You are deliberately spinning around the truth. Borrowing, life is hard no money and yet affording State funerals, am talking about your guy who got electrocuted, a special aid to Mr Bawumia,what are the locus behind it?
You are deliberately spinning around the truth. Borrowing, life is hard no money and yet affording State funerals, am talking about your guy who got electrocuted, a special aid to Mr Bawumia,what are the locus behind it?
OZ 7 years ago
The funeral expenses for Bawumia's aide was in cedis. What about the V8 given to John Dumelo and his girlfriend by Lordina? One of the several useless moves causing the depreciation of the cedi. Do we need the numerous V8'S t ... read full comment
The funeral expenses for Bawumia's aide was in cedis. What about the V8 given to John Dumelo and his girlfriend by Lordina? One of the several useless moves causing the depreciation of the cedi. Do we need the numerous V8'S to govern the country? Think and stop your unnecessary NDC/NPP argument.
Citizen 7 years ago
Good write up, Mr Afolabi. I dare say you are Nigerian, by birth, but I love you for your spirit as a naturalised Ghanaian.
Government should implement your recommendations. The past govenment was simply clueless, borrowin ... read full comment
Good write up, Mr Afolabi. I dare say you are Nigerian, by birth, but I love you for your spirit as a naturalised Ghanaian.
Government should implement your recommendations. The past govenment was simply clueless, borrowing recklessly and using nearly 60% on development riddled with sole sourced inflated contracts that gave us negligible value. Then the other 40% was misappropriated by public officials and politicians and their cronies.
De Trainers 7 years ago
WE'RE ALMOST IN April 2017 ALREADY! Can't you see? Still waiting and wasting when you have hands? Are U still searching for work 2017?; Between age 18-50 yrs; A graduate or school leaver? Retired, Sacked or tired of low wage ... read full comment
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ABOAGYE 7 years ago
ARE (0540527508) YOU A STUDENT,GOVERNMENT
WORKER,
OR UNEMPLOYED LOOKING FOR A BUSINESS TO DO ON PART TIME / FULL TIME.
CALL MR ABOAGYE !!!(0540527508)
ARE (0540527508) YOU A STUDENT,GOVERNMENT
WORKER,
OR UNEMPLOYED LOOKING FOR A BUSINESS TO DO ON PART TIME / FULL TIME.
CALL MR ABOAGYE !!!(0540527508)
Ras 7 years ago
The funny puzzle I can't seem to solve is no when campaigning the politicians seems to a road map with it evidence how to manage this and that. I bet all the ministers appointed have knowledge about how to go about it which ... read full comment
The funny puzzle I can't seem to solve is no when campaigning the politicians seems to a road map with it evidence how to manage this and that. I bet all the ministers appointed have knowledge about how to go about it which is the hard way.
Well done bro.
This country Is currently experiencing Hooke's law of tension strength. Oneday that self nurturing time bomb will go off and we will witnese it.
Kofi UK 7 years ago
Mr Ofolabi, your analysis is right but not your recommendations. I agree with you to strengthen our export and curb import but these are long term. The problem is that our political parties don't embark in anything that will ... read full comment
Mr Ofolabi, your analysis is right but not your recommendations. I agree with you to strengthen our export and curb import but these are long term. The problem is that our political parties don't embark in anything that will not yield a good result within their term of office hence borrowing to gain popular votes. This government has just given away Duties as a reward to spare parts dealers, a source of revenue to the government. He has given away a lot of things as well. These kneejerk reactions will never solve our problems. UK government is always looking for ways to raise revenue to spend on her own people even though their economy is a sound based on visible and invisible trades.
If we trade in our currency as you suggested, what will happen is that people will go to the black market and change the monies back into dollars because nobody wants to hold the cedi. The truth must be said, Ghana is a poor country (you can check on GDP ranking of the world)yet we talk like there is abundance of money somewhere to meet every promises made by these irresponsible politicians. We needs to strengthen our tax collection systems. A Ghanaian is prepared to give his money to a self ordained Pastor as tithe but not prepared to pay his taxes to the government. A country's strong economy also rests on good tax collection. We can't borrow to pay public sector employees. Ghana has a problem.
Atule Samuel 7 years ago
This is a great submission. Hope stakeholders and government will consider it. great job
This is a great submission. Hope stakeholders and government will consider it. great job
Kwabena Yeboah 7 years ago
The depreciation of the cedi started in 2007 and 2008 immediately after Bawumia's redenomination of the cedi. For Bawumia and his staff at BoG the chickens have come home to roost, and Bawumia must deal with the falling cedi ... read full comment
The depreciation of the cedi started in 2007 and 2008 immediately after Bawumia's redenomination of the cedi. For Bawumia and his staff at BoG the chickens have come home to roost, and Bawumia must deal with the falling cedi.
The redenomination of the cedi itself was not the issue, but the problem was pegging the new Ghana cedi at GHc0.92 to the US$1.00, meaning 0.92 pesewas was equivalent to $1.00 against weak economic fundamentals; rising inflation, declining foreign reserves, growing fiscal deficit, surging monetary growth, etc., etc. Soon after the pegging of the cedi to the $, between July 2007 and December 2008 and unbeknownst to Ghanaians BoG sold up to $1.2 billion to prop up the cedi as the cedi continued its downslide to a whopping 31% of its value. What Bawumia and the geeks in BoG is they fool Ghanaians but they cannot fool currency traders (arbitrageurs).
Bawumia did terrible things at the Central Bank during his tenure and I am so glad his shit has hit the fan for him to smell it. It was Bawumia and Paul Acquah the former governor who advised the Kufuor administration in 2006 to liberalize Ghana's capital market to allow foreigners or non-residents to participate in buying government securities. Never in the annals of finance have foreigners and non-residents have been allowed to buy government securities. Only in Ghana!!!
By allowing foreigners and non-residents to participate in government securities, the cedi continued its downward slide when in December 2008 the sub prime mortgage crashed and the foreigners and non-residents dumped the cedi.
The bible says, for lack of knowledge my people perish. The writer of the article should have visited BoG website before writing this article because they have all the info there.
You are deliberately spinning around the truth. Borrowing, life is hard no money and yet affording State funerals, am talking about your guy who got electrocuted, a special aid to Mr Bawumia,what are the locus behind it?
The funeral expenses for Bawumia's aide was in cedis. What about the V8 given to John Dumelo and his girlfriend by Lordina? One of the several useless moves causing the depreciation of the cedi. Do we need the numerous V8'S t ...
read full comment
Good write up, Mr Afolabi. I dare say you are Nigerian, by birth, but I love you for your spirit as a naturalised Ghanaian.
Government should implement your recommendations. The past govenment was simply clueless, borrowin ...
read full comment
WE'RE ALMOST IN April 2017 ALREADY! Can't you see? Still waiting and wasting when you have hands? Are U still searching for work 2017?; Between age 18-50 yrs; A graduate or school leaver? Retired, Sacked or tired of low wage ...
read full comment
ARE (0540527508) YOU A STUDENT,GOVERNMENT
WORKER,
OR UNEMPLOYED LOOKING FOR A BUSINESS TO DO ON PART TIME / FULL TIME.
CALL MR ABOAGYE !!!(0540527508)
The funny puzzle I can't seem to solve is no when campaigning the politicians seems to a road map with it evidence how to manage this and that. I bet all the ministers appointed have knowledge about how to go about it which ...
read full comment
Mr Ofolabi, your analysis is right but not your recommendations. I agree with you to strengthen our export and curb import but these are long term. The problem is that our political parties don't embark in anything that will ...
read full comment
This is a great submission. Hope stakeholders and government will consider it. great job
The depreciation of the cedi started in 2007 and 2008 immediately after Bawumia's redenomination of the cedi. For Bawumia and his staff at BoG the chickens have come home to roost, and Bawumia must deal with the falling cedi ...
read full comment