoa bars because the money is always chan ...
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Hey stupid fuck face...incompetence, inept, deceitful, shit head. Where did you get your degree? Dumbass maybe first you need to return your degree because you are a sorry case of a PhD. You forgot that's why NDC came to p ...
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the man made some analyses that USA still using their quoins so that tells you that each n every blessed day we loose as much as one can imagine if our quoins are no used.So just think deep you ll understand the course.
To him 500,000.00 looks better then 50 cedis. Foolishness, the country needs to export more. Invite manufacturing companies in to create jobs "Tailors and hair dressers" are not jobs or somebody selling oranges on the street. ...
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Dumb economist, minister in waiting.
Another one of those nonsensible NDC-paid "ecominists".
if it is the redenomination that is the problem then its simple. Government should just add the 4 zeros back.If an economistcannot to look at the facts in the face and say them as they are then we are introuble
I really like your reasoning. Gbam!
You just don't get why 'academic' economists will make statements like these. It just makes no sense and gets me exasperated. I wonder for Ghana. Must all important issues be politicised ...
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re-read the article cos the guy touched on so many parts of the economy and the issues causing the depreciation.
The more a country is able to export goods and services the more the country foreign currency. this is simple addition and subtraction. the cancellation of the 4 zoroes was of great advantage to traders and business men. mr s ...
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Even when it was redenominated the cedi strength wasnt stronger than the dollar or Naira bcus a whole "0000" was removed frm the old cedi if Nigeria remove "0000" from Naira it will be more the the dollar and pounds but the n ...
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I think the people of Ghana should wake-up and start to physicaly dicipline people who claim to be professionals but brings out useless contributions that in a common sense, even an illitrite can offer a sensible suggestion t ...
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are yu 4 real? clueless guy like yu? yu wan advise Mahama? y do yu people mes Ga names?
So npp told the stupid Ndc to give woyomi 52mill Akomfem money create lot and share judgement dept,,,,,,
Please let's focus more on the solutions he has provided to resolve our current economic situation. This is a unique Economist simply because he understands the problem very well. If Government will use this guy's solutions, ...
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we need solutions and not the insults. Gh belongs to all of us!
It's a disgrace for this man to be called an economist. I would want to know all the schools he went to get his degrees including secondary school.
Apart from gearing himself for political appointment from the president he h ...
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another idiot! Cos yu can type means yu must insult? Phd in Ghana is not 4 small minds like yu!
This is another "delusional fool". Clearly, he is mad as exemplified by his haircut. I wonder why anyone listened to him, when we ought to be sorry for him and arrange a permanent home for him at "Ankaful",
Where did this moron get his doctorate certificate?
Was it redenomination that gave $51m to Agbesi woyome?Was it redenomination that took away the Subah and Gyeeda funds.As we continue to pay NHIS levy on Imports,is it redenomination that is making it impossible for Gov't to r ...
read full comment
Every stupid person can just come out on board n talk nonsense, soo call economist are confusing in Ghana, just check our import n export it the best way to protect any currency in this world,
Who uses the cent to buy anything? If you can't use the 1pesewa to buy anything, you should know that you also can't use the 1cent to buy anything either. These arguments about redenomination are a complete nonsense.
What do you think judgement debt, oversized government appointees, corruption, high taxation, high utility prices, inflation of cost of government projects, sole sourcing of contracts, undermining of all state institutions an ...
read full comment
Redenomination can never be blamed for the economic woes of Ghana.Those of us old enough to have witness this problem can still recollect the amount of paper notes that was needed for business transactions.Is this so called s ...
read full comment
This is indeed a very strange submission by this economist. How can all the wanton illegal payments made to subah, gyeeda and the rest be overlooked and a submission made that re denomination of the cedi has rather caused inf ...
read full comment
This is quite senseless. How can such a person be in such an august office like the IEA?
useless DR. stomach filled disguised politician. how do you compare the economy in 2007 with today. let all be frank and stop pretending because of political affiliations.
NO PROPAGANDA FROM STUPID PEOPLE WILL SAVE THE GOVERNMENT
How much money does country generate(farms,factories,services)?
How much money leaves the country(imports)?
How much money comes into the country(exports)?
How much resources are wasted(through ignorance or illiteracy and ...
read full comment
Thanks so much for stating the cause of the current challenges the economy is experiencing and coming out with suggestions that would arrest the declining economic condition. You are a true citizen of Ghana. You fearlessly pi ...
read full comment
You're not a failure until u blame others. Redenomination was done in 2007 n the cedi was performing strongly against some major foreign currencies until the corrupt n incompentent ndc thugs took over the helms of affairs.
...
read full comment
Corruption and the government`s inability to contrill it is the cause of Ghana`s economic problem.The Government have instituted Commissions and Commitees but nothing had come out.
the Woyome,GYEEDA,SUBAH etc cases are pend ...
read full comment
The problem is not with the re-denomination. when the public rejected the 0ne pesewa coins bcos they were too tiny to handle, the BoG should have re-printed bigger ones. Also the five pesewa coins should have also been increa ...
read full comment
now u believed that Rawlings tells truth?dont use hatred to insult a good person because God only knows the heart.
The economic fundamentals weren't there , Thank you very much, Tell the unwise politicians of all sides to STOP BLAMING EACH OTHER FOR THE DECLINING GHC. THE GAME FOR THE ECONOMIC FUNDAMENTALS WEREN'T [UT IN PLACE. COMMON PEN ...
read full comment
Ghana produces and exports more than many of these Francophone countries in Africa but why is that their currency never depreciates over the years?Please somebody help me.Thank you.
The CFA is tied to the French franc.
The exchange rate is fixed by the French.
This means pressures could potentially build up elsewhere in the economy eg with inflation.