Ghana's budget battles weighing on cedi debt as inflation soars

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• K Man 11 years ago

  The lack of foresight and strategic thinking in Ghana by this and past governments has been truly appalling.
  
  For how many years have we not known that importing goods (we even import tomatoes!!!!)and not producing goods fo ...
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  The lack of foresight and strategic thinking in Ghana by this and past governments has been truly appalling.
  
  For how many years have we not known that importing goods (we even import tomatoes!!!!)and not producing goods for export would undermine the currency and economy, but yet still proceeded with short term gains rather than building long term capabilities.
  
  How can a country where credit is so expensive and hard to access expect to see growth in jobs (and tax revenues)and the economy when those small/medium businesses (which are the lifeblood of economic growth)have their business' killed by financial constraints before they ever have a chance to grow....not to mention the corruption hindering the development of business.
  
  But of course, Ghanaians especially the media have rather played politics than champion what is best for Ghana...now people stand around and are "crying" over Ghana's economy but expect things to change when the attitude of politicians, the media and Ghanaians is first and foremost about party first and Ghana somewhere...way behind.
  
  We DESERVE what we get.

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• Mankind 11 years ago

  If interest rate Of is BoG 18-19% now, and will go to 22% by the end of the quarter; how much will business pay?? 28-33%??
  Eii, Terkper! What is going on?? The economy is about to crash!!

  If interest rate Of is BoG 18-19% now, and will go to 22% by the end of the quarter; how much will business pay?? 28-33%??
  Eii, Terkper! What is going on?? The economy is about to crash!!

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• Alex Kojo Sammy-Paris 11 years ago

  Ok dakoo Mr,;nd.....from Samms!..

  Ok dakoo Mr,;nd.....from Samms!..

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• Obrefo 11 years ago

  Whatever they do the cedi will get more weak because our economy is import driven; we're practically manufacturing anything. Our exports are mainly raw materials. We're not adding any value to our raw materials. The sales of ...
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  Whatever they do the cedi will get more weak because our economy is import driven; we're practically manufacturing anything. Our exports are mainly raw materials. We're not adding any value to our raw materials. The sales of these raw materials are not bring enough foriegn exchange to cancel out our import cost. The masive government borrowing, cedis and foriegn currencies to suppliment the revenue short fall is not helping either. We have to service these debts on a monthly basis which takes away the much needed funds to run our nation.
  
  All these factors compounded are fueling high interest rate and high rate and demand for T-Bills. Businessmen are squeezed out of the borrowing market to expand their business.
  
  Stealing and corruption by government officials, top government workers, government appointees and politicians are adding to the problem too. Inflated expenditure, "quid pro quo" deals, CREAT, LOOT and SHARE deals compounding with revenue leakages are shrinking funds available to run the business of Ghana.
  
  We need leaders with big balls who can address these issues to put Ghana on the right path. We're a nation of jokers, thieves, criminals, liars, hypocrires, sycophants, pretenders; we just don't want to accept and face the truth and the facts period.

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• ADANKO 11 years ago

  to find out if mahama or tekper know where we are heading to????? We are FINISHED!

  to find out if mahama or tekper know where we are heading to????? We are FINISHED!

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• Mr. Questions 11 years ago

  Where is the revenue going to come from ?
  
  Has Mahama agreed to return all the STOLEN GOODS ?

  Where is the revenue going to come from ?
  
  Has Mahama agreed to return all the STOLEN GOODS ?

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• Akwasi Mati 11 years ago

  It is so sad of all talks and arguments on radio none has been centered on the budget and how bad the rubber stamp parliament has failed this country. It is plain simple the ndc gov't must sack all his economic team in order ...
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  It is so sad of all talks and arguments on radio none has been centered on the budget and how bad the rubber stamp parliament has failed this country. It is plain simple the ndc gov't must sack all his economic team in order to move this country forward economically. The borrow-tax-spend has run out steam and as a matter of fact has flat tyres.

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• KWAA 11 years ago

  Fact is all the NDC was interested in,was to stay in power,there didn't care about the economy.
  They spent 8.7Billion Cedis in the last quarter of 2012,sharing money among voters as if the World was going to end at the end o ...
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  Fact is all the NDC was interested in,was to stay in power,there didn't care about the economy.
  They spent 8.7Billion Cedis in the last quarter of 2012,sharing money among voters as if the World was going to end at the end of 2012.
  Poor Ghanaians they thought taking that money NDC was giving out will end their hardship,now we are all paying the bills.
  The people who bought the votes and are now Ministers and Government appointees are not feeling the pains,they are living on the little money left in the Government chest.
  At the end of the day it is you and me,the normal Ghanaian who must pay through increment in taxes.
  It may take Ghana about 100 years to balance our budget if things continue like this.

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