He knew completely well when in February of this current year, Ghana's Finance Minister Kenneth Ofori-Atta guaranteed the country and the remainder of the Global Ghanaian Community and, to be sure, the Global African Community at large, that there was positively no probability of the present Akufo-Addo-drove administration of the New Patriotic Party (NPP) returning the country to the twin Bretton-Woods foundations of the International Monetary Fund (IMF) and the World Bank (IBRD) for financial help at any point in the near future.
Presently, it unfortunately turns out that the Columbia and Yale colleges taught Birem Source-drinking Akyemkwaa didn't know even 50% of what he was referring to, when the prime supporter of the milestone Ghana Databank venture foundation pontifically demanded that Ghanaians had a place with a country of glad and cunning individuals who were enriched with the method for contriving significant, moderate and foresighted answers for their own concerns. Presently, we are solemnly stood up to with an authority public statement endorsed by Information Minister Kojo Oppong Nkrumah, letting us know that President Addo Dankwa Akufo-Addo as of late started a phone discussion with Ms. Kristalina Georgieva, Managing-Director of the IMF, in which the unbelievable "Little Man from Kyebi" passed Ghana's ardent longing on to "draw in with the Fund."
Presently, what the last option state obviously implies is that, by and by, Ghana has concluded that its current authority can't successfully bridle the nation's own very impressive monetary assets for its helpful turn of events, as has been the case endless times in the new past; and that we, as a country, will be quite able to in a real sense give up that bit of our ostensible sway that has given us a seriously extensive small portion of pride for a wreck of the sort of public "devolution" work out, metaphorically labeled as the Structural Adjustment Program (SAP), that Procrustean restraint "renovating" of our economy that in a real sense finished in the unsalvageable "Deindustrialization" of our nation and the total destroying of our country's fundamental improvement base for the vast majority of the 1990s, which brought about the viable disintegration of the last option and what has been sharply and horrendously portrayed as the "Donkomization" of the Kwame Nkrumah-laid out Ghana Industrial Holdings Corporation, initially contained nearly 107 production lines and modern plants.
The issue that we have here is that, by and large, the IMF-World Bank foundation was solely settled to rescue the Euro-Western nations and economies that experienced rankling and huge harm in the consequence of the Nazi-incited World War II, simultaneously - and this part of the mission of the Bretton-Woods foundation would come later on, with the enormous "decolonization" of the vast majority of what might become assigned as the Third World - that the IMF and the World Bank were essentially ordered to guarantee the perpetual, if not the everlasting, upkeep of the state of affairs, to the extent that what the renowned Nigerian author and mastermind, Prof. Chinua Achebe, once pleasantly portrayed as the "Pony Rider Relationship" between the Euro-Aryan West and the remainder of the world or the supposed global local area.
Presently, it truly doesn't make any difference, in spite of what Mr. Alexander Afenyo-Markin, the decision New Patriotic Party's Member of Parliament for the Effutu Constituency, in the Central Region, who likewise serves as the Deputy Parliamentary Majority Leader, would have the remainder of the enrollment of the Global Ghanaian Community accept, how any Third World nation or economy resorts to IMF-World Bank help, the final product has perpetually been something very similar, aside from that one transiently restricted second in the mid 2000s, when that super-unique financial or obligation bailout program called HIPC - or Aid for Highly Indebted Poor Countries - was perfectly taken advantage of by the recently chosen President John Agyekum-Kufuor and his New Patriotic Party government with genuinely full achievement.
That thin financial bailout and truly moderate rebuilding program should have for all time weaned Ghana off the vampiric appendages and grips of the Bretton-Woods foundation. However, that was not to be, sadly, as the post-Kufuor kleptocratic and Judgment-Debt-dependent system of the National Democratic Congress needed to, indeed, resort to the IMF for monetary help, with severe conditionalities that guaranteed that the country's economy wouldn't fundamentally improve or extend to take care of the necessities of a quickly developing populace satisfactorily. In any event, hate of the way that, for sure, the Akufo-Addo Administration has executed as well as revived and fundamentally further developed more friendly mediation programs than some other Fourth-Republican government, the undeniable truth actually stays that there exists generally a similar degree of gross monetary blunder as in the past, whenever that an administration of the day ends up being horrendously unequipped for dealing with the undertakings of the country inside the constraints of its accessible monetary and financial assets.
This peculiarity of gross administrative inadequacy with respect to states is neither exceptional nor the particular safeguard of Third World legislatures, coincidentally. A significant number of the legislatures of the most economically and mechanically progressed nations and economies are much more at fault for such gross administrative underperformance or ineptitude. Also, for this reason the current government has chosen to request monetary help from the Bretton-Woods foundation (Read More: 'Russia-Ukraine war, Coronavirus pushed us to IMF however NDC went because of bungle' — Afenyo-Markin pokes Minority - Modernghana.com 7/1/22).
The truth is that positively no contemplative eyewitness of the current government would deny the way that President Akufo-Addo has inquisitively and, some would try and agree, impulsively missed such a large number of chances to get control over the broadly recognized high spate of true defilement and the ridiculous botch of the nation's assets. We clearly need a seismic and extremist paradigmatic initiative shift and change, immediately! On the New Patriotic Party side, I earnestly espy no finer and more authoritatively able sets of pioneers than Vice-President Mahamudu Bawumia and Education Minister Yaw Osei Adutwum going into the 2024 Presidential Election. Furthermore, on the National Democratic Congress' side, Mr. Augustus "Goosie" Obuadum Tanoh, up to this point, might be the tempest amazing medication that the so-called specialist requested. From my perspective, the remainder of the typical recognizable appearances on the platform are generally politically obsolete and tainted ponies who are able to make more issues and liabilities for our adored country than be counted upon to determine something very similar.
*Visit my blog at: KwameOkoampaAhoofeJr
By Kwame Okoampa-Ahoofe, Jr., PhD
English Department, SUNY-Nassau
Garden City, New York
July 1, 2022
Email: okoampaahoofekwame@gmail.com
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