He knew dead well once in Feb of this year, Ghana’s government minister Kenneth Ofori-Atta assured the state and also the remainder of the world African country Community and, indeed, the world African Community at large, that there was absolutely no chance of the current Akufo-Addo-led government of the New chauvinistic Party (NPP) returning the country to the dual Bretton-Woods institutions of the International fund (IMF) and the IBRD (IBRD) for economic help anytime soon.
Now, it sadly seems that the Columbia and Yale universities-educated Birem Source-drinking Akyemkwaa didn't understand even half what he was talking about, once the founding father of the landmark African nation Databank investment institution pontifically insisted that Ghanaians belonged to a nation of proud and ingenious folks that we tend tore endowed with the means that of fashioning meaningful, progressive and longsighted solutions to their own problems. Now, we are gravely confronted with a political candidate handout signed by data Minister Kojo Oppong Nkrumah, telling United States that President Addo Dankwa Akufo-Addo recently initiated a conversation with Ms. Kristalina Georgieva, Managing-Director of the IMF, within which the legendary “Little Man from Kyebi” sent Ghana’s avid desire to “engage with the Fund.”
Now, what the latter phrase clearly means that is that, once again, African nation has set that its gift leadership cannot effectively harness the country’s own quite extended economic resources for its healthful development, as has been the case infinite times within the recent past; which we, as a nation, are going to be only too willing to virtually surrender that little bit of our nominal sovereignty that has given us quite an considerable small indefinite quantity of pride for a large number of the sort of national “devolution” exercise, euphemistically labelled because the Structural Adjustment Program (SAP), that Procrustean strait-jacket “remodeling” of our economy that virtually culminated within the irreparable “Deindustrialization” of our country and also the complete dismantlement of our country’s seminal development base for many of the 1990s, that resulted in the effective dissolution of the latter and what has been bitterly and painfully characterised because the “Donkomization” of the Kwame Nkrumah-established African nation Industrial Holdings Corporation, originally comprised of some 107 factories and industrial plants.
the matter that we've here is that, historically, the IMF-World Bank institution was nearly completely established to bail out the Euro-Western countries and economies that suffered blistering and big injury in the aftermath of the Nazi-provoked warfare II, at constant time – and this side of the mission of the Bretton-Woods institution would return later on, with the large “decolonization” of most of what would become selected because the accumulation – that the IMF and also the IBRD were much mandated to confirm the perennial, if not the eternal, maintenance of the standing quo, to that degree as what the notable Nigerian author and thinker, Prof. Chinua Achebe, once picturesquely delineate as the “Horse-Rider Relationship” between the Euro-Aryan West and the remainder of the planet or the questionable international community.
Now, it extremely doesn't matter, contrary to what Mr. Alexander Afenyo-Markin, the ruling New chauvinistic Party’s Member of Parliament for the Effutu Constituency, within the Central Region, who conjointly doubles because the Deputy Parliamentary Majority Leader, would have the remainder of the membership of the world African country Community believe, however any accumulation country or economy resorts to IMF-World Bank assistance, the top result has nearly invariably been the same, apart from that one temporally restricted moment in the early 2000s, once that super-special economic or debt bailout program known as HIPC – or Aid for extremely Indebted Poor Countries – was opportunely broached into by the freshly electoral President John Agyekum-Kufuor and his New chauvinistic Party government with fairly resonant success.
That rarefied economic bailout and avowedly progressive restructuring program was speculated to have for good weaned African nation off the vampiric tentacles and clutches of the Bretton-Woods establishment. however that wasn't to be, unfortunately, because the post-Kufuor kleptocratic and Judgment-Debt-addicted regime of the National Democratic Congress had to, once again, resort to the IMF for money assistance, with tight conditionalities that ensured that the country’s economy wouldn't considerably improve or expand to adequately cater to the needs of a aggressive population. At any rate, in spite of the very fact that, indeed, the Akufo-Addo Administration has enforced moreover as revived and considerably improved more social-intervention programs than the other Fourth-Republican government, the undeniable fact still remains that there exists roughly constant level of gross economic direction as before, anytime that a government of the day proves to be lamentably incapable of managing the affairs of the country inside the bounds of its accessible money and financial resources.
This development of gross social control incompetence on the a part of governments is neither peculiar nor the special preserve of accumulation governments, by the way. several of the governments of the foremost industrially and technologically advanced countries and economies are even additional guilty of such gross social control underperformance or incompetence. And this can be exactly why the current government has set to solicit economic help from the Bretton-Woods institution (Read More: 'Russia-Ukraine war, covid-19 pushed United States to IMF however NDC went thanks to mismanagement' — Afenyo-Markin jabs Minority - Modernghana.com 7/1/22).
the very fact of the matter is that completely no studious observer of the present government would deny the fact that President Akufo-Addo has curiously and, some would even say, freakishly passed up too several opportunities to rein within the wide acknowledged high spate of official corruption and also the gross direction of the country’s resources. we tend to clearly want a unstable and radical paradigmatic leadership shift and change, pronto! On the New chauvinistic Party side, I sincerely don't spy any higher and additional administratively competent combine of leaders than Vice-President Mahamudu Bawumia and Education Minister Yaw Osei Adutwum going into the 2024 Presidential Election. And on the National Democratic Congress’ side, Mr. Gaius Octavianus “Goosie” Obuadum Tanoh, thus far, is also the storm-perfect medication that the proverbial doctor ordered. As I see it, all the remainder of the standard acquainted faces on stage are principally politically superannuated and jaded horses who are apt to make additional issues and liabilities for our beloved country than be counted upon to resolve the same.
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