Analysis: Why a bailout would be bad

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• Opia 11 years ago

  This article is very surprising. The IMF has not begged Ghana to go to it for a bailout. Like any lender including domestic lenders, your books and affairs would be examined before any loan is granted to you because the lende ...
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  This article is very surprising. The IMF has not begged Ghana to go to it for a bailout. Like any lender including domestic lenders, your books and affairs would be examined before any loan is granted to you because the lender must be sure you can repay the debt. If we still have inefficient state institutions, including the VRA etc, and definitely the yet to be established national airline, should any institution simply give you a loan that will be thrown into a bottomless pit of inefficiency? Just look at how we have wasted national resources on the World Cup, by sending undeserving supporters to Brazil. Did the advanced countries such as UK, USA etc sponsor supporters to the games? We are totally incapable of self accounting and somebody must hold the mark to us. If we do go to the IMF, I fully support that they insist on good economic management from us

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• The African Patriot 11 years ago

  I don't see any surprising in it. It is the system that will direct or force you to seek for the bailout. But still our leaders must be blamed for this. We need a complete revolution in Ghana or else we will never free our ou ...
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  I don't see any surprising in it. It is the system that will direct or force you to seek for the bailout. But still our leaders must be blamed for this. We need a complete revolution in Ghana or else we will never free our ourselves from dependency.

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• PETER KWADWO OWUSU 11 years ago

  Yes, I’m glad today for reading such a beautiful article from an intelligent person who wrote this article.
  Hope all Ghanaian intellectuals will learn from him.
  God bless the writer and God bless the nation called Ghana.
  ...
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  Yes, I’m glad today for reading such a beautiful article from an intelligent person who wrote this article.
  Hope all Ghanaian intellectuals will learn from him.
  God bless the writer and God bless the nation called Ghana.
  Peter Kwadwo Owusu

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• ofosu dankyi 11 years ago

  you are painting the imf bailout as a suicide, but it is a way for the govt. to restructure itself.There are many instutions run by the govt which people always take advantage to make money. it time the got give up some of he ...
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  you are painting the imf bailout as a suicide, but it is a way for the govt. to restructure itself.There are many instutions run by the govt which people always take advantage to make money. it time the got give up some of hese institutions. Bank, industries ,and any company run by the govt. its a good idea the IMF come in and put things right.

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• Kaiser 11 years ago

  This article is a heap of rubbish. Why should Ghanaians blame the World Bank/IMF instead of their own government for causing the mess in the first place. IMF didn't invite Ghana it is the Ghana government that invited them. W ...
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  This article is a heap of rubbish. Why should Ghanaians blame the World Bank/IMF instead of their own government for causing the mess in the first place. IMF didn't invite Ghana it is the Ghana government that invited them. What do think they should do? Throw milk and honey on the streets?

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• DR KWAME OSEI - MODERN GHANA.COM 11 years ago

  Kaiser - se we gyimi paa - if you re-call but if you don't let me teach you a history lesson one you did not read what i said about Greece, Spain, Ireland and Portugal who have all taken IMF money - it has crippled thier econ ...
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  Kaiser - se we gyimi paa - if you re-call but if you don't let me teach you a history lesson one you did not read what i said about Greece, Spain, Ireland and Portugal who have all taken IMF money - it has crippled thier economies as a result of austerity measures that are causing great hardships i Europe including food banks - in Ghana the IMF told Rawlings in the 1980's to close or privatise all the indusries that kwame Nkrumah had built like city hotel, star hotel, nsawan cannery, jute factory, sugar factory, bonsa tyre factory, abosso glass factory etc and this led to the massive unemployment including youth unemplyment we see in Ghana today - if the IMF had not told Rawlings to sell/privatise those industries there would be no youth unemployment in ghana as these youth would have worked in those factories that he closed - so the IMF are wicked devils - also do you know who really owns the IMF/World Bank??? No you don't - i suggest you go do some serious study before criticising me

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• John 11 years ago

  The World Bank - IMF is owned and controlled by NM Rothschild and 30
  to 40 of the wealthiest people in the world.. For over 150 years they
  have planned to take the world over through money. The former chief
  economist of th ...
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  The World Bank - IMF is owned and controlled by NM Rothschild and 30
  to 40 of the wealthiest people in the world.. For over 150 years they
  have planned to take the world over through money. The former chief
  economist of the World Bank, Joe Stiglitz, was fired recently. He
  pointed out to top executives that every country the IMF/World Bank
  got involved in ended up with a crashed economy, a destroyed
  government, and sometimes in flames with riots. Jim Wolfensen, the
  president of the World Bank would not comment on his dismissal.
  
  Before Joe Stiglitz was fired he took a large stack of secret
  documents out of the World Bank.
  
  These secret documents from the World
  Bank and the International Monetary Fund reveal that the IMF required
  nations:
  
  1. to sign secret agreements of 111 items
  
  2. in which they agreed to sell off their key assets - water,
  electric, gas, etc.
  
  3. in which they agreed to take economic steps which are really
  devastating to the nations involved
  
  4. in which they pay off the politicians billions of dollars to Swiss bank accounts to do this transfer of a countries fixed assets.
  
  If they do not agree to these steps they are cut-off from all
  international borrowing. Today if can't borrow money in the
  international marketplace, no one can survive, whether you are people
  or corporations or countries. If that does not work they overthrow the
  government and plant lies about the former government and/or even
  rewrite history.

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• John 11 years ago

  Today US Treassury owns 51 % of the World Bank-IMF.
  
  Greetings from a guy in a north-European country. I visited Ghana in 2012.
  
  I think Ghana should not go to the IMF. You can do the reforms without taking loans from IMF ...
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  Today US Treassury owns 51 % of the World Bank-IMF.
  
  Greetings from a guy in a north-European country. I visited Ghana in 2012.
  
  I think Ghana should not go to the IMF. You can do the reforms without taking loans from IMF.
  
  A falling Cedi is good news for anyone in Ghana who would manufacture producs for exports.

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