Features
Any justificationfor Ghana’s rising public debt?
One of the countries in the world that owes a lot in terms of public debt is the United States of America which is about the richest and the most powerful country occupying the surface of the earth.
Even though the United States owes a huge debt to many countries in the world, it cannot be said that it is threatening the existence of its citizens because it uses the money in a manner that helps to cater for the interest of the American people. In other words, as long as a country that owes huge public debt is able to invest its resources wisely and undertake productive ventures with the money borrowed, it will go a long way to solidify the lifestyle and standard of living of its people.
It is only when money that should be well invested is wasted that we can say the future will become bleak for the country concerned. If money is borrowed in huge quantities but utilised to undertake tremendous development projects which go to enhance the productive capacity of the economy, it will not be seen as waste, but a form of investment that will ultimately influence the country’s direction of growth in a positive manner.
Developmental government programmes
If this is the case, then we need to be careful about how we crucify certain governments for going in for money for developmental purposes. If a country, like Ghana, borrows so much money without a corresponding record of investment, then people must begin to show concern about this trend. But, if on the other hand, what is borrowed, even if high, is used to undertake programmes that will be in the interest of the country, then we need not be worried over such a situation.
Due to the over-politicisation of issues in this country, matters concerning borrowing have always been overstretched beyond reasonable limits of analysis such that sometimes, we wonder whether to sit and fold our arms while we could have gone in to borrow money to stimulate growth in certain parts of the economy. There is no doubt that we need to be careful about borrowing but if it is used to resuscitate and strengthen the economy for a more positive productive growth, we need to embrace it.
Free SHS and TVET
If more debts are contracted to add to our total debt stock but there is no basis for such a development, then we all have to show concern about it, but if the debt stock is going up because of investment in areas such as road construction, strengthening of the health sector, building of educational infrastructure, especially the free SHS and TVET, then we need to put aside all jokes and analyse issues in the right way so that we would all come to the right and acceptable conclusion.
Current debate
A current debate ongoing among certain individuals and groups of people in the country is the rising public debt which has hit a high level of GH¢286.9 billion. This figure appears to be very high but did not come out by chance. Rather, it is the result of a combination of factors which have brought about this huge public debt.
A number of reasons can account for rising public debt. One such factor is that if in the past things were not managed well, the result will be a rapid rise in the debts facing the nation. Debts may be accrued in form of investment or rapid construction of infrastructure to facilitate socio-economic development.
When this happens, the development that has taken place can help to generate extra incomes which in turn may cover the debts previously incurred. On the other hand, if previous accumulated debts are not put to good use in form of investment the result will be escalating the level of public debt. Again, some of the debts came about as a result of judgement debts and unreasonable interest rates incurred in connection with some deals connected with some of the power agreements contracted in the past.
Current public debt
Ghana’s current debt of GH¢286.9 billion represents 74.4 per cent of the country’s gross domestic product. On the face of it the debt looks too high but did it just rise like that? Certainly, no.
Available records show that the country’s public debt more than tripled between 2012 and 2016. It will, therefore, stand to reason that the numerous debts that were incurred between 2012 and 2016 could not be invested well as a result of which the public debt level kept getting higher and higher.
In a way, this unfavourable economic situation greatly impacted on the lifestyle of the people in the country and this together with non-availability of adequate electricity made economic life unbearable, hence the massive votes against the then NDC led government in December ,2016.
Surviving economically
The people in this country must continue to survive economically and live well. For this reason, the Akufo-Addo administration has negotiated for more loans to help construct more roads and other forms of infrastructure in form of schools, hospitals and other development projects.
The implementation of the free secondary school system which is good for the country has also affected the debt stock of the country. The free SHS, free Technical schools and free Vocational schools have led to the accumulation of some billions of Ghana Cedis.
Some of these covered water and electricity extension projects in various parts of the country. For example, for the first time Tamale in the Northern Region can now boast of a beautiful interchange. Such interchange projects have been duplicated in places such as Tema, Obetsebi-Lamptey Circle in Accra and Nsawam area.
COVID-19 pandemic
Just as things were moving on well under the Akufo-Addo administration, the pandemic known as COVID-19 hit the world including Ghana, throwing out of gear all infrastructure programmes that had been planned for the country.
The COVID-19 further affected the revenue base of the country and increased expenditures to further higher levels. This is what has led to the debt to GDP ratio of 74.4 per cent as of November 2020.
These and many other challenges have contributed to the economic problems facing the country. For many countries in the world, including France, Britain, USA, Germany and others, economic conditions have not been easy. What this means is that things are not easy. Thus, the situation calls for prudent economic management and implementation of programmes.
In spite of all these, Ghana as a country has done well in managing its economy, especially in the light of the COVID-19 pandemic which has led to the collapse of many economic and business activities in the country. Small businesses for example are being supported by the National Board for Small Scale Industries (NBSSI).
Mobilisation of resources to carry out development projects in the country has not been easy but with great determination and commitment, irrespective of the challenges, the Akufo-Addo administration is likely to make it to the admiration of all Ghanaians.
Dr. Kofi Amponsah-Bediako
All over the world, it has been recognised that nations who have developed, paid attention to education and continue to do so. If we pay lip service to the development of our educational system, we might as well forget about our development in the foreseeable future.
In order for effective teaching and learning to happen, the teacher who is the centre of it all, must be well motivated. Every person working in an office, every parliamentarian, every minister or deputy minister, all the way up to the first gentleman of the land, owes his or her status to a teacher.
Unfortunately, for some strange reason, our leaders who are the decision makers, do not seem to care very much about the welfare of teachers. The leadership of the various teacher unions, also appear not to be doing their job as is expected of them, leaving the teacher who had worked for over a year without being paid, frustrated.
The lack of seriousness that is attached to teachers’ issues is very worrying. My parents were teachers so I am very passionate about teachers’ issues. Gone are the days that we used to say that teachers will get their reward in Heaven.
Now those in the teaching profession are mostly youthful and they have a different mindset from that of our parents. They do not want their reward in Heaven, they want it here on this very earth.
A teacher sees his colleague who he was academically better than in school, from the same background socially, becomes a Municipal Chief Executive (MCE), an Member of Parliament (MP) or a Government Appointee and overnight, this guy becomes wealthy and you say he the teacher, should wait for his reward in Heaven?
His going there is not guaranteed anyway, so if he or she does not make it to Heaven, then what? Promises of government after government to teachers, remain unfulfilled and so they become disillusioned and demotivated to ensure effective teaching and learning.
I read a story of a lady, who as a child was suffering from Dyslexia but her teacher gave her the needed attention to help her and this even led her teacher to run into problems with the school authorities, resulting in the loss of her job. This lady grew up and became a famous actress and won an Oscar.
She then gave the prize money attached to the award, which was three million dollars, to her teacher who put her career on the line to help her out of her dyslexia challenge as a child.
There are many such teachers in our educational system because teaching is a calling, like medicine, like nursing etc. and therefore teachers who are the first point of call before we can climb the ladder to become the engineers, the lawyers, accountants and the rest, deserve special attention.
What is even important is the crucial role they play in shaping the moral character of future leaders which is invaluable.
Let us all, especially our leaders, place a high premium on the teacher who is at the centre of our educational system and who can make or unmake our future as a nation. How do you ask a teacher to go to a place, far removed from his or her parents and for a year and above not pay any salary to him or her?
How is the teacher to survive? If the same thing was done to any of our leaders, especially the leaders of the various teacher unions, will they be happy? How do they expect the teachers to survive and also be motivated to deliver quality teaching? Funds must be found to immediately resolve their unpaid salaries do they can be in the right frame of mind to do their very precious job. The teaching profession, in my view, is number one, when ranking professions because as an advert displays “If you can read this, thank a teacher”. Let us give our teachers their due. God bless.
By Laud Kissi-Mensah
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GREETINGS from Korkorti and from Kofi Owuo, alias Death-By-Poverty. When this column took a short break, the two friends summoned me. They wanted to know whether the column had gone on pension or was just on strike. I explained that the column was not on retirement and neither was it on a hunger strike. Rather, the column was of the habit of falling into coma for four weeks or thereabout every year.
Kwame Korkorti and Kofi Owuo (who is addicted to poverty and has sworn not to prosper) are two of my former classmates I cherish so much. And it was great fun to be a Nino in those days. In fact, on the first day on campus, Korkorti was bold enough to bully his own mates who tragically mistook him for a senior.
In fact, when the first-years arrived, Korkorti was one of them but quickly pretended he was in Form 2. So he began pulling the noses of his mates and brushing their faces when the real seniors were not quite in sight. It was when classes began that his victims realised the so-called nose-pulling senior was in fact their own classmate.
So Korkorti got famous for that gimmick. But his English was poor.
The English master was a tall, bombastic young man who claimed he was a former soccer star. In fact, he swore he had a magical left foot that was comparable to that of the legendary Pele. And his grandiloquence par excellence clearly distinguished him from other members of staff.
He did not quite like Korkorti because although the boy was stubborn and his head did not have a nice shape, the girls adored him. Moreover he never did his English Language assignments.
Stand up, you tall fool, the English master often ordered. Korkorti wouldn’t stand up but would just smile broadly.
“I say stand up” the teacher would bark now like a dog suffering from rabies “Get up and let me measure your stupidity.”
Korkorti would stand up this time round and yawn.
Certainly, lunchtime has been long in coming and a good yawn often relieved the young student’s stomach of gastronomic stress.
Invariably, the English guru did not like it when Korkorti yawned. For one thing, the boy opened his mouth too widely. For another, he yawned a bit too audibly and that caused laughter among his mates.
Certainly, the master must have figured out that the boy’s height was proportional to his stupidity. But there were no school rules against yawning
Merari Alomele’s
• A female student walking away from some male students
or wide mouth. In fact, there was freedom of yawning and snoring and Korkorti exercised both freedoms judiciously and democratically.
“Do you know when you yawn you look like a hungry crocodile,” the master once asked him.
“Yes sir, I am aware sir,” Korkorti confirmed and yawned again. This time he nearly swallowed the whole class. There was an uproar and the whole class reverberated in good laughter.
The English master shook his head and then nodded it like an agama lizard. This Korkorti boy was a real character, a phenomenon, a one-man thousand. Meanwhile lessons had to continue.
It was in those days when school was exciting and we often gathered and talked about girls. I had often dreamt of having a girl from Holy Child School because I had heard very saintly and curious things about them, I had learnt from a guy from Saint Augustine’s College that Holy Child girls were of a special breed, in fact a hybrid between the cultured home-bred variety and those of inner holiness. They were born of the Holy Spirit. The only thing was that they didn’t suffer under Pontius Pilate.
In short, they were angels in human form, spoke in a special way, walked with a unique and danced with heavenly steps. They were taught by Holy Nuns and so were quite different from us who had no hope of making any spirito-culturo-scholastic progress.
I confessed to Korkorti that I wanted a girl from Holy Child, not for immoral purposes but to partake of their saintly ways so that when it was time for going to heaven, Kwame Alomele could also be considered.
During vacations we met girls from Mawuli, Ola, Accra Girls, St. Roses, Wesley Girls but none from Holy Child. Then one day, Kwame Korkorti whispered into my ear that a Holy Child babe was in town and that he was sure my dreams had come true.
Korkorti organised it and we positioned at a spot, knowing the girl would traverse en route to the library or the market. After a boring period of waiting, Korkorti suddenly espied the child coming. I looked at her face and saw of an angel. What! This was the kind I always wanted. God bless my soul! This was really my chance and Korkorti had prophesied it.
“Hello Sister,” Korkorti called her when about to leave us.
The girl slowed down and looked at us. My heartbeat increased in tempo. What really was I going to tell this angel? Wouldn’t she think Korkorti was Satan and me a common red-eyed demon? I gathered courage.
“What do you want?” she asked in a sweet voice. My heart melted instantly. Spotless beauty with voice that did something to me. Good gracious!
“Eh-h, my friend says he likes you,” Korkorti to her bluntly.
At that very moment I felt as if a sledge-hammer had hit my chest with the force of a dynamite. What a blunder! What a shock! I felt dizzy instantly. My bosom friend had balked the whole agenda. Before I could recover from the shock, the girl had walked away. From that day. I never met another holy child.
In January, this year, I miraculously received a letter from an 18-year old Holy Child student who said she was my fan.
It was a nicely written letter and I enjoyed reading it. I then relived the Korkorti incident and laughed aloud to myself.
So when Korkorti and Kofi Owuo summoned me, I reminded them of the day my heart melted at the sight of the angel; that angel which disappeared before my eyes and made me go back home not crying and yet not laughing.
Proofread
Searching for the Holy Child
GREETINGS from Korkorti and from Kofi Owuo, alias Death-By-Poverty. When this column took a short break, the two friends summoned me. They wanted to know whether the column had gone on pension or was just on strike.
I explained that the column was not on retirement and neither was it on a hunger strike. Rather, the column was of the habit of falling into coma for four weeks or thereabout every year.
Kwame Korkorti and Kofi Owuo (who is addicted to poverty and has sworn not to prosper) are two of my former classmates I cherish so much. And it was great fun to be a Nino in those days. In fact, on the first day on campus, Korkorti was bold enough to bully his own mates who tragically mistook him for a senior.
In fact, when the first-years arrived, Korkorti was one of them but quickly pretended he was in Form 2. So he began pulling the noses of his mates and brushing their faces when the real seniors were not quite in sight. It was when classes began that his victims realised the so-called nose-pulling senior was in fact their own classmate
So Korkorti got famous for that gimmick. But his English was poor.
The English master was a tall, bombastic young man who claimed he was a former soccer star. In fact, he swore he had a magical left foot that was comparable to that of the legendary Pele. And his grandiloquence par excellence clearly distinguished him from other members of staff.
He did not quite like Korkorti because although the boy was stubborn and his head did not have a nice shape, the girls adored him. Moreover he never did his English Language assignments.
Stand up, you tall fool, the English master often ordered. Korkorti wouldn’t stand up but would just smile broadly.
“I say stand up” the teacher would bark now like a dog suffering from rabies “Get up and let me measure your stupidity.”
Korkorti would stand up this time round and yawn.
Certainly, lunchtime has been long in coming and a good yawn often relieved the young student’s stomach of gastronomic stress.
Invariably, the English guru did not like it when Korkorti yawned. For one thing, the boy opened his mouth too widely. For another, he yawned a bit too audibly and that caused laughter among his mates.
Certainly, the master must have figured out that the boy’s height was proportional to his stupidity. But there were no school rules against yawning or wide mouth. In fact, there was freedom of yawning and snoring and Korkorti exercised both freedoms judiciously and democratically.
“Do you know when you yawn you look like a hungry crocodile,” the master once asked him.
“Yes sir, I am aware sir,” Korkorti confirmed and yawned again. This time he nearly swallowed the whole class. There was an uproar and the whole class reverberated in good laughter.
The English master shook his head and then nodded it like an agama lizard. This Korkorti boy was a real character, a phenomenon, a one-man-thousand. Meanwhile lessons had to continue.
It was in those days when school was exciting and we often gathered and talked about girls. I had often dreamt of having a girl from Holy Child School because I had heard very saintly and curious things about them,
I had learnt from a guy from Saint Augustine’s College that Holy Child girls were of a special breed, in fact a hybrid between the cultured home-bred variety and those of inner holiness. They were born of the Holy Spirit. The only thing was that they didn’t suffer under Pontius Pilate.
In short, they were angels in human form, spoke in a special way, walked with a unique and danced with heavenly steps. They were taught by Holy Nuns and so were quite different from us who had no hope of making any spirito-culturo-scholastic progress.
I confessed to Korkorti that I wanted a girl from Holy Child, not for immoral purposes but to partake of their saintly ways so that when it was time for going to heaven, Kwame Alomele could also be considered.
During vacations we met girls from Mawuli, Ola, Accra Girls, St. Roses, Wesley Girls but none from Holy Child. Then one day, Kwame Korkorti whispered into my ear that a Holy Child babe was in town and that he was sure my dreams had come true.
Korkorti organised it and we positioned at a spot, knowing the girl would traverse en route to the library or the market. After a boring period of waiting, Korkorti suddenly espied the child coming. I looked at her face and saw of an angel. What! This was the kind I always wanted. God bless my soul! This was really my chance and Korkorti had prophesied it.
“Hello Sister,” Korkorti called her when about to leave us.
The girl slowed down and looked at us. My heartbeat increased in tempo. What really was I going to tell this angel? Wouldn’t she think Korkorti was Satan and me a common red-eyed demon? I gathered courage.
“What do you want?” she asked in a sweet voice. My heart melted instantly. Spotless beauty with voice that did something to me. Good gracious!
“Eh-h, my friend says he likes you,” Korkorti to her bluntly.
At that very moment I felt as if a sledge-hammer had hit my chest with the force of a dynamite. What a blunder! What a shock! I felt dizzy instantly. My bosom friend had balked the whole agenda. Before I could recover from the shock, the girl had walked away. From that day. I never met another holy child.
In January, this year, I miraculously received a letter from an 18-year old Holy Child student who said she was my fan. It was a nicely written letter and I enjoyed reading it. I then relived the Korkorti incident and laughed aloud to myself.
So when Korkorti and Kofi Owuo summoned me, I reminded them of the day my heart melted at the sight of the angel; that angel which disappeared before my eyes and made me go back home not crying and yet not laughing.
This article was first published on Saturday, March 18, 1996
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