My Ghanaian economy
For those who know me personally, I have always been a fan of President Mahama but considering all that is currently facing this nation, I must express some concern.
This country is facing several hardships. This bus seems to be steering off course, and so, we need to alert our driver.
For a fact, most countries are facing hardship. It is a global recession. My Italian colleagues will tell me that, on the average, most people in Italy earn below their average household expenditure. In the United Kingdom, things are no different. Even in America, God’s own supposed country, things are quite tough, and have been for a while now. What then becomes of our poor economy? Our economy, that is so reliant on foreign aid. Our economy that depends on foreign economies! In a country where we go carrying collection bags at various summits purposely for funds for almost all projects. A country that goes aborrowing each time a project needs to be executed.
Quite recently, I heard on the news that Ghana made at least 800million dollars from our oil revenue. What has, or what will become of that money? I live in Takoradi and I keep asking myself this question on a daily basis; what is happening to the revenues from our oil exploration. We keep boasting of our oil country, but what is happening to that money? What of the oil? Yes, this country is earning from her oil find, but are Ghanaians enjoying the true benefits, if any?
I know some may argue that these monies are being used as subsidies but subsidies to what? Considering the current daily tax upsurges, I have serious doubts. Rather sadly, the usual talks continue. It is always talks about the government putting in measures to secure our currency! Measures to curb inflation! To the average man, a hodgepodge of meaningless words! Are they any true measures? Like most measures put in place in the past, we feel the sting each day. Ghana never takes a holistic measure in addressing issues. We only put in temporary solutions, and then as always, a few years down the lane, nemesis catches up with us.
The economic hardships we are facing in this nation did not just pop up on us one morning like a surprise! It was gradual! There were warning signs, but our leadership ignored them. The poor state of our economy is because our leaders have failed to find lasting solutions to our developmental issues. Yes, the issues this country is facing are mere developmental issues, and not mystics. Our leadership only gives it surface dressings as solutions. Just like how we treat potholes on our roads!
Can Ghana ever learn to tackle issues from the foundation? Leaders come and go, and yet rather disappointingly, they leave without finding lasting solutions to our problems. In Ghana today, prices of utilities keep soaring each day. Can our governments not learn to take a bold step by increasing these prices once to cover a considerable period? That will save us the yearly or considering our current situation, the daily increments. Our central bank is talking about closing down dollar accounts, and yet, there are talks of exemptions, and so, in the end, the standards are further lowered! We keep talking about inflation but to what avail? Can these daily increments in any way, stabilise our economy? Of course, our dirty politics is quite elusive to the realities surrounding us.
Our central bank has now seen the need to forestall local transactions in foreign currencies. I am indeed surprised at how long it has taken us to come to this reality. But the question is: how many Ghanaians have dollar accounts or largely trade on such terms? It falls back to those on top! Yes, we are the cause of our own problems and so, in finding solutions, we conveniently go on a wild goose chase! We have made our markets and economy so susceptible! And for what? Our selfish interest, as always!
Can our governments really solve our problems? I am not happy with the current happenings in this nation.
President Mahama has been behind the steering wheel of this bumpy ride for some time now and as an optimist, I look forward to when he would turn this bumpy ride into a safe and smooth cruise. Until then, the future seems really bleak.
Writer’s email: nnhanson2@yahoo.com / esociocomm.blogspot.com