Prudent spending critical - Acting BoG governor

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• SAMAX 9 years ago

  So you knew all these fine measures and sat behind the man doing what? Did you help him to fail so you bring on board your ideas? hhhhhhmmmmmmmm

  So you knew all these fine measures and sat behind the man doing what? Did you help him to fail so you bring on board your ideas? hhhhhhmmmmmmmm

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• Brian Williams 9 years ago

  Restructure the tax base so as to attract foreign investors for massive industrialization; to add value to the abundant raw materials the country is blessed with. It will help create jobs and raise the standard of living. The ...
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  Restructure the tax base so as to attract foreign investors for massive industrialization; to add value to the abundant raw materials the country is blessed with. It will help create jobs and raise the standard of living. The government must stop the mind set of borrowing for development, without thinking about the cost of that capital which has hurt the credit worthiness of the country. At the moment the country is certainly BANKRUPT.

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• Kwabena Yeboah 9 years ago

  The best statement I have ever heard from the governor of BoG is what Mr. Narh has just said; i.e, the realignment of monetary and fiscal policies in the country. This is very critical in every aspect of the economy.
  
  Whe ...
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  The best statement I have ever heard from the governor of BoG is what Mr. Narh has just said; i.e, the realignment of monetary and fiscal policies in the country. This is very critical in every aspect of the economy.
  
  Whereas BoG is mandated by the constitution to provide effective monetary policy, that is use all available tools to stabilize the cedi, the fiscal policy which the government controls is always in conflict with BoG's monetary policy. Without harmonizing both monetary and fiscal policies in the economy, inflation and high unemployment would continue to paralyze the economy, and the cedi will continue to face bouts of instability.
  
  Restructuring (widening) the tax base is essentially the basis of fiscal policy. But the government has never shown interest in broadening the tax base to bring into alignment with BoG's monetary policy. Instead, they go out and borrow because that seems to be the easy proposition politically than putting in the work to broaden the tax base. There many corporations presently in Ghana that enjoy tax holidays, and about 50% Ghanaians do not pay taxes according to the World Bank.
  
  How can any modern government run an effective fiscal policy knowing very well that 50% of its citizens do not pay taxes? How can the BoG run an effective monetary policy knowing very well that the government of the day does not adhere to any economic principles - there is always double digits inflation after every election because the incumbent does not care but would spend any amounts necessary to get reelected. Unfortunately, that is the nature of African governments. They have no clue how the economy works.

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• Kwabena Asante 9 years ago

  We in the opposition parties wish you the best for mother GHANA. We hope you will do only what is right to restore the ailing economy of this nation, and not to listen to the suckers in the ruling party, the NDC.
  May GOD ble ...
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  We in the opposition parties wish you the best for mother GHANA. We hope you will do only what is right to restore the ailing economy of this nation, and not to listen to the suckers in the ruling party, the NDC.
  May GOD bless you. Amen

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