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Stabilisation of the Cedi

• Cedi in various denominations

In spite of the economic difficulties encountered all over the world including Ghana, various efforts are being made by serious and people-centred governments towards rapid economic recovery and as a country, Ghana is one of the republics that is putting things in place for rapid economic recovery for the overall benefit of the people of Ghana.

When an economy is shattered by COVID-19 pandemic and worsened by the Russian-Ukraine conflict, the effects are likely to engender repercussions that are likely to create turmoil to create disaffection among the people. Here in Ghana, the meaningless talks going on among political opponents is an evidence that shows that without zeal and commitment, economic disorders can be created to worsen situations in the country.

We have already heard of Mr. John Mahama, former President, claiming that if his party should come to power in 2025, he’s likely to cancel the E-levy law passed by Parliament and assented to by the President. This is an empty talk in the eyes of many people because in their view, the former President is saying something to appeal to his friends within the NDC. The reality is that Mr. Mahama will not be able to do this because replacing the source of income generated for the country will not be an easy task to overturn. In 2008, when the Kufuor-led administration introduced the Communication Service Tax (CST) at an ad valorem rate of six per cent, the NDC kicked against it and promised to abolish the tax. Surprisingly, when they came into power in 2009, they retained it until they were booted out of office in 2017. So, the former President should refrain from such meaningless statements that come from him from time to time.

Looking at economic development in the country, it is becoming increasingly clear that the economy has already started recovering and the value of the Cedi will soon begin to appreciate against foreign currencies having been able to stabilise for some time now. Apart from local observers, some sections of the international community have also realised the promising nature of the economic development. It should, therefore, not come as a surprise to people when the Cedi begins to appreciate in value.

An economy that is not recovering cannot have its currency appreciating against other currencies. Thus, Ghanaians must render their support to the Akufo-Addo administration, so that the government and people can move forward in unison to achieve progress for the entire country.

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SIGNS OF ECONOMIC RECOVERY

There is no doubt that signs of economic recovery will be felt by people in this country not long from now. The Ghana Cedi has been projected to record some modest gains in the coming months of this year.

This is according to global research arm, Fitch Solutions. An analyst with the Sub Sahara African Department at Fitch Solutions, Ben Weaver said the outlook for the Ghana Cedi is somewhat promising despite Ghana’s persistent depreciation of the currency in the first three months of 2022.

GOOD NEWS

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This is good news for all Ghanaians so we need to render support to the Akufo-Addo administration to carry the economy to the promised land. Indeed, Rome was not built in a day so with careful analysis of economic trends and purposeful policies, Ghana as a whole will begin to expand and grow to ensure improvement in the welfare of all residents in the country.

According to Ben Weaver, who is an analyst with the Sub Sahara African Department at Fitch Solutions, “Our outlook for the Cedi, I think we’ve seen quite a lot of weakening in the first few months of this year. But we expect modest appreciation to kind of continue in the coming months and to the end of the year as much of the weakening has already happened.”

This means that the Cedi has already seen some depreciation in the early parts of this year. However, the signs are that sooner than later this year, the currency will begin to reflect by appreciating the good policies being implemented by the government.

This appreciation of the Cedi is likely to create some inflationary trends due to the influence of external economic factors. Even though prices will rise slightly, it will not be too much to result in unbearable pressures on people.

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INFLATIONARY PRESSURES

In the words of the international analyst himself, “…this will of course increase inflationary pressures. But we don’t expect inflation to accelerate too much high the way it is. Ghana’s inflation rate accelerated quite aggressively and this is due to rising gold price as well as the weakening of the cedi.”

In conclusion, therefore, Ghanaians should look forward with hope since the Cedi will soon be able to appreciate due to good policies being implemented to salvage the economic plight of all Ghanaians. With determination, the country will soon overcome its economic difficulties so no one should be in despair.

ENCOURAGEMENT

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Rather, everyone should be encouraged to play his/her part to support government to ensure that the ultimate economic purpose of good life and sanity is attained for the common good.

We should all know that we are not in normal times. However, with determination and a positive attitude towards the attainment of the national goal, we will be able to overcome all the challenges we are facing.

Contact email/whatsApp address of author:

Pradmat2013@gmail.com (0553318911)

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By Dr. Kofi Amponsah-Bediako

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Tears of Ghanaman, home and abroad

• Sikaman residents are more hospital to foreign guests than their own kin
• Sikaman residents are more hospital to foreign guests than their own kin

The typical native of Sikaman is by nature a hospitable creature, a social animal with a big heart, a soul full of the milk of earthly good­ness, and a spirit too loving for its own comfort.

Sikaman Palava
Sikaman Palava

Ghanaman hosts a foreign pal and he spends a fortune to make him very happy and comfortable-good food, clean booze, excellent accommoda­tion and a woman for the night.

Sometimes the pal leaves without saying a “thank you but Ghanaman is not offended. He’d host another idiot even more splendidly. His nature is warm, his spirit benevolent. That is the typical Ghanaian and no wonder that many African-Americans say, “If you haven’t visited Ghana. Then you’ve not come to Africa.

You can even enter the country without a passport and a visa and you’ll be welcomed with a pot of palm wine.

If Ghanaman wants to go abroad, especially to an European country or the United States, it is often after an ordeal.

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He has to doze in a queue at dawn at the embassy for days and if he is lucky to get through to being inter­viewed, he is confronted by someone who claims he or she has the power of discerning truth from lie.

In short Ghanaman must undergo a lie-detector test and has to answer questions that are either nonsensical or have no relevance to the trip at hand. When Joseph Kwame Korkorti wanted a visa to an European country, the attache studied Korkorti’s nose for a while and pronounced judgment.

“The way I see you, you won’t return to Ghana if I allow you to go. Korkorti nearly dislocated her jaw; Kwasiasem akwaakwa. In any case what had Korkorti’s nose got to do with the trip?

If Ghanaman, after several at­tempts, manages to get the visa and lands in the whiteman’s land, he is seen as another monkey uptown, a new arrival of a degenerate ape coming to invade civilized society. He is sneered at, mocked at and avoided like a plague. Some landlords abroad will not hire their rooms to blacks because they feel their presence in itself is bad business.

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When a Sikaman publisher land­ed overseas and was riding in a public bus, an urchin who had the impudence and notoriety of a dead cockroach told his colleagues he was sure the black man had a tail which he was hiding in his pair of trousers. He didn’t end there. He said he was in fact going to pull out the tail for everyone to see.

True to his word he went and put his hand into the backside of the bewildered publisher, intent on grab­bing his imaginary tail and pulling it out. It took a lot of patience on the part of the publisher to avert murder. He practically pinned the white mis­creant on the floor by the neck and only let go when others intervene. Next time too…

The way we treat our foreign guests in comparison with the way they treat us is polar contrasting-two disparate extremes, one totally in­comparable to the other. They hound us for immigration papers, deport us for overstaying and skinheads either target homes to perpetrate mayhem or attack black immigrants to gratify their racial madness

When these same people come here we accept them even more hospi­tably than our own kin. They enter without visas, overstay, impregnate our women and run away.

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About half of foreigners in this country do not have valid resident permits and was not a bother until recently when fire was put under the buttocks of the Immigration Service

In fact, until recently I never knew Sikaman had an Immigration Service. The problem is that although their staff look resplendent in their green outfit, you never really see them any­where. You’d think they are hidden from the public eye.

The first time I saw a group of them walking somewhere, I nearly mistook them for some sixth-form going to the library. Their ladies are pretty though.

So after all, Sikaman has an Immi­gration Service which I hear is now alert 24 hours a day tracking down illegal aliens and making sure they bound the exit via Kotoka Interna­tional. A pat on their shoulder.

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I am glad the Interior Ministry has also realised that the country has been too slack about who goes out or comes into Sikaman.

Now the Ministry has warned foreigners not to take the country’s commitment to its obligations under the various conditions as a sign of weakness or a source for the abuse of her hospitality.

“Ghana will not tolerate any such abuse,” Nii Okaija Adamafio, the Interior Minister said, baring his teeth and twitching his little moustache. He was inaugurating the Ghana Refu­gee and Immigration Service Boards.

He said some foreigners come in as tourists, investors, consultants, skilled workers or refugees. Others come as ‘charlatans, adventurers or plain criminals. “

Yes, there are many criminals among them. Our courts have tried a good number of them for fraud and misconduct.

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It is time we welcome only those who would come and invest or tour and go back peacefully and not those whose criminal intentions are well-hidden but get exposed in due course of time.

This article was first published on Saturday March 14, 1998

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 Decisions have consequences

 In this world, it is always important to recognise that every action or decision taken, has consequences.

It can result in something good or bad, depending on the quality of the decision, that is, the factors that were taken into account in the deci­sion making.

The problem with a bad decision is that, in some instances, there is no opportunity to correct the result even though you have regretted the decision, which resulted in the un­pleasant outcome.

This is what a friend of mine refers to as having regretted an unregreta­ble regret. After church last Sunday, I was watching a programme on TV and a young lady was sharing with the host, how a bad decision she took, had affected her life immensely and adversely.

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She narrated how she met a Cauca­sian and she got married to him. The white man arranged for her to join him after the marriage and process­es were initiated for her to join her husband in UK. It took a while for the requisite documentation to be procured and during this period, she took a decision that has haunted her till date.

According to her narration, she met a man, a Ghanaian, who she started dating, even though she was a mar­ried woman.

After a while her documents were ready and so she left to join her husband abroad without breaking off the unholy relationship with the man from Ghana.

After she got to UK, this man from Ghana, kept pressuring her to leave the white man and return to him in Ghana. The white man at some point became a bit suspicious and asked about who she has been talking on the phone with for long spells, and she lied to him that it was her cousin.

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Then comes the shocker. After the man from Ghana had sweet talked her continuously for a while, she decided to leave her husband and re­turn to Ghana after only three weeks abroad.

She said, she asked the guy to swear to her that he would take care of both her and her mother and the guy swore to take good care of her and her mother as well as rent a 3-bedroom flat for her. She then took the decision to leave her hus­band and return to Ghana.

She told her mum that she was re­turning to Ghana to marry the guy in Ghana. According to her, her mother vigorously disagreed with her deci­sion and wept.

She further added that her mum told her brother and they told her that they were going to tell her hus­band about her intentions.

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According to her, she threatened that if they called her husband to inform him, then she would commit suicide, an idea given to her by the boyfriend in Ghana.

Her mum and brother afraid of what she might do, agreed not to tell her husband. She then told her hus­band that she was returning to Ghana to attend her Grandmother’s funeral.

The husband could not understand why she wanted to go back to Ghana after only three weeks stay so she had to lie that in their tradition, grandchildren are required to be present when the grandmother dies and is to be buried.

She returned to Ghana; the flat turns into a chamber and hall accom­modation, the promise to take care of her mother does not materialise and generally she ends up furnishing the accommodation herself. All the promises given her by her boyfriend, turned out to be just mere words.

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A phone the husband gave her, she left behind in UK out of guilty conscience knowing she was never coming back to UK.

Through that phone and social media, the husband found out about his boyfriend and that was the end of her marriage.

Meanwhile, things have gone awry here in Ghana and she had regretted and at a point in her narration, was trying desperately to hold back tears. Decisions indeed have consequences.

NB: ‘CHANGE KOTOKA INTERNA­TIONAL AIRPORT TO KOFI BAAKO INTERNATIONAL AIRPORT’

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