High Lending Rates: The banks are not to blame

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• GHFUO, change ur thinking 12 years ago

  FASTFOOD REVENUE
  Story: How to Kill a Wolf/GHANA - (Eskimo Style)..HIPC STUNTING OUR GROWTH
  Up in the arctic circle there is tribe of Eskimo's(IMF, WESTERN DONORS, BANKS) who have learned to set
  a very simple yet effective ...
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  FASTFOOD REVENUE
  Story: How to Kill a Wolf/GHANA - (Eskimo Style)..HIPC STUNTING OUR GROWTH
  Up in the arctic circle there is tribe of Eskimo's(IMF, WESTERN DONORS, BANKS) who have learned to set
  a very simple yet effective trap for wolves (GHANA/MAHAMA). First they sharpen a knife
  razor sharp. Then they dip it in the blood of a seal they have killed.
  (you see seals are fairly easy to trap but wolves are very dangerous).
  After dipping the knife in blood they set it outside in the cold so the
  blood freezes on the knife. After if freezes (a matter of minutes) they
  dip it again into the seal blood and again take it out an let the blood
  freeze. Layer after layer they make a blood popsicle. When they are done,
  the knife's blade is hidden inside just like a popsicle stick. Now they
  take the knife out into the wilderness where they think a wolf might be.
  There the bury the handle of the knife in the snow leaving the blood
  popsicle standing up and they leave.
  
  Now after a while a wolf(GHANA/MAHAMA) will come along guided by his sense of smell(GREED) and
  find the "bloodsicle". He will being licking it, enjoying every taste.
  Over and over he licks the knife and soon his tongue is so cold he cannot
  feel it any longer. It's numb. But his taste for blood is growing and he
  is not getting as much as he wants - you see, popsicles are slow eating.
  Finally his licking exposes the razor sharp edge of the knife. It cuts
  into his tongue again and again but he does not even notice for his tongue
  can no longer feel anything. The wolfs own blood now flows from his cut
  tongue. The wolf is thrilled, blood is now more plentiful and he continues
  to lick more and more.
  
  Soon he notices something is wrong, he is getting weaker not stronger.
  Since he knows blood as food he increases his efforts to feed on the ever
  increasing flow of blood. His last thoughts are of how good the now warm
  blood tastes. Within minutes he licks his last and collapse next to the
  now fully exposed knife. Here the Eskimo(IMF, WESTERN DONORS, BANKS) knows he will find the wolfs(GHANA/MAHAMA)
  DEAD body the next morning.
  ABROKYIR = Dilusions of Grandeur

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• DAN 12 years ago

  interest rate in usa is 3.88% on 30 year home loan,5% on car for 6 years and 8-15% on credit cards(www.bankrate.com) Why do you think Nigerian and now South African banks are rushing to Ghana to profit????? Because the Bank o ...
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  interest rate in usa is 3.88% on 30 year home loan,5% on car for 6 years and 8-15% on credit cards(www.bankrate.com) Why do you think Nigerian and now South African banks are rushing to Ghana to profit????? Because the Bank of Ghana allows them to profit huge! You can bet they are lobbyist(bribes/kickbacks) coming from the banks to pay MP to vote for rate hikes and stall rate reduction

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• Azaato 12 years ago

  You haven't even mentioned the currrent borrowing rate, but 20 per cent borrowing rate is still far too much. One major problem in Ghana is that small and medium enterprises which are the engine of growth and employment are s ...
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  You haven't even mentioned the currrent borrowing rate, but 20 per cent borrowing rate is still far too much. One major problem in Ghana is that small and medium enterprises which are the engine of growth and employment are starved of cash because of the high cost borrowing yet policy makers are blind to this

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• DEE 12 years ago

  I WILL RATHER TAKE MONEY FROM OUTSIDE GHANA.THE BANKS AND GOVENMENT ARE GREEDY THAT IS WHY WE ARE SUFFERING

  I WILL RATHER TAKE MONEY FROM OUTSIDE GHANA.THE BANKS AND GOVENMENT ARE GREEDY THAT IS WHY WE ARE SUFFERING

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• DAN 12 years ago

  3.88% for 30 year home loan, 5% from chevy or ford to buy their cars/trucks for 5-6 years(.0%-2%) on 3-4 years and 8-15% on the evil credit cars..Only savings accounts suffer in usa (.25% or .54% on time deposit)...These bank ...
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  3.88% for 30 year home loan, 5% from chevy or ford to buy their cars/trucks for 5-6 years(.0%-2%) on 3-4 years and 8-15% on the evil credit cars..Only savings accounts suffer in usa (.25% or .54% on time deposit)...These banks could even be profiting by borrowing money in usa at 1% and loaning in Ghana at 25%!!!!

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• David Deb 12 years ago

  I like this article, but will the gov't listen. High interest rate have already killed alot of business ideas of Ghanaians

  I like this article, but will the gov't listen. High interest rate have already killed alot of business ideas of Ghanaians

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• Cornell 12 years ago

  Well written and informative. My only concern is your suggestion that the BoG pegs deposit rate around 2% above treasury rate to force lending rate down. In a developed world, the central banks can mandate such policy, but t ...
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  Well written and informative. My only concern is your suggestion that the BoG pegs deposit rate around 2% above treasury rate to force lending rate down. In a developed world, the central banks can mandate such policy, but the same cannot be said in a defragmented economy like ours. Furthermore, rates are determined by a number of factors such as prevailing bond rates, aggregate demand, money supply, inflation and finally inherent risk associated with the borrowing public. If our policy makers wish to achieve accommodative monetary system to assist small and medium businesses then fiscal and structural issues needs to be addressed both in short and long-term.

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