Fitch report not important - Pratt

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Zoobie-Zoobie 12 years ago

the guy can comment on anything... unbelievable

the guy can comment on anything... unbelievable
Gye Nyame 12 years ago

Pratt does not know what he is talking about, Ghana depends heavily on loans so having a good credit rating is very important. All the ifs ifs he is talking about is not happening and I don't see it happening for a long time.

Pratt does not know what he is talking about, Ghana depends heavily on loans so having a good credit rating is very important. All the ifs ifs he is talking about is not happening and I don't see it happening for a long time.
OYOKOBA 12 years ago

I hope no one in government is taking cues and advice from this ape with a microphone and yellow newspaper. But unfortunately they do, the other day another ignorant lousy mouth in the person of Felix Ofosu Kwakye said the sa ...
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I hope no one in government is taking cues and advice from this ape with a microphone and yellow newspaper. But unfortunately they do, the other day another ignorant lousy mouth in the person of Felix Ofosu Kwakye said the same thing. Basically what they are saying is even when your credit ratings are going down the tubes, don't worry be happy.

How can you not worry when your government cannot even construct a latrine without going to seek a foreign loan for it? The obvious thing is that Kwesi Pratt and the likes of Bature are all rented mouths by the non-performing NDC, and for that reason they will beat about the sides of the drum instead of the face to herald the truth. Ghana seriously has gone to the dogs. The idiots are screwing us big time, galloping towards HIPC junction, and all that they can say is: don't worry, be happy. What is the depth of Kwesi Pratt's knowledge capital that makes him rush to every microphone that he come's across? Awurade Nyakopong help us!
K9 Lead Vendor 12 years ago

Cogently put. But Ghana's economy cannot go down the tubes if there are no tubes. People crap on the beach.
Kwesi Pratt's core interest is attracting publicity to himself. And he is very good at that. But surely no one is st ...
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Cogently put. But Ghana's economy cannot go down the tubes if there are no tubes. People crap on the beach.
Kwesi Pratt's core interest is attracting publicity to himself. And he is very good at that. But surely no one is stupid enough to listen to his infantile economics?
Mr CNN 12 years ago

Ghana is doomed. Pratt is always talking shit.

Ghana is doomed. Pratt is always talking shit.
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ATSU, HO 12 years ago

AS A JOURNALIST PRATT MUST COMMENT ON EVERYTHING WHETHER HE UNDERSTANDS IT OR NOT. HE SHOULD READ LIKE HIS COUNTERPART KWEKU BARKO IF HE SHOULD MAKE ANY MEANINGFUL CONTRIBUTION TO ANY NATIONAL ISSUE.

AS A JOURNALIST PRATT MUST COMMENT ON EVERYTHING WHETHER HE UNDERSTANDS IT OR NOT. HE SHOULD READ LIKE HIS COUNTERPART KWEKU BARKO IF HE SHOULD MAKE ANY MEANINGFUL CONTRIBUTION TO ANY NATIONAL ISSUE.
Mr. Figure-Out 12 years ago

"He said if the country will stop importing and rather focus on maximizing the resources in the country, such reports will not matter to us." Stop importing what? Does it means Ghana has now developed to a stage that we don' ...
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"He said if the country will stop importing and rather focus on maximizing the resources in the country, such reports will not matter to us." Stop importing what? Does it means Ghana has now developed to a stage that we don't need to import because we can now manufacture our own cars, we are self sufficient in the drilling our oil, have the technology to mine our mineral deposits , manufacture our own brand of computers, television sets etc or what is this all knowing Pratt guy telling us? Well I blame his rented brains to his paymasters who are forcing him to defend the indefensible.
KB,LONDON 12 years ago

These guys are living in a fool's paradise. Well, he that is down need fear no fall.
Pratt:"if we are to do this......if we are to stop that...blah blah" Why don't you do or stop it? Fitch is just warning the country of impe ...
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These guys are living in a fool's paradise. Well, he that is down need fear no fall.
Pratt:"if we are to do this......if we are to stop that...blah blah" Why don't you do or stop it? Fitch is just warning the country of impending disaster, and you think it does not matter? Any right thinking person will take action to avoid the danger. What does Kwasi Pratt even know?
MENSAH 12 years ago

Ghana is still borrowing,importing and relies heavily and even solely,on CRUDE MATERIAL EXPORTATIONS.
When will your IFFFFF'S be materialized,is the question here.
As long as we do not process what we have,into at least,sem ...
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Ghana is still borrowing,importing and relies heavily and even solely,on CRUDE MATERIAL EXPORTATIONS.
When will your IFFFFF'S be materialized,is the question here.
As long as we do not process what we have,into at least,semi-processed goods for exports,your IFFFS'S STILL STAND IN LIMBO.
PRATT IS A JOKE,HERE.

wawa 12 years ago

We can assume now that the budget gap over 2013 will be equal to 2012: approx. 12%. Which means that 3.5-4% of GDP growth is financed with borrowed funds.

We can assume now that the budget gap over 2013 will be equal to 2012: approx. 12%. Which means that 3.5-4% of GDP growth is financed with borrowed funds.
Yaw Poku, USA 12 years ago

Yes that communist Kwasi Pratt, the Twerp nincompoop at his stupid best into any issue boarding on politics,medicine, economics,and name it except religion because he is a PAGAN.

Yes that communist Kwasi Pratt, the Twerp nincompoop at his stupid best into any issue boarding on politics,medicine, economics,and name it except religion because he is a PAGAN.
VIDA 12 years ago

this man is indeed so stupid, how can u not bother when ur credit rating is down indicating that ur economic conditions are worsening and so it will be relatively more difficult for u to repay loans given to u?..........this ...
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this man is indeed so stupid, how can u not bother when ur credit rating is down indicating that ur economic conditions are worsening and so it will be relatively more difficult for u to repay loans given to u?..........this man will always say what pleases his paymasters.....and ghanaians are allowing such empty hypocritical journlist as kwasi pratt to make national statements on issues WHEN TECHNOCRATS ABOUND IN GHANA TO SPEAK ON ISSUES....SHUT UR BIG IGNORANT MOUTH KWASI STUPID PRATT.
Kweku 12 years ago

SOMEONE SHOULD TELL KWESI PRATT THAT ONES'S CREDIT RATING DETERMINES THE RATE OF INTEREST THAT CREDITORS CHARGE IF ONE CONTRACTS A LOAN OR ANY CREDIT FACILITY. LOCAL LENDERS DONT USE CREDIT RATINGS IN OUR PART OF THE WORLD HE ...
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SOMEONE SHOULD TELL KWESI PRATT THAT ONES'S CREDIT RATING DETERMINES THE RATE OF INTEREST THAT CREDITORS CHARGE IF ONE CONTRACTS A LOAN OR ANY CREDIT FACILITY. LOCAL LENDERS DONT USE CREDIT RATINGS IN OUR PART OF THE WORLD HENCE KWESI'S IGNORANCE. HE SHOULD EDUCATE HIMSELF ON ISSUES HE DOES NOT KNOW OR UNDERSTAND BEFORE MISINFORMING HIS AUDIENCE.
PHILTY McNASTY 12 years ago

Stop typing in caps, it is an eye sore.

Stop typing in caps, it is an eye sore.
William Sorkpor, USA 12 years ago

The rating that an international credit rating agency,-- like Fitch -- gives a country is as important as the credit score that a credit bureau gives an individual consumer.

A low credit score makes it virtually impossibl ...
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The rating that an international credit rating agency,-- like Fitch -- gives a country is as important as the credit score that a credit bureau gives an individual consumer.

A low credit score makes it virtually impossible for an individual consumer to purchase big ticket items.

Any bank willing to take a chance on such a consumer, would only do that at a very high interest rate, because it considers the consumer a high risk.

By the same token a low credit rating from an international credit agency wards off potential investors from investing in our country: it tells potential investors that we are high risk.

Our bonds would not be considered investment grade. And because our bonds have "junk-bond" status, we shall be compelled to pay exorbitant interest rates on any amount of capital we shall be lucky to raise from the global financial markets.

The hidden danger in Fitch's adverse action against us is that, it reduces the value of our natural resources. In other words if no investor is willing to invest in our country, and we cannot get money to borrow to repair our roads and bridges; we shall be compelled to sell our commodities cheaper than they are actually worth, -- because we are desperate.

I believe that capitalism is managing debt. We need to be able to access the global financial markets to raise money at reasonable interest rates, in order to bring socio-economic development to our country, create jobs and wealth for our people.

No country,-- not even the United States -- is rich enough to pay for every development from out of pocket.

Our government must endeavor to have our good credit rating restored as soon as possible.

May Lord Almighty continue to bless our beloved Great Ghana: Amen!!!
K9 Lead Vendor 12 years ago

Capitalism is indeed 'managing debt', after a fashion. But don't forget that JP Morgan is just about to be fined USD 13 billion (yup, that's right) by the US Treasury for _mismanaging_ debt!

Capitalism is indeed 'managing debt', after a fashion. But don't forget that JP Morgan is just about to be fined USD 13 billion (yup, that's right) by the US Treasury for _mismanaging_ debt!
MENSAH 12 years ago

You've done an excellent job with your time,patience,knowledge and the care you have for Ghana,which even,our politicians do not.
God bless you too,for asking God's blessings on Ghana.

You've done an excellent job with your time,patience,knowledge and the care you have for Ghana,which even,our politicians do not.
God bless you too,for asking God's blessings on Ghana.
DAN 12 years ago

go buy a car or house with bad credit report..They will either laugh you out of office or allow you to pay fees for the application then turn you down!

go buy a car or house with bad credit report..They will either laugh you out of office or allow you to pay fees for the application then turn you down!
T.T 12 years ago

And the the indication is timely warning to Ghana...so important as to make the people responsible sit up. So shut up, Pratt.

And the the indication is timely warning to Ghana...so important as to make the people responsible sit up. So shut up, Pratt.

Ben 12 years ago

Kwesi Pratt as an editor and social commentator does not have to deal with borrowing from the international community or floating bonds to raise funds for the nation. He can sit there and yap all he wants and I wish the folks ...
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Kwesi Pratt as an editor and social commentator does not have to deal with borrowing from the international community or floating bonds to raise funds for the nation. He can sit there and yap all he wants and I wish the folks who work at the Ministry of Finance will educate him on the cost of doing business with a low credit rating. At least some of us know that if your credit is bad, you pay higher interest rate for every penny you borrow.
GhanaBA 12 years ago

Who the hell is Fitch? where was the so called Fitch when Ghana gained her independence? where were you when the CIA planned the assasination of Dr. Kwame Nkrumah? to hell with Fitch with their fucking grading!

Who the hell is Fitch? where was the so called Fitch when Ghana gained her independence? where were you when the CIA planned the assasination of Dr. Kwame Nkrumah? to hell with Fitch with their fucking grading!
KOO 12 years ago

No matter who the hell Fitch is,it has become very influential and many credit houses listen and accept its reports.What is happening is that Ghana will have problems accessing loans.GhanaBa go on the net and read about Fitch ...
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No matter who the hell Fitch is,it has become very influential and many credit houses listen and accept its reports.What is happening is that Ghana will have problems accessing loans.GhanaBa go on the net and read about Fitch.
fiifi 12 years ago

straight to the point KOO. The problem of GH is the unfortunate ascension to government,fools and people with absolutely no clue of how to govern. NDC is send GH to abject poverty.its a shame

straight to the point KOO. The problem of GH is the unfortunate ascension to government,fools and people with absolutely no clue of how to govern. NDC is send GH to abject poverty.its a shame
RastafaraI 12 years ago

ask mahama?

ask mahama?
Pelicles 12 years ago

You can say whatever about Fitch but in the end, the International agencies listen to them when granting loans to any government. Whatever Fitch says is meaningless if you do not contract any loan but if you do, whatever the ...
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You can say whatever about Fitch but in the end, the International agencies listen to them when granting loans to any government. Whatever Fitch says is meaningless if you do not contract any loan but if you do, whatever they say matters.
ALIMI YAO 12 years ago

.....and who the hell are you?

.....and who the hell are you?
oyinasky 12 years ago

This Kwesi Pratt has lost his marbles.

This Kwesi Pratt has lost his marbles.
RastafaraI 12 years ago

that is why ghana is having the problems it is having...semi-educated people making decisions and giving advise...this guy was in govt sometime ago.

that is why ghana is having the problems it is having...semi-educated people making decisions and giving advise...this guy was in govt sometime ago.
EZEKIEL 12 years ago

SO the report IS IMPORTANT afterall !!!!

SO the report IS IMPORTANT afterall !!!!

Daban 12 years ago

Bad governance, greed, naked bribery and corruption, square pegs in round holes etc , in short bad economic management are some of the problems facing our dear country.
Systematically grow the country and stop borrowing he ...
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Bad governance, greed, naked bribery and corruption, square pegs in round holes etc , in short bad economic management are some of the problems facing our dear country.
Systematically grow the country and stop borrowing here and there without taking into account how to repay these debts. Killing citizens with taxes and double taxations whilst so called foreign investors smile freely with little taxes , spoiling our environment are bad signs for Ghana.
Any country whose citizens are happy and contented within and the leaders take good steps in whatever step to move the country forward, such a country succeeds.
Let us build this country well and stop all these party propaganda as together we can do more..let us flush out all those bad nuts from our society too by being honest ....
Long live Ghana economically...Let there be no hardship...no heavy taxes...less burden on citizens...bridge the gap between the rich and the poor...free education...don't miss use oil money...use oil money to develop agriculture...no pollution...refine your own crude oil here in Ghana....don't follow blindly other African oil producing countries...let our leader be upright.
Abongo 12 years ago

Today Pratt, you made sense to me

Today Pratt, you made sense to me
Abigi 12 years ago

What sense is he making. you are in debt more than you can afford, so how do you produce what you need? Do you think just wishing what you want will materialize into economic activity? your understanding of economics is low a ...
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What sense is he making. you are in debt more than you can afford, so how do you produce what you need? Do you think just wishing what you want will materialize into economic activity? your understanding of economics is low and the reason Ghana is in this mess.
Whatever 12 years ago

If you don't work and yours hands are not productive, you would always borrow to eat and spend, putting your hands in the mouth of fitch and other butterfly organizations. That is why leaders have a duty to initiate policies ...
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If you don't work and yours hands are not productive, you would always borrow to eat and spend, putting your hands in the mouth of fitch and other butterfly organizations. That is why leaders have a duty to initiate policies to put the citizenry to work, to make them productive so that they will have money and pay taxes on it to the state, for the state to always have money and stop the lazy man's burdensome borrowing which will only deepen our misery and increase dejection of the endless paying poor population. You need your resources to put your people to work. This is so basic
ABENA 12 years ago

WHAT A DUMB ASS!! Why shouldn't the country be concerned if our credit is downgraded. we have to be very concerned and take steps to correct it.WASTE OF AIR TIME TO MAKE SUCH A STUPID UNINTELLIGENT REMARK!!

WHAT A DUMB ASS!! Why shouldn't the country be concerned if our credit is downgraded. we have to be very concerned and take steps to correct it.WASTE OF AIR TIME TO MAKE SUCH A STUPID UNINTELLIGENT REMARK!!
GOWAN 12 years ago

Mahama-Amissah Arthur administration, Akwasi"nkwan di waa"Pratt, said the Fitch report is not important, and most of your ministers, Terkper, Kwetey, Ofosu Kwakye, Murtala, etc,etc, all subscribe to this notion, so go on and ...
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Mahama-Amissah Arthur administration, Akwasi"nkwan di waa"Pratt, said the Fitch report is not important, and most of your ministers, Terkper, Kwetey, Ofosu Kwakye, Murtala, etc,etc, all subscribe to this notion, so go on and continue to borrow, and chop it, steal it, do whatever you want with it, after all that's what the "e de bee k3k3" better Ghana agenda is about, innit? What a brain dead, dimwitted bunch of inept and thieving rascals!!!!
SPIDER IN HIS WEB 12 years ago

The shameless NDC government has returned the country to the economics of the Acheampong era whereby the govt borrows heavily from foreign sources and then mortgages all exports over an extended period of time to pay for it. ...
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The shameless NDC government has returned the country to the economics of the Acheampong era whereby the govt borrows heavily from foreign sources and then mortgages all exports over an extended period of time to pay for it. Meanwhile, the borrowed money is not utilized for national development but goes into individual pockets. (Remember 'fa wo to begye Golf'?). We are reliving it all over again. The simple but sad truth about Ghana's economic condition is that at the moment we are not receiving any revenues from our exports, not even oil, the borrowed money is nowhere to be found and there is no financial planning. Soon enough, government is going to find it very hard to pay workers. So, for the Minister of Finance to assert that government is working to achieve its deficit target, however difficult, is not only disingenuous and false, but an attempt to cover up the wild, rampant corruption within the government, judgment debts GYEEDA etc. All this coming from a political party that prides itself of the principles of accountability, transparency and probity!!! Ghanaians, we are in for another long, bumpy ride.
Susubribi 12 years ago

I do not see what Pratt is talking about is well educated at all ? He should stop saying things as if he is talking his children and give respect look at his attire to address the media oh Ghana had gone back civilisation .

I do not see what Pratt is talking about is well educated at all ? He should stop saying things as if he is talking his children and give respect look at his attire to address the media oh Ghana had gone back civilisation .
Abigi 12 years ago

Kwasi Prattt's understanding of economics is way below a high school student. I now see why he reasons the way he does. Ghana is not an isolated place in the world and must interact with the rest of the world in commerce to s ...
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Kwasi Prattt's understanding of economics is way below a high school student. I now see why he reasons the way he does. Ghana is not an isolated place in the world and must interact with the rest of the world in commerce to survive. Kwasi Ghana does and cannot produce simple items like toothpick because of the likes of you IGNORANT FOOLS who hate business and personal wealth creation. It is the likes of you who have transformed Ghana into this mess, a nation of CONSUMERS and PAUPERS. To turn around and accuse Ghana to put its act together to produce goods and services needed by the citizenry is the most hypocritical statement ever made by you. Kwasi stop talking and start to think.
STONER KOBYLYNTON 12 years ago

Hei Abigi, Mr. Pratt have his followers who termed him as seasoned journalist. An Akan adage goes "Kuro a mmirika tu fuo nni mu no, se akyakya(afu) biara sore tene ne nam mu yese oye mmirika tu fuo". You have completely said ...
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Hei Abigi, Mr. Pratt have his followers who termed him as seasoned journalist. An Akan adage goes "Kuro a mmirika tu fuo nni mu no, se akyakya(afu) biara sore tene ne nam mu yese oye mmirika tu fuo". You have completely said it in your write-up. By the way does he think that all the imported goods seen in the market comes from the government's earned hard currency? Kwesi, you are totally wrong. Not until the Government establishes friendly business environment, no present entreprenuer will expand and there will be zero new entrants and the country will be desolate with no jobs . I bet you with Mr. Terkper as the Finance Minister whose sole area of competency is taxation, forget job creation. Since he mounted on the Finance seat, has he ever talked about job creation? Absolutely zero.

The point people like Mr Pratt don't vision or see to drum upon is corruption and mismanagement. Ghana - a country of 25 million people with such vast natural resources and cannot use it to alleviate the hardship of the folks is unbelievable. If we are going to get leaders like late Mills and Mahama's sort then forget it. My prediction is that next year by this time the official rate for US$1.00 will be exchange for GHC2.50. Na wow oo oga!.
Kwaame 12 years ago

Nincompoop, wait till go venture for another loan. Ghana's cost of debt will rise and all our earnings will go into servicing debt and paying for the perks and salaries of our civil bosses. Pratt you are very ignorant.

Nincompoop, wait till go venture for another loan. Ghana's cost of debt will rise and all our earnings will go into servicing debt and paying for the perks and salaries of our civil bosses. Pratt you are very ignorant.
Sankofa 12 years ago

We can maximise our income from our natural resources if we exploit these resources ourselves instead of relying on foreigners to do so.

The biggest impediment to our national development is the foreign control of our econ ...
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We can maximise our income from our natural resources if we exploit these resources ourselves instead of relying on foreigners to do so.

The biggest impediment to our national development is the foreign control of our economy. Foreign interests make massive profits from our resources to our detriment.

We must change the status quo, or continue to wallow in poverty.
Ghana 12 years ago

How can you stop relying on skilled hardworking foreigners ? You don’t have the expertice and it will take 50-100 years before you will get your act together. Lazy, uneducated and corrupt people without a vision is running ...
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How can you stop relying on skilled hardworking foreigners ? You don’t have the expertice and it will take 50-100 years before you will get your act together. Lazy, uneducated and corrupt people without a vision is running Ghana now.

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Fitch report not important - Pratt

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