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Ghana-IMF meeting

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Since July 2022, when the Government of Ghana decided to go to the International Monetary Fund (IMF) for assistance, many varied opinions have been expressed concerning this move with the Minority saying that they have been vindicated because the government should have indicated its intention far earlier than it did.

Since 2017, the Akufo-Addo Administration has been able to manage the country very well, ensuring that GDP growth for 2017, 2018 and 2019 were very impressive. Introduction of policies such as One District One Factory, Planting for Food and Job as well as many other programmes have all put the country on course towards rapid economic recovery. It was thought that this would be the general trend in the ensuing eight to 10 years for the country.

UNFAVOURABLE CONDITIONS

Unfortunately, this was not to be and the entire world was hit adversely by certain unfavourable economic conditions. These unfavourable conditions brought economic difficulties which made life unbearable for the country.

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The outbreak of the COVID-19 which affected Ghana and the rest of the world forced the world to spend huge sums of money to fight the pandemic. President Akufo-Addo made it clear that he would prefer to fight hard and save lives rather than lose these lives. To him, once lives are lost, they cannot be brought back, so it was better to use available resources to fight the pandemic.

Even if all resources are depleted while lives are saved, there would be an opportunity to fight for economic recovery and improve upon the lives of the people in order to bring the standard of living to a satisfactory level. This appears to be what is happening now and this is one reason the government has been forced to go to the IMF for assistance.

HIGH CRUDE OIL PRICES

Another reason Ghana has been forced to go to the IMF is the outbreak of the Russia-Ukraine war which has brought untold hardships to countries in the world. Crude oil prices rose far above 100 dollars per barrel and countries in the world, both developed and developing, had no choice but to pay for unbearable fuel prices.

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In Europe, Canada, America and elsewhere in the developed world, inflation rose very high and made economic life extremely difficult. The situation was even worse in developing countries whose incomes were generally low. In both developed and developing countries, this trend of unfavourable economic life has continued till today.

IMF BAILOUT

As a result, over 100 countries from various parts of the world had to go to the IMF for assistance.

This is the fundamental reason Ghana, like many other countries in Africa, had to turn round to the IMF for economic and financial bailout. Seen in this way, the reason for Ghana’s decision to deal with the IMF is not due to mismanagement of the economy. Rather, the unfavourable external economic conditions are the factors that have pushed the country from its economic growth to an area of unbearable pressure which has forced the government to go for IMF bailout.

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COMPREHENSIVE DSA

The Government of Ghana commenced discussions with the International Monetary Fund on Monday, September 26, 2022. According to the government, a comprehensive Debt Sustainability Analysis (DSA), which is a key requirement for securing an IMF-supported programme is currently ongoing.

This is a necessary requirement to ensure that Ghana’s debt is on a sustainable path. A release by the Ministry of Finance on September 26, 2022, said, “The Government of Ghana is putting together a comprehensive post-COVID-19 economic programme which will form the basis for the IMF negotiations.

The COVID-19 bailout programme has become necessary because Ghana was forced to deplete its entire resources in combating the disease. Having gone through this experience, it has become necessary for government to put down a programme to justify why the country needs a bailout from the IMF.

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WHAT IMF PROGRAMME SEEKS TO ESTABLISH

The programme seeks to establish a macro-fiscal path that ensures debt sustainability and macroeconomic stability underpinned by key structural reforms and social protection. The IMF mission that arrived in Ghana on September 26, 2022, is currently in talks with the Ministry of Finance and the Bank of Ghana.

If the IMF team leaves the country, negotiations will still continue between Ghana and the Fund until an agreement is reached. It is this agreement that will be implemented by the government of Ghana under the supervision of the Fund.  

The Debt Sustainability Analysis (DSA) is an IMF-supported programme which is anchored in the analysis of a country’s capacity to finance its policy objectives and service the ensuing debt without unduly large adjustments, which could otherwise compromise its stability.

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IMF FORMAL FRAMEWORK

To this end, the IMF has developed a formal framework for conducting public and external Debt Sustainability Analysis (DSA). This serves as a tool to better detect, prevent and resolve potential crises.

Here, the framework has been made operational since 2002. The objective of the framework is threefold. In the first place, it accesses the current debt situation. Here, it looks at its maturity structure, whether it is huge, small, bearable etc.

Secondly, the framework identifies vulnerabilities in the debt, that is, whether there are loose ends or other conditions that will result in repayment difficulties. This also helps to access the debt situation.

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Finally, the framework helps to examine cases where such difficulties can emerge to create problems in terms of the restructure of the debt and whether payment can be smooth or difficult. At the end of it all, the Fund would be able to know the position of the debt of a country.

FRAMEWORK IMF TO DETERMINE DSA

Ultimately, this framework would help the IMF to determine the Debt Sustainability Anslysis of a country and come up with solutions for the way forward. The Debt Sustainability Analysis (DSA) is not applied to all countries in the same way. The Fund examines each country on case by case basis.

What this means is that two countries may have similar situations but the IMF may apply different programmes to different countries, depending on available conditions and programmes and their justifications. When all these things have been done, the nature of the bailout programme would now be made available to the country concerned.

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As of now, no one knows the nature of the programme to be implemented by the IMF. Negotiations would have to be complete before the IMF programme and its conditionalities can be made available. Thus, members of the Minority and their cohorts cannot assume that they know what the outcome would be. If this is the case, then their exaggerations of the situation must stop since it would not serve the interest of anyone in the country.

Email address/whatsApp number of author:

Pradmat201@gmail.com (0553318911)

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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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