Let's The Cedi Depreciate, It's Good For Ghana

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Aziz 11 years ago

Fifi Kwertey is flavour light in Economics and cannot be called an Economist when his understanding of Economics is not beyound a jssgraduate.

Fifi Kwertey is flavour light in Economics and cannot be called an Economist when his understanding of Economics is not beyound a jssgraduate.
ILLITERATE JUSTICE SARPONG 11 years ago

You have taken Fiifi's assertion to mean something else and which is beyond your coconut.

In fact this illiterate sarpong has proven his illiteracy with the biggest stamp on it.

It is only this idiot Sarpong who does no ...
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You have taken Fiifi's assertion to mean something else and which is beyond your coconut.

In fact this illiterate sarpong has proven his illiteracy with the biggest stamp on it.

It is only this idiot Sarpong who does not know that Fiifi's assertion was meant to be a wake up call for Ghanaians to focus on exporting more, diversify the export sector to lessen the trade deficit which currently stands at around 20-billion dollars.

It is again this idiot Sarpong who has not read that by 2017, Ghana's export is expected to increase from 2-billion dollars to 5-billion dollars.

And so I really know that a fool like Sarpong who can't different between devaluation and depreciation of a currency will also not get the meaning of Fiifi's statement.

But I will not be too hard on this illiterate as he just a novice when we Speak 'ECONOMICS'.
TEACHER 11 years ago

"Can't different between"

IS THAT ENGLISGL .

Trade deficit is 20 billion? Do you know what GDP is? How do you get a trade deficit of 20 billion when you import less than 10 billion and export close to $5 billion?

O ...
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"Can't different between"

IS THAT ENGLISGL .

Trade deficit is 20 billion? Do you know what GDP is? How do you get a trade deficit of 20 billion when you import less than 10 billion and export close to $5 billion?

Our export is expected to increase to 5 billion in 2017?

You have no clue of what you are saying. Our gold export is over two billion. Cocoa is over 1.5 billion. Oil export is close to 700 million Others like timber, diamonds, bauxite are over half a billion, are you illiterate counting?

Who told you illiterate our export is 2 billion?

Your grammar is not good and you have no clue about economics.

Now quote and paste here where it shows Sarpong don't know the difference between devaluation and depreciation.

Do your watchman's job and let the Experts do this. Go and sit down and be quiet.
Mahmoud 11 years ago

While some deists accepted revelation, most argued that revelation's restriction to small groups or even a single person limited its explanatory power. Moreover, many found the Christian revelations in particular to be contra ...
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While some deists accepted revelation, most argued that revelation's restriction to small groups or even a single person limited its explanatory power. Moreover, many found the Christian revelations in particular to be contradictory and irreconcilable. According to these writers, revelation could reinforce the evidence for God's existence already apparent in the natural world, but more often it led to superstition among the masses. Most deists argued that priests had deliberately corrupted Christianity for their own gain by promoting the acceptance of miracles, unnecessary rituals, and illogical and dangerous doctrines (these accusations were typically referred to as "priestcraft"). The worst of these doctrines was original sin. By convincing people that they required a priest's help to overcome their innate sinfulness, deists argued, religious leaders had enslaved the human population. Deists therefore typically viewed themselves as intellectual liberators.[2]

Paine also argues that the Old Testament must be false because it depicts a tyrannical God. The "history of wickedness" pervading the Old Testament convinced Paine that it was simply another set of human-authored myths.[23] He deplores people's credulity: "Brought up in habits of superstition," he wrote, "people in general know not how much wickedness there is in this pretended word of God." Citing Numbers 31:13–47 as an example, in which Moses orders the slaughter of thousands of boys and women, and sanctions the rape of thousands of girls, at God's behest,[24] Paine calls the Bible a "book of lies, wickedness, and blasphemy; for what can be greater blasphemy than to ascribe the wickedness of man to the orders of the Almighty!"[25]
insight to the bone 11 years ago

As the days go by more and more people wake up to the reality of the ndc anti Akan hate agenda and their deep rooted corrupt dark souls of evil .This was first initiated by the Ewes and through Mahama and his brothers being c ...
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As the days go by more and more people wake up to the reality of the ndc anti Akan hate agenda and their deep rooted corrupt dark souls of evil .This was first initiated by the Ewes and through Mahama and his brothers being championed today by the northerners. We see in Iraq/Syria the announce of the Islamic caliphate state and their map which now includes Ghana and the whole of West Africa .Most people are ignorant of the fact that unlike in Christianity and other religions whereby the leaders or priests are men of peace in Islam their imams or priests advocate for war and destruction of the non believers and when war starts every single one of them assumes the title emir and becomes the captain of a murderous horde as we saw in Libya and with the boko haram. The mosque is not only a place of worship but an army fortress or barracks and that is why they must in the design in every area which is not predominately Muslim its required to have a tall reconnaissance tower. we see in Accra and other places these mosques spring up all over the place at militarily very strategic positions but we are vigilant and when our bloody revolution starts we will raze all these structures to the ground and drive out this menace from our midst . There are some brainwashed idiotic fools who still believe mahama has good intentions but don't know he is a Muslim disguised as a christian which Islam allows and his only agenda is to weaken with corruption and destroy with negligence the Akan economy so the caliphate can be achieved that is why no project of strategic importance can see the light of day under his watch.As for the Ewes his partners in crime all i can say is have you ever wondered why when you go to Togo there the Ewes are very nice people and true African brothers but the moment you cross the Aflao border into Ghana the ayigbe wickedness , hate and evil starts? The ewes in Togo know these ayigbe are so bad and useless that they are not interested in reuniting with them but would rather throw them all into the sea. We should find a way to trick them into taking them back as we Akans will definitely be better off without this foolish idiotic people. Mahama and his brothers have stolen so much that even the bank of Ghana admits they dont know where our foreign reserves have disappeared to , i can tell you where , Turkey , Iran, Dubai and other Muslim countries where its safe for them. Congrats to Kumasi for hitting the nail on the head and exposing the discrimination and abuse of the civil/human rights with the WHAT HAVE WE DONE TO YOU demonstration , today we see idiots and saboteurs trying turn it into a question of mere economics , even one idiot woman came out with a humiliating brainless idea to go naked just to deflect from the main core issue of discrimination against the Akans. My people we have only one problem and if that's solved the rest will be easy , the problem is discrimination and the Anti Akan agenda of part of this mafia ndc . its never about npp , ndc ,left or right wing ideology politics but simply pepeni/ayigbe tribalism against Akan nationalist evolution. They are only attracted to ideas that only destroy our economy like this EPA paramount foolishness with the Europeans or giving away our gold fields to foreigners who never invest here in the name of prudent business , end result our people are exploited and made poorer. we shall never surrender or be fooled again. While we were thinking of a better Ghana for ALL citizens they were thinking of only themselves and destroying the future for our children . We need to have our revolution and secede to form our own state as they will never change.
Ernest 11 years ago

high utility bills, taxes and misplaced priority how can these company start business or continue to be in business. CHINA can gain massively in such situations because they have cheap labour, very moderate utility bills, go ...
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high utility bills, taxes and misplaced priority how can these company start business or continue to be in business. CHINA can gain massively in such situations because they have cheap labour, very moderate utility bills, good policies that support companies and right leaders. so come again!!!
Mawusi 11 years ago

why do we have such USE.LESS people still in office. The Govt. is collapsing industries with their taxes and misplaced priority, so how does he expect these companies to produce and export to break-even. Common Sense is not o ...
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why do we have such USE.LESS people still in office. The Govt. is collapsing industries with their taxes and misplaced priority, so how does he expect these companies to produce and export to break-even. Common Sense is not on the market!!!!
Kojo T 11 years ago

Must you make fools of yourselves just because sarpong is NPP No wonder the country cannot move forward . You buy goods that are cheap , so if imported goods are expensive you wil buy the cheaper local ones Period . Shame on ...
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Must you make fools of yourselves just because sarpong is NPP No wonder the country cannot move forward . You buy goods that are cheap , so if imported goods are expensive you wil buy the cheaper local ones Period . Shame on sarpong
SARPONG 11 years ago

Fuck off, you illiterate fool, what do you know about Economics. Just read over your class one comment.

Fuck off, you illiterate fool, what do you know about Economics. Just read over your class one comment.
Kojo T, the Idiot 11 years ago

Kojo T how old do you think you are? I guess 15 years but then the question is, why at the age of 15 having an I.Q. of 3%?

Kojo T how old do you think you are? I guess 15 years but then the question is, why at the age of 15 having an I.Q. of 3%?

ll 11 years ago

ss

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Dede 11 years ago

massa, u are so right, he knows nothing

massa, u are so right, he knows nothing
Tony 11 years ago

AND THEY CALL THEMSELVES ECONOMISTS. ECONOMISTS INDEED. YOU SEE, WHEN YOU HAVE SUCH ILLITERATE ECONOMISTS MANAGING YOUR ECONOMICS, THIS IS WHAT HAPPENS. IN FACT, UNTIL THE LIKES OF FIIFI KWETES AND THE NDC TERM IS OVER, YEEWU ...
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AND THEY CALL THEMSELVES ECONOMISTS. ECONOMISTS INDEED. YOU SEE, WHEN YOU HAVE SUCH ILLITERATE ECONOMISTS MANAGING YOUR ECONOMICS, THIS IS WHAT HAPPENS. IN FACT, UNTIL THE LIKES OF FIIFI KWETES AND THE NDC TERM IS OVER, YEEWU!!!!!
Kpenyigba Kwesi 11 years ago

It seems that Dr Justice Sarpong always challenges Fifi Kwetey on economic issues. I must say (I had said it before) that the devaluation of the cedis is a blessing for Ghana providing we promote exports and considerably redu ...
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It seems that Dr Justice Sarpong always challenges Fifi Kwetey on economic issues. I must say (I had said it before) that the devaluation of the cedis is a blessing for Ghana providing we promote exports and considerably reduce our imports. We have lots to export but we do not promote adequately exportation. Fifi is very clear and says clever things.
Andrew 11 years ago

At this particular time, we don't have anything to export and it is not about promoting exports which we all know is good. For Kwetey to say the depreciation of the cedi is a blessing exposes his scholarship. Kwetey is really ...
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At this particular time, we don't have anything to export and it is not about promoting exports which we all know is good. For Kwetey to say the depreciation of the cedi is a blessing exposes his scholarship. Kwetey is really wrong

You are wrong to say Kwetey is right. Your support of him seems to be based solely on tribal siege mentality.
Nana Yaa 11 years ago

You guys have been saying this for more than 3 years now. Amisa-Arthur, when he was the BOG Governor, said the same thing, at the time the USD1 was equivalent to GHS1.50. Now that the USD is more than GHS3 we keep repeating t ...
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You guys have been saying this for more than 3 years now. Amisa-Arthur, when he was the BOG Governor, said the same thing, at the time the USD1 was equivalent to GHS1.50. Now that the USD is more than GHS3 we keep repeating the same false theory. Fifi is a fool and NDC behaves like insane people doing the same thing over and over again, expecting different outcome.

Get it in your thick heads - devaluation of any currency just literally means that your are transferring the wealth of the country to foreigners! Go think about it! When foreigners buy your stuff cheap and you pay more for their stuff because their currency is stronger, you are only giving them your wealth. We have done that over and over again and the situation is not abating. The average person can not make ends meet so there is corruption. A vicious cycles.......
Joe Crazy 11 years ago

Amongst a group of Blind men, the one eyed man is the King. NDC lack the quality of men to steer the affairs of this country and that is why we have such r0tten egg type of Ministers at the helm of affairs. Men who do not kno ...
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Amongst a group of Blind men, the one eyed man is the King. NDC lack the quality of men to steer the affairs of this country and that is why we have such r0tten egg type of Ministers at the helm of affairs. Men who do not know the difference between their mouth and where they defecate.
NANA ABA 11 years ago

HERH FIIFI WOAB)N FOKIN...WHERE DID U SCHOOL? PLS GO BACK TO YOUR ELEMENTARY SCHOOL AND LEARN..IT IS A DISGRACE THAT BU ARE A MINISTER.. ITS NOT YOUR FAULT, I ONLY BLAME THE FO.OLISH PREZ MAHAMA

HERH FIIFI WOAB)N FOKIN...WHERE DID U SCHOOL? PLS GO BACK TO YOUR ELEMENTARY SCHOOL AND LEARN..IT IS A DISGRACE THAT BU ARE A MINISTER.. ITS NOT YOUR FAULT, I ONLY BLAME THE FO.OLISH PREZ MAHAMA
Tom 11 years ago

i think you dont have to think small but rather think big.In my elementary economics, one of the conditions that shd prevail for the expporters to take advantage of this depreciated currency (not devaluation)is that demand fo ...
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i think you dont have to think small but rather think big.In my elementary economics, one of the conditions that shd prevail for the expporters to take advantage of this depreciated currency (not devaluation)is that demand for our export should be inelastic.You shd also know that most our production inputs are imported. Kindly go and read your economics bk and you will stop castigating the intelligent commentators.
Kojo T 11 years ago

In 1970 Busia and the NPP devalued the Cedi. We as students said it was wrong . He said it will promote exports. He had shut down Nkrumahs factories So who is right Busia/Kwettey or Sarpong . Of course if imports are expensiv ...
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In 1970 Busia and the NPP devalued the Cedi. We as students said it was wrong . He said it will promote exports. He had shut down Nkrumahs factories So who is right Busia/Kwettey or Sarpong . Of course if imports are expensive you will buy the cheaper made in Ghana products NPP loves hypocricy

SARPONG 11 years ago

Do you have to make comments that make you look like the illiterate you are? Do you have ti make it so obvious that you are ane an economic illiterate? Have gou heard of price and commodity dlasticities?

Do you have to make comments that make you look like the illiterate you are? Do you have ti make it so obvious that you are ane an economic illiterate? Have gou heard of price and commodity dlasticities?
SARPONG 11 years ago

Do you have to make comments that make you look like the illiterate you are? Do you have ti make it so obvious that you are ane an economic illiterate? Have gou heard of price and commodity elasticity?

Do you have to make comments that make you look like the illiterate you are? Do you have ti make it so obvious that you are ane an economic illiterate? Have gou heard of price and commodity elasticity?
Rich 11 years ago

I agree with Fifi, currency depreciation is good for the country if the country is ready to export.

I agree with Fifi, currency depreciation is good for the country if the country is ready to export.
nana enkobia ameyaw trehene III 11 years ago

Ghana is not producing enpugh our marketing their prodcuts properly abroad. Therefore, Ghana will suffer economically. Depreciation is not good for us.

Ghana is not producing enpugh our marketing their prodcuts properly abroad. Therefore, Ghana will suffer economically. Depreciation is not good for us.
SANK 11 years ago

MY GOODNESS! WHAT IS THIS WRITER TELLING THE WHOLE WORLD, THAT BECAUSE OF POLITICS HE AND THE SITE THAT POSTED THE STORY DO NOT KNOW THE DIFFERENCE BETWEEN DEVALUATION AND DEPRECIATION OF A CURRENCY AND ECONOMIC IMPLICATIONS ...
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MY GOODNESS! WHAT IS THIS WRITER TELLING THE WHOLE WORLD, THAT BECAUSE OF POLITICS HE AND THE SITE THAT POSTED THE STORY DO NOT KNOW THE DIFFERENCE BETWEEN DEVALUATION AND DEPRECIATION OF A CURRENCY AND ECONOMIC IMPLICATIONS FOR EACH?
Jibril 11 years ago

Rich, your "if" should be a big IF; and that's the point that Justice is making. Currency depreciation is good for export trade if

a) you produce goods that have price elasticity i.e. a small change in price can trigger a ...
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Rich, your "if" should be a big IF; and that's the point that Justice is making. Currency depreciation is good for export trade if

a) you produce goods that have price elasticity i.e. a small change in price can trigger a large demand. Ghana exports mainly raw materials whose demand in the international market is not determined so much by prices as by the political gimmicks of the cartels that control the trade.

b) you can rapidly increase production to meet increased demands, assuming that your price reductions actually trigger increased demands. We cannot increase our output of cocoa, minerals, timber, or even oil rapidly in the short term to take advantage of any price changes due tot he exchange rate depreciation.

Bottomline - Fiifi regurgitated economic theory but has absolutely no clue on how that theory can be applicable in the current context of Ghana. It is tragic that he was ever a deputy minister in our Ministry of Finance and Economic Planning!!! And Justice is right!!!!
SARPONG 11 years ago

Thank you Jibril, if Fiifi haf just said if we are exporting country of manufactured goods where we can crank up the production lines to take up the advantage of the depreciated cedi.

You touched on price elasticity couple ...
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Thank you Jibril, if Fiifi haf just said if we are exporting country of manufactured goods where we can crank up the production lines to take up the advantage of the depreciated cedi.

You touched on price elasticity coupled with commodity or good elasticity have a lot to do with this issue.
LEEDSMAN 11 years ago

O'level economics being used to govern our beloved country. Herrrrr Ghana is doomed for good. The current leadership does not inspire at all. Fiifi, knowing that the falling cedi is blessing what have you done to make people ...
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O'level economics being used to govern our beloved country. Herrrrr Ghana is doomed for good. The current leadership does not inspire at all. Fiifi, knowing that the falling cedi is blessing what have you done to make people aware of the opportunity if indeed there is one? what should people export and to where? what international standards does those products have to meet and are people able to meet them? Do our people have the resources to produce such products and if not has the government put in any support strategies? Have you as a government sought for any bilateral trade arrangement to facilitate the export of these products? Fiifi begin to do some critical thinking. Your solutions to problems are too basic and only only good for answering and passing sss/o'level exams quetions
Kahuna 11 years ago

Fiifi Kwertey has a scanty knowledge of economics and his Yaw Owusu Asante's economics without tears background does not merit appointing this loud-mouth snook as a finance minister. A Togolese friend of mine who knows Kwerte ...
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Fiifi Kwertey has a scanty knowledge of economics and his Yaw Owusu Asante's economics without tears background does not merit appointing this loud-mouth snook as a finance minister. A Togolese friend of mine who knows Kwertey very well always say to me Ghana deserves better and not the likes of Fiifi Kwertey.
Kofi akwete 11 years ago

Mahama saw propaganda in them so he made them ministers . for one mahama himself is not a clever chap . so all the people around him want is a pay check .

Mahama saw propaganda in them so he made them ministers . for one mahama himself is not a clever chap . so all the people around him want is a pay check .

Andrew 11 years ago

If Kwetey has an Economic degree, it should be withdrawn by the university that awarded it.

If Kwetey has an Economic degree, it should be withdrawn by the university that awarded it.
Sam Fosu 11 years ago

Fifi may be talking about this mentality of importation every consumable that Ghana could manufacture.Ghana has to go back to the basics of export based industries that our illustrous Osagyefo Dr.Kwame Nkrumah started.It is t ...
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Fifi may be talking about this mentality of importation every consumable that Ghana could manufacture.Ghana has to go back to the basics of export based industries that our illustrous Osagyefo Dr.Kwame Nkrumah started.It is time to sit up and change this mentality of exporting our raw materials like cocoa and try to refine our minerals.This is no time to pointing fingers at folks like Fifi.We all know what is to be done to stop our ever depreciating cedi.Don't we Dr.Sarpong?
GHANAIAN PATRIOT 11 years ago

PLEASE FIFI KWETTEY WHY DO YOU NOT JUST STOP AND LISTEN TO YOUR VOICE AND WHAT YOU SAY FOR ONE MINUTE BECAUSE THE DEGRADING OF YOUR ACADAMIC INTELLIGENCE BY GHANAIANS ON THE NETWORK IS NOT HELPING YOUR VERY EXISTANCE AS A MIN ...
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PLEASE FIFI KWETTEY WHY DO YOU NOT JUST STOP AND LISTEN TO YOUR VOICE AND WHAT YOU SAY FOR ONE MINUTE BECAUSE THE DEGRADING OF YOUR ACADAMIC INTELLIGENCE BY GHANAIANS ON THE NETWORK IS NOT HELPING YOUR VERY EXISTANCE AS A MINISTER ; YOU ARE JUST BECOMMING A JOKE IN THE CIRCLES OF ECONOMIC THOUGHT BESIDES DID YOU PAY MONIES TO YOUR LECTURERS TO PASS YOUR EXAMS; AT ALL; THE POINT HAS BEEN MADE CLEARLY : THE FACT THAT ANY CURRENCY DEPRECIATION HELPS EXPORT INTIATIVES AS ANY TEXT BOOK SAYS DOES NOT ALWAYS FOLLOW THAT PATTERN BESIDES MONETARY ECONOMICS IS A DYNAMIC SUBJECT AND INTERRELATED TO THE DYNAMIC COMPLEX EXPORT SCHOOL OF THOUGHT : THE SITUATION IN GHANA IS PERCULIAR BESIDES THERE ARE NO PROPER EXPORT STRATEGIES :EXPORT IS A VERY COMPLEX SUBJECT WHICH IS WELL PRACTISED BY THE GERMANS AND THE CHINA : BESIDES THERE ARE TIMES WHEN YOU MAY HAVE TO RESTRICT EXPORTS AND THERE ARE TIMES WHEN YOU YOU HAVE TO EMBARK ON EXPORT INITIATIVES : THIS IS NOT THE CASE WITH GHANA : ALL THE INDUSTRIES GHANA ARE COLLASPING AS WE SPEAK : THEREFORE WHAT HAS ANY DEPRECIATION BENEFITS GOT TO DO WITH THE CURRENT POOR EXPORT SITUATION : IN CHINA THERE SO MANY EXPORT INITIATIVES IN PLACE IN WHICH THE THE RMB AS A CURRENCY IN CHINA IS SOMETIMES MANIPULATED BESIDES CHINA DOES NOT DEPEND ON COMMODITIES AS THEIR MAJOR EXPORT EARNINGS : GHANA DEPENDS ON COCOA ETC IN WHICH IF THE CEDI CURRENCY DEPRECIATES OUR COMODITIES SELLS CHEAP ON THE WORLD MARKET WHICH MEANS REVENUES GO DOWN WHICH TURN AFFECTS OUR BUDGET DEFCIT : THEREFORE WHICH IS IS WHICH THAT FIFI KWETTEY IS TAKLING ABOUT : FIFI KWETTEY IF YOU READING SOME OF THE OPINIONS ON THIS PAGE PLEASE JUST KEEP QUIET BECAUSE : YOUR KNOWLEGDE ABOUT SUCH MATTERS ARE LIMITED ; YOU MUST THINK : HOW DID JON MAHAMA ELECT THESE TYPE OF DEFICIENT MINISTERS TO GOVERN GHANA _KWARRAA!!!!!!.
Jibril 11 years ago

Dear Cardinal of Truth

You have made my day with this response to Fiifi. Someone needs to tell him that it is often better to shut your mouth and be thought a fool than to open it and remove all doubt. Unfortunately, he ha ...
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Dear Cardinal of Truth

You have made my day with this response to Fiifi. Someone needs to tell him that it is often better to shut your mouth and be thought a fool than to open it and remove all doubt. Unfortunately, he has opened his mouth wide and leaves in no doubt. If such as guy was deputy for the management of our economy, no wonder why we are in such as mess!!!! I now understand why the Finance Ministry and the BOG dug up the bones of failed exchange control policies of the Acheampong and Rawlings eras and foisted them on us for another gargantuan failure. God bless Ghana!!!!
Philip Kobina Baidoo 11 years ago

I couldn't believe it when I read it.

I couldn't believe it when I read it.
Nana Yaw 11 years ago

So if you do not export anything that gives you foreign exchange and your cedi is falling due to import levies, what do you intend to doing? Lets think people. Politics of insults is not the way forward...

So if you do not export anything that gives you foreign exchange and your cedi is falling due to import levies, what do you intend to doing? Lets think people. Politics of insults is not the way forward...
high quality backlinks 11 years ago

md0miH Awesome article post.Much thanks again. Cool.

md0miH Awesome article post.Much thanks again. Cool.

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Let's The Cedi Depreciate, It's Good For Ghana

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