Features
Finance Minister claims economy is back on track …But the ordinary Ghanaians say impact is not being felt in their pockets
Ken Ofori-Atta
There are two schools of thought about a recent statement attributed to the Finance Minister, Ken Ofori-Atta with regards to the economy which he claimed had taken shape following the injection of the first tranche of loans from the International Monetary Fund (IMF) to revamp Ghana’s ailing economy and bring it back on track.
While the government spearheaded by the Finance Minister, who is the exchequer and economic and financial advisor to the President, aided by IMF officials believe that there are concrete signs of improvement in the economy which are beginning to show or manifest, other school of thought particularly the ordinary Ghanaians believe that the government is being evasive, insincere and hypocritical with the truth. They feel that they are being short-changed and deceived by the government and that nothing really is happening because the signs of economic growth are not being felt in their lives, let alone in their pockets. Their thinking was that all the factors that led the country to the IMF to seek economic bailout still persist and that nothing has changed, claiming that the value is still the same.
ECONOMIC WATCHERS AND THINK TANKS PROJECTIONS
The economic watchers and think tanks have projected a slowdown in the economy to 1.5% in 2023 and remain depressed in 2024 at 2.8per cent, but it is expected to recover to its potential growth by 2025. Some of the economic challenges facing Ghana are unemployment, corruption, inconsistent economic policies, poor human capital development, poor health system, crime and terrorism. Our biggest problem is a debt crisis, high inflation and the devaluation of the local currency, the cedi. These are the challenges that led the country to conclude an agreement with the IMF for a bailout.
The Government of Ghana recently reached a Staff Level Agreement (SLA) with the IMF for a first review of the IMF-supported Post COVID-19 Programme for Economic Growth (PC-PEG). That consensus came after five months of negotiations and paved the way for further progress toward approval of the first review by the IMF Executive Board scheduled for November 2023.
FINANCE MINISTER’S SPEECH
Speaking to the press after that meeting, the Finance Minister Ken Ofori-Atta, expressed optimism about the economic outlook saying: “The economy is responding positively and strongly to the news of government and IMF reaching an SLA for the first review, and we are eager to leverage this momentum to the very moment when the IMF Executive Board approved the first review in November”. He said the SLA was an indicative of the strong performance in meeting end-June 2023 performance indicators – including six quantitative performance criteria and three indicative targets as well as three structural benchmarks. These achievements he said, underscored Ghana’s commitment to economic recovery and stability.
Hear the Minister further: “Year-to-date data reflect significant improvements in economic performance. The gross domestic product has rebounded strongly, averaging 3.2 per cent in the first two quarters of 2023. Inflation on the other hand has been on a relatively downward trend, dropping to 40.1 per cent in August 2023 while the cedi has remained stable with a cumulative depreciation of about 23.5 per cent year-to-date. The fiscal front shows a surplus of about GHc2billion in H1 2023, exceeding the target”.
EMPTY PAPER TALK
Indeed, on paper, these are fine development, especially for the economists since they understand the issue and the corresponding economic language better and therefore can digest and interpret it in the best manner they can. But on a more serious note, the majority of Ghanaians who assess and weigh the performance of the economy with their living conditions, will not side with the government assessment because they don’t feel the transformation of the economy in their pockets since it is not visible. It is the same old story as they find it very difficult to make ends meet. They are still buying food items and other consumables at exorbitant prices, cost of transportation is still high, fuel prices keep escalating, payment of school fees for their children and wards has become so difficult, marriages are fallen apart and on rocks due to financial misunderstandings from couples and a whole lot of economic challenges.
EXPECTATIONS FROM GHANAIANS
Just as the government assured the nation that going to the IMF for economic bailout would solve most of these economic difficulties and improved the living conditions of the people within the shortest possible time, Ghanaians were therefore of the high hopes and expectation that, it would not be long for them to see signs of improvement in their living conditions. However, six months into the programme, nothing is showing and also, they are not feeling the impact of the IMF bailout.
Those so-called economic jargons such as gross domestic product, high inflation, macro and micro economic developments among others, which are difficult to be understood and assimilated and are always foisted on the ordinary Ghanaians make them angry and agitated, because they do not make sense to them in any way. As for the IMF praising Ghana for managing the funds well, that is normal because the benefit they will derive from Ghana in the long run.
Right now, what Ghanaians are expecting from government that will let them feel comfortable with their lives is to lay bare in simple terms the true facts relating to the current situation with the IMF bailout and the corresponding benefits that will reflect their lifestyles. Ghanaians are now discerning and wide awake and, therefore they will not sit down and allow falsehood to be peddled or forced down their throats to swallow. They will rather prefer that the government keep mute on issues concerning the economy instead of throwing dust into their eyes through deceit and falsehood. Ghanaians are noted to be magicians when it comes to how they manage themselves and they will like to remain as such.
Contact email/WhatsApp of author: ataani2000@yahoo.com
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By Charles Neequaye
Conflict at work is more common than you might think. According to 2022 research by The Myers-Briggs Company, more than a third of the workforce reports dealing with conflict often, very often, or all the time in the workplace.
Addressing a dispute might feel tense or awkward, but resolving the conflict is typically well worth it in the long run. Whether you are trying to mediate conflict between colleagues or are directly involved. Last week we looked at three and this week is the remaining four steps you can take to manage workplace conflict.
4. Find common ground
The best way to handle workplace conflict is to start with what you can agree on. Find common ground between the people engaging in conflict. If you are directly involved in the conflict, slow down and focus on results instead of who’s right.
If you are the mediator for conflict resolution between coworkers, observe the discussion and help point out the common ground others may not see.
5. Collectively brainstorm solutions
When deciding how to handle workplace conflict, it can be tempting to problem-solve on your own. Sometimes, it feels easier to work independently rather than collaboratively. However, if you want to achieve a lasting resolution, you will need to motivate your team to get involved.
Brainstorm possible solutions together, and solicit input from everyone involved on the pros and cons of each option until you settle on a solution that feels comfortable to everyone. This will help all team members feel a sense of ownership that can help prevent future conflicts.
6. Create an action plan
Once you have created an open dialogue around workplace conflicts, it is time to resolve them. Just like any other work goal, this requires creating a concrete plan and following through.
Create an action plan and then act on it. It does not matter what the plan is, as long as you commit to it and resolve the conflict as a result.
7. Reflect on what you learned
All conflicts offer an opportunity to grow and become a better communicator. Identify what went well and what did not.
Work with your whole team to gather learnings from the conflict so you can avoid similar situations in the future.
Today, I continue with my narration of personalities and their accomplishments as members of the Ghanaian Diaspora in Finland, with a focus on Mr Joseph Osei Amoah.
Mr Amoah is one of the senior members of the Ghanaian community in Finland and a top member of the Ghana Union Finland, an association of the Ghanaian migrant community in Finland.
He is an active and a well-respected person in the Ghanaian community in Finland. Mr Osei Amoah moved to Finland in the mid-1990s, and he has lived in Helsinki all this time.
Accomplishments and honours
It is important to recount accomplishments as part of the success stories of the personalities of Ghanaian descent in Finland in order to highlight their exploits both within the Ghanaian migrant community and in the wider Finnish society.
Mr Amoah holds a Master’s degree in Demography from the University of Helsinki. At the time he came to Finland in 1994, he had majored in Economics at the Bachelor’s level at the Kwame Nkrumah University of Science and Technology (KNUST).
Sometimes affectionately called “Chairman” in the Ghanaian migrant community, Mr Osei is a former Chairman of the New Patriotic Party’s (NPP) branch in Finland, assuming office around 2015, a few months after the branch was formed, until 2019 when he did not run again for the elections. He helped to bring vibrancy into the NPP Finland branch.
Religious life
Mr Amoah is a prominent member of the Global Methodist Church in Finland. In spite of his busy working life and other responsibilities, he remains a committed member of the Global Methodist Church in Finland.
He plays a key leadership role in the church, which is attended by many Ghanaian migrants and other African migrants, Finns, and those of other nationalities.
His position in Asanteman Finland
Mr Osei Amoah is an outstanding member of the Asanteman Finland, where he is the Gyasehene, a prominent position as a sub-chief in the Asante (and Akan) royal hierarchy, in the functioning of the traditional authority systemgenerally in Ghana.
The Asanteman Finland is an association formed purposely with the aim of supporting each other as well as to ensure unity among its members and others outside of the group.
One of its top priorities of Asanteman Finland is to display the Asante culture in Finland. Mr Osei Amoah finds this as very important since by upholding the traditional culture and heritage, the association enables its members and especially the young ones to get the chance to learn and appreciate Asante and Ghanaian cultural values. They do this through rites such as marriage, the naming ceremony, and death and funeral rites, which makes the people to learn more of their provenance and not forget their origins.
“My point is that, by displaying the traditional heritage it helps people to learn more about their provenance. For, I think it will be embarrassing to go home and see that even the young ones have much knowledge about how to perform certain rites whilst those of us in the diaspora may be deficient in understanding those practices”, he argued. It is also very important for the young ones who are born in Finland to learn what the culture of their original society is, he continued.
The Finnish educational system
Mr Osei has a lot to say about the Finnish educational system, which he sees as very good. “When we came to Finland, education was free. There were library books and manuscripts readily available in the library, and one could print or make as many photocopies as possible for your studies. There was more flexibility. One could read books and write exams on them for the necessary grades in order to complete your studies”. In his opinion, Ghana could learn much from the Finnish system, which is one of the best in the world.
He said the only initial challenge he found in Finland was how to master the Finnish language, without which it was difficult to get a job befitting one’s status after the studies. But things have changed today and there are many English courses so it is easy to study and get a job that matches your studies, especially in the area of ICT, he said.
His role in the Ghanaian community
Mr Osei Amoah has been very active in the Ghanaian community, as I have indicated earlier. He is still very active in the Ghana Union Finland, and has played a leadership in many functions organised by the Union, as a non-governmental organisation for the Ghanaian migrant community in Finland.
Mr Amoah has been a counsellor and mentor who has guided many young Ghanaian migrants on their career paths and has also been part in settling various kinds of conflicts between opposing parties or persons. In conclusion, I would say Mr Osei Amoah has succeeded in embossing his name in the golden pages of visionary Ghanaians in both Sweden and Finland.
With Dr Perpetual Crentsil
