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Economic recovery on course

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Ken Ofori Attah

Ken Ofori Attah

There is no doubt that, in spite of the current economic challenges, the government is working hard round the clock to en­sure an effective economic recovery in order to make things better for Ghanaians in the country.

It is an indication of the determi­nation of the government to sur­mount the obstacle that is affecting the country today. What makes us hopeful is that, in spite of the eco­nomic difficulties facing the country, developmental projects in all parts of the country are still ongoing.

Technical, Vocational, Engineer­ing and Technology education (TVET) is going alongside the free SHS being implemented with maximum alacri­ty. Other projects, such as the new regional and district hospitals as well as the promotion of electricity and water in various parts of the country, among others, are ongoing. Again, electricity supply has been relative­ly constant compared to what was experienced previously under what became known as “Dumsor”.

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In other parts of Africa, for in­stance, power outages have become a common phenomenon. The cases of South Africa, Nigeria and a few other African countries testify to this fact.

COUNT OUR BLESSINGS

It is for this reason that people in Ghana must be happy and hopeful for happy days ahead. We need to count our blessings one by one.

It is true that economic condi­tions are very tough, but from all indications, every effort is being made to bring the situation under control. The Debt Restructuring Pro­gramme by the government is meant to bring the situation under control in order to push forward positive growth and this is the reason why the government is still negotiating with its creditors to bring the debt level under control.

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The Domestic Debt Exchange has been completed successfully. In the same way, efforts are also being made to enter negotiations with our foreign counterparts to bring the situation under control as far as the foreign debt level is concerned.

The debt level has gone up not because of any reckless spending. Rather, they went into the build­ing of schools, both technical and grammar education, the provision of water and electricity for the people, the construction of roads and many others.

This is a country that has proven to be responsible as far as develop­mental projects are concerned. It is believed that very soon, positive economic results will be encoun­tered.

NEGOTIATIONS ON DEBT RE­STRUCTURING

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Finance Minister Ken Ofori Atta went to China to have negotiations on debt restructuring with officials of that country. Sources say the Min­ister went via Addis Ababa, where he attended the UNECA High-Level Min­isters meeting on Global Financial Architecture. After that meeting, Mr Ofori-Atta headed to China on March 22, 2023.

The Minister who led the govern­ment delegation had bilateral talks with China as well as seek financial assurances for Ghana’s programme with the International Monetary Fund. This is an indication of the great effort being made by govern­ment to normalise the economic situation of the country and make it better.

The trip was postponed to the end of March because it coincided with the National People’s Congress of China meeting in early March 2023. The Minister of Finance has al­ready held meetings with officials of Exim Bank China in Ghana, all in the line with re-profiling the country’s debt to China.

GENERATION OF FUNDS

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The government is also working hard to derive enough money from Treasury Bills in order to keep things going. We therefore need to be hopeful because all these efforts are yielding the desired results in line with the economic recovery.

The Government of Ghana se­cured GH¢3.88 billion from the sale of treasury bills in its latest auction held on March 10, 2023. This was an oversubscription of the GH¢1.10 billion it was targeting.

However, interest rates have dropped significantly to 18 per cent. According to the auction results from the Central Bank, the gov­ernment secured GH¢2.90 billion from the 91-day bill and GH¢972.49 million from the 182-day bill. The subscriptions surpassed the gov­ernment’s set target of GH¢2.775 million but it sold more than the GH¢3.31 billion secured by the government in last week’s auction. Interest rates, however, reduced to 18.52 per cent for the 91-day bill, 22.8 per cent and 21.27 per cent for the 182-day bill.

CONFIDENCE IN ECONOMY

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The oversubscription is an indica­tion of great confidence in the Gha­naian economy. If there had been no confidence, there would have been undersubscription. This goes to show, among others, that things are on course for rapid recovery.

The fall in rates has been at­tributed to the successful debt restructuring program. According to the government, the Domestic Debt Exchange programme has account­ed for the reduction in the rate of Treasury Bills from 35 per cent to 24 per cent.

There is therefore no doubt that things are gradually stabilising and getting better. If this is the case, then let us have confidence that, as long as we are on the right path, Ghanaians will soon smile.

What we are all seeking is for in­flation to fall to a level that is lower than what it is now. If this happens, and it will surely do so, the econom­ic recovery programme will move at a faster rate than it is now.

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INFLATION

Inflation could fall sharply to be­low 40 per cent by the end of April 2023. According to a Senior Credit Research Analyst at REDD Intelli­gence, Mark Bohlund, his base ef­fects analysis indicate that “inflation will fall by more than 10 percentage points by April 2023.”

The fall in inflation will not hap­pen by mere chance. Rather, it will come about as a result of pragmatic steps taken by the government to achieve that purpose.

“The inflation rate has declined for two straight months and may fall more sharply to below 40 per cent by the end of April due to base effects,” said Mark Bohlund, a senior credit research analyst at REDD In­telligence. Bloomberg said the Gha­na cedi, which whipsawed in 2022 over concern about its ballooning debt load and then optimism about a provisional International Monetary Fund bailout, has been relatively steady this year, helping to keep inflation in check.

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ECONOMY TO BOUNCE BACK

In conclusion, therefore, the eco­nomic situation being experienced in Ghana is tough, admittedly, but the government has taken the right steps to ensure that positive results are achieved as early as possible. We must all therefore be hopeful that, as President Akufo Addo has said, the economy will surely bounce back.

Ghana will not continue to stay in this economic situation. We must therefore be hopeful in light of the ongoing recovery efforts that are taking place thanks to the bold economic steps put in place by the government.

The economic recovery is surely bound to occur within a short time, so we must all support the gov­ernment with prayer and action in our daily practical dealings so that things will be better for all of us.

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Email address/WhatsApp num­ber of author:

Pradmat201@gmail.com (0553318911)

By Dr Kofi Amponsah-Bediako

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International character of Ghanaman and more

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Ghanaians can be found in every part of the world

The average modern Gold Coaster born and bred in Sikaman is an adventurous creature. Go to any part of the world and you’ll find Ghanaman diligently slugging it out either in the snow or in hot sweltering weather, earning a decent living.

Go to Guinea and see Ghanaman in the garb of a herbalist, curing the sick of various ailments. He makes the Guinean understand that not all diseases are caused by James Lucifer alias Jimmy Satan. On the contrary, most diseases are caused by kooko which can even attack the human nose and turn it upside down.

That kooko is also the cause of poverty and the internal bleeding of personal back-pocket economies. And that kooko can be cured using the chemistry underlying Sikaman herbal medicine which has been blessed by the gods of Larteh.

And before Ghanaman starts dispensing his herbal concoctions, he must attract the passing crowd with some Sıkaman-originated choreography, akin to a combination of adowa and agbadza, such that the dancer can easily dislocate a shoulder and start crying for his mother.

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When the crowd is enough to form a quorum, Ghanaman must perform magic as a side-attraction, and proceed to sell his drugs. The drugs are genuinely made from potent herbs which the Pharmacy Board of Sikaman says it has no confidence in. Believe me, Ghanaian herbalists are practising in neighbouring countries like Guinea, Cote d’Ivoire, Sierra Leone and Benin, while we are discouraging them from practising in Sikaman.

Go to Las Palmas and see Ghanaman as a fisherman. He sails on Korean-owned boats and is forced to eat garlic and raw tuna for radiant health. The garlic is also supposed to protect him against witches. But sometimes, he is not good bedfellows with some Korean crew members, and once in a while a fight breaks out.

The typical Korean is a Kung Fu expert and before displaying a golden dragon data. He must first terrify Ghanaman with a Korean dance which consists of wild arms and leg throwing. But Ghanaman is usually not daunted. Why has he been eating cancer kenkey all years without developing cancer? It mean is a superhuman capable of countering Kun fu side-kicks to the ribs.

Anyhow Ghanaman’s most potent arsenal lies in his fists. If he is a southpaw, it mean left fist is probably insured and can cause damage. When Ghanaman lands a cassava blow and it lands on a Korean chest, it has the effect of a cruise missile. If there is no ceasefire a funeral cannot be ruled out.

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Greenland

Go to Alaska and find Ghanaman there. Greenland, Iceland, Brazil, Argentina, Madagascar, everywhere and you’ll find him. He has become an international citizen and is generally lauded for his hardwork, sincerity and honesty.

However, some bad nuts are also condemned and despised.

The world and all its parts and corners are for the human race, and anyone can choose to live anywhere and earn a decent living so long as he doesn’t misconduct himself or become a social misfit and a law unto himself.

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Sıkaman for instance accepts foreigners, and we are so liberal that people just come in through our borders and we welcome them with the best palmwine in town and goat light soup. Who cares about passports and visas? Our hospitality is, as it were legendary.

So we have Liberians, Nigerians, Sierra Leoneans, Togolese, Europeans, Americans, Scandinavians and Koreans in Sikaman.  And some of them have misinterpreted our overzealous accommodation to mean “foolishness” and are misconducting themselves.

The newspapers carry stories of some unscrupulous Nigerians stealing, defrauding and collaborating with their Sikaman counterparts to rob people. You’ll find some good and law-abiding Liberians around but some other Liberians are in the business of fraud, robbery, money printing, money doubling, anything criminal.

Ghanaian hospitality can no longer be extended to such people. I do not think Ghanaians will be treated kindly either, when they misbehave anywhere in the world. Those who come from outside with the intention of bringing down their evil deeds and to practise them here professionally must be getting ready because Ghanaians are getting fed up with the menace.

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These days, you’ll find strange people following you as soon as you emerge from a bank. If you are not careful, they’ll wrestle your briefcase from you and speed away in a waiting taxi.

Someone was just saying that many foreign criminals are flocking to Ghana because in their countries, they are enable to operate either because they are being looked for by the police for offences committed or fear instant justice at the hands of mobs. Ghanaians, it is said, are humanitarian in dealing with criminals.

Well, in some African countries, a thief who is being chased runs directly to the police station in his own interest and begs the officer at the counter to lock him up. Otherwise he’ll be lynched or be burnt to death. In Ghana, it is the opposite. The thieves run far away from the cop stations.

The criminals must reform and stay peacefully in Sikaman or quit. No court case!

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This article was first published on Saturday September 5, 1998

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The architecture of existence: How we live and die

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​The human condition is defined by two absolute, biological bookends: the commencement of complex cellular animation and its ultimate, irreversible cessation.

For centuries, medicine treated life and death as strictly separate states. Today, modern pathology and molecular biology reveal a more profound truth: the mechanisms that allow us to live are the exact same mechanisms that dictate how we die.

​Understanding this relationship is no longer just a philosophical pursuit. It is a clinical necessity for managing public health in the 21st century.

Part I: How we live – The mechanics of animation

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​At its core, biological life is a continuous, high-stakes battle against entropy (the natural tendency of systems to degrade into disorder). To maintain form, consciousness, and function, the human body relies on three fundamental pillars:

1. Cellular respiration and energy production

​Every second of human life is powered by the conversion of oxygen and glucose into Adenosine Triphosphate (ATP), the universal energy currency of our cells. This process occurs within the mitochondria.

Without a constant supply of ATP, the microscopic pumps that maintain electrical gradients across our cell membranes fail, causing cellular collapse within minutes.

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2. Homeostasis: The balancing act

​To survive, the internal environment of the body must remain incredibly stable, regardless of external chaos. This balancing act, known as homeostasis, regulates:

​Blood pH: Strictly maintained between 7.35 and 7.45.

​Core Temperature: Ideally kept around 37°C (98.6°F).

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​Electrolyte Balance: Precise ratios of sodium, potassium, and calcium that allow nerves to fire and muscles to contract.

​3. The Autonomic Nervous System (ANS)

​The ANS acts as the invisible conductor of life, split into two complementary branches:

Part II: How we die – The path of cessation

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​Death is rarely a singular event; it is a progressive biological cascade. Whether caused by old age, chronic illness, or sudden trauma, the final pathways of mortality generally follow a predictable trajectory.

​1. The cellular horizon: Senescence and Apoptosis

​Every time a human cell divides, the protective caps at the ends of its chromosomes-telomeres-shorten. Eventually, telomeres become so depleted that the cell can no longer divide safely. It enters senescence (a state of permanent arrest) or triggers apoptosis (programmed cell death). This gradual, systemic loss of cellular renewal is the underlying engine of aging.

​2. The clinical cascade of somatic death

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​When the body can no longer maintain homeostasis, somatic death (the death of the organism as a whole) begins. This occurs in a distinct sequence:

1

Clinical Death

Zero to four minutes

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The heart stops pumping blood, and respiration ceases. While breathing and circulation have ended, the body’s tissues still contain residual oxygen and cellular energy reserves. At this stage, resuscitation is often still possible.

2

Brain Death (Infarction)

Four to six minutes

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Deprived of fresh oxygenated blood, the brain’s highly sensitive neurons begin to starve. Lacking ATP, the brain cells lose their electrical charge, swell, and begin to burst. Permanent, irreversible neurological damage occurs within minutes.

3

Biological Death

Hours to days

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The organs fail entirely. Without central control or blood flow, individual cells throughout the body consume their final energy reserves. Enzymes that once aided digestion begin to break down the body’s own tissues from the inside out, a process known as autolysis.

Part III: The modern collision of life and death

​In the modern era, the boundary between how we live and how we die has blurred. Historically, humanity died primarily from infectious diseases and acute trauma. Today, global mortality is dominated by non-communicable, chronic lifestyle diseases.

Modern Pathology: How we live (the cause) how we die (the result)

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Cardiovascular disease, chronic stress, poor diet, and lack of sleep keep the sympathetic nervous system hyper-activated, damaging blood vessels .Occlusion of coronary arteries leads to myocardial infarction (heart attack) or ischemic stroke.

Metabolic syndrome over nutrition and physical inactivity overwhelm cellular mitochondria, leading to systemic insulin resistance. Multi-organ failure, chronic kidney disease, and severe vascular complications.

Neurodegenerative Disorders Chronic systemic inflammation and sleep deprivation prevent the brain from clearing metabolic waste. Gradual loss of synaptic connections, leading to dementia and the eventual loss of basic autonomic functions.

Conclusion: The unified theory of health

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​Ultimately, how we live directly shapes the path of how we die. The micro-choices of daily existence-how we manage emotional stress, the quality of our rest, our communal connections, and our nutrition-either preserve the integrity of our homeostatic systems or accelerate their decline.

​True medical advancement is shifting away from merely extending the final, frail stages of biological death. Instead, the focus is turning toward optimising our living years-ensuring that the intricate, beautiful machinery of human animation runs smoothly until its natural, quiet conclusion.

By Robert Ekow Grimmond-Thompson

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