Gov’t to seek help from IMF to stabilize economy

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• BANDAHENE 11 years ago

  NDC is eating the humble pie. Everything the PNDC/NDC sought to condemn will eventually be the cornerstone of their program. One of the reasons the PNDC sites for the overthrow of Liman regime was because the PNP administrati ...
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  NDC is eating the humble pie. Everything the PNDC/NDC sought to condemn will eventually be the cornerstone of their program. One of the reasons the PNDC sites for the overthrow of Liman regime was because the PNP administration was in bed with the Bretton Wood Institutions. Yet in less than Three years of PNDC, they finally had to go to the IMF which consequently led to the removal of subsidies on health, fertilizer etc.
  When the NDC took over in 2009, they proceeded with profligate borrowing and spending which Dr Anthony Osei Akoto warned them about and predicted that GH could go HIPC again;Today we are finally there. IMF here we come. Clueless President Promise And Fail Mahama can never deliver anything Good for mother GH
  NDC are always looking for scapegoats to shelve their non performance. It is wierd these days when suddenly they have turn round to blame the current economic challenges to redenomination after seven years of its introduction and six years of NDC rule. I want to remind the NDC that no less a person other than Prez Promise And Fail Mahama defended the redenomination in 2007 and even sited the redenomination of the Turkish Lira to support it.
  There is virtually not a single prediction that the economists of NPP have said about this economy that has not come to pass. For me it is an overwhelming proof that the NPP hold the key to our economic salvation which they have already abundantly demonstrated when they were in Power from 2001-2008

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• Noah 11 years ago

  Liar.

  Liar.

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• Addo Nyanyo 11 years ago

  ALTERNATIVE SOURCES OF
  RESOURCE MOBILIZATION
  
  The analysis and discussions of IMF conditionalities and benchmarks since 1966 reveals that the Fund stabilization and growth programmes have only been achieved by
  cutting ...
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  ALTERNATIVE SOURCES OF
  RESOURCE MOBILIZATION
  
  The analysis and discussions of IMF conditionalities and benchmarks since 1966 reveals that the Fund stabilization and growth programmes have only been achieved by
  cutting back on public expenditure (instead of looking for other avenues to mobilize
  resources). anytime the Ghanaian economy faces some difficulties, political leaders quickly
  approach the IMF for assistance. It thus appears that without IMF assistance, the
  Ghanaian economy cannot achieve any meaningful sustainable growth and stability.
  Does this hypothesis hold true? other sources of domestic resource mobilization and argues that the government of Ghana can increase revenue generation from the mining sector, increasing financial transparency and monitoring of
  multinational companies through training and institutional strengthening, and embarking
  on a more progressive tax system.
  INCREASE REVENUE GENERATION FROM THE EXTRACTIVE SECTOR
  While taxation allows the government to collect revenue to spend on agreed national and local development plans and help in the redistribution of revenue to achieve more
  equitable development, mining taxation in Ghana has emphasized influencing and encouraging mining companies to invest in the extractive sectors with less focus on generating revenue for development.Available data indicates that Ghana loses revenue from the extractive sector in four main ways:
  • lower tax rates and tax exemptions,
  • negotiation of tax breaks in mining contracts by mining firms,
  • manipulation of tax base allowances by mining firms,
  • Tax avoidance and mis-invoicing and tax evasion by mining firms.

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• Jay Rogue Ray Ram Liar 11 years ago

  IMF is a lending institution and not a stabilizer of under-performing economies even though its preamble is to help poor countries to expand their economies. As a lending institution, its main interest is to receive its loan ...
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  IMF is a lending institution and not a stabilizer of under-performing economies even though its preamble is to help poor countries to expand their economies. As a lending institution, its main interest is to receive its loan with interest when it is due. Therefore, its policies on structural adjustment are geared towards repayment and not on the expansion of the borrowers economy. Suspension of roads and highways will not expand the economy. Price increases without corresponding increase in incomes will only burden the poor Ghanaian and make his life harder and cannot expand the economy either. When people cannot earn a living wage removal of subsidies deteriorates their standard of living. It time for Ghanaians to develop the country according to their standards. Encourage local industries, adopt tax policies to be competitive and to attract investors. Set beneficial priorities. Make government establishment productive. Seal corruption and hold government and its officials accountable etc.

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• Expert 11 years ago

  Ask yourself... This situation is a lot worse than 99.9% of Ghanaians can imagine.

  Ask yourself... This situation is a lot worse than 99.9% of Ghanaians can imagine.

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• Ameyaw 11 years ago

  An economy growing at an average of about 6% p.a. for the past six years seeking baill-out? This can only be as a result of the monecracy that occured in 2012 as a result of one man's quest to be a president at all cost. Few ...
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  An economy growing at an average of about 6% p.a. for the past six years seeking baill-out? This can only be as a result of the monecracy that occured in 2012 as a result of one man's quest to be a president at all cost. Few people are now enjoying and about 25million Ghanaians are now going to suffer under harsh IMF economic prescriptions.

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• crorkz matz 11 years ago

  2XoXs0 Thanks for the blog.Much thanks again. Will read on...

  2XoXs0 Thanks for the blog.Much thanks again. Will read on...

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