He knew lifeless properly as soon as in Feb of this year, Ghana’s authorities minister Kenneth Ofori-Atta confident the kingdom and additionally the the rest of the sector African u . s . Community and, indeed, the sector African Community at massive, that there has been without a doubt no risk of the cutting-edge Akufo-Addo-led authorities of the New chauvinistic Party (NPP) returning the u . s . to the twin Bretton-Woods establishments of the International fund (IMF) and the IBRD (IBRD) for financial assist whenever soon.
Now, it lamentably appears that the Columbia and Yale universities-knowledgeable Birem Source-ingesting Akyemkwaa failed to apprehend even 1/2 of what he become speakme about, as soon as the founder of the landmark African state Databank funding group pontifically insisted that Ghanaians belonged to a state of proud and innovative those who we have a tendency tore endowed with the way that of fashioning meaningful, innovative and longsighted answers to their personal problems. Now, we're gravely faced with a politician handout signed with the aid of using information Minister Kojo Oppong Nkrumah, telling United States that President Addo Dankwa Akufo-Addo currently initiated a communique with Ms. Kristalina Georgieva, Managing-Director of the IMF, inside which the legendary “Little Man from Kyebi” despatched Ghana’s avid preference to “have interaction with the Fund.”
Now, what the latter word surely way this is that, as soon as again, African state has set that its present management can not efficiently harness the u . s .’s personal pretty prolonged financial assets for its healthy improvement, as has been the case endless instances withinside the latest past; which we, as a state, are going to be simplest too inclined to simply give up that little little bit of our nominal sovereignty that has given us pretty an sizeable small indefinite amount of satisfaction for a massive range of the kind of national “devolution” exercise, euphemistically labelled due to the fact the Structural Adjustment Program (SAP), that Procrustean strait-jacket “remodeling” of our economic system that simply culminated withinside the irreparable “Deindustrialization” of our u . s . and additionally the entire dismantlement of our u . s .’s seminal improvement base for some of the 1990s, that resulted withinside the powerful dissolution of the latter and what has been bitterly and painfully characterized due to the fact the “Donkomization” of the Kwame Nkrumah-set up African state Industrial Holdings Corporation, in the beginning made from a few 107 factories and business plants.
the problem that we have got right here is that, historically, the IMF-World Bank group become almost absolutely set up to bail out the Euro-Western nations and economies that suffered blistering and massive damage withinside the aftermath of the Nazi-provoked struggle II, at regular time – and this aspect of the venture of the Bretton-Woods group could go back later on, with the massive “decolonization” of maximum of what could turn out to be decided on due to the fact the accumulation – that the IMF and additionally the IBRD have been a great deal mandated to affirm the perennial, if now no longer the eternal, renovation of the status quo, to that diploma as what the exquisite Nigerian creator and thinker, Prof. Chinua Achebe, as soon as picturesquely delineate as the “Horse-Rider Relationship” among the Euro-Aryan West and the the rest of the planet or the questionable global community.
Now, it extraordinarily would not matter, opposite to what Mr. Alexander Afenyo-Markin, the ruling New chauvinistic Party’s Member of Parliament for the Effutu Constituency, withinside the Central Region, who conjointly doubles due to the fact the Deputy Parliamentary Majority Leader, could have the the rest of the club of the sector African u . s . Community believe, but any accumulation u . s . or economic system lodges to IMF-World Bank assistance, the pinnacle end result has almost continuously been the same, other than that one temporally restrained second withinside the early 2000s, as soon as that super-unique financial or debt bailout software called HIPC – or Aid for extraordinarily Indebted Poor Countries – become opportunely broached into with the aid of using the freshly electoral President John Agyekum-Kufuor and his New chauvinistic Party authorities with pretty resonant success.
That rarefied financial bailout and avowedly innovative restructuring software become purported to have for precise weaned African state off the vampiric tentacles and clutches of the Bretton-Woods establishment. but that wasn't to be, unfortunately, due to the fact the post-Kufuor kleptocratic and Judgment-Debt-addicted regime of the National Democratic Congress had to, as soon as again, lodge to the IMF for cash assistance, with tight conditionalities that ensured that the u . s .’s economic system would not extensively enhance or amplify to safely cater to the wishes of a competitive population. At any rate, notwithstanding the very truth that, indeed, the Akufo-Addo Administration has enforced furthermore as revived and extensively progressed extra social-intervention applications than the alternative Fourth-Republican authorities, the simple truth nevertheless stays that there exists kind of regular stage of gross financial route as before, whenever that a central authority of the day proves to be unluckily incapable of dealing with the affairs of the u . s . withinside the bounds of its handy cash and economic assets.
This improvement of gross social manipulate incompetence at the part of governments is neither bizarre nor the unique hold of accumulation governments, with the aid of using the way. numerous of the governments of the most industrially and technologically superior nations and economies are even extra responsible of such gross social manipulate underperformance or incompetence. And this could be precisely why the cutting-edge authorities has set to solicit financial assist from the Bretton-Woods group (Read More: 'Russia-Ukraine war, covid-19 driven United States to IMF but NDC went way to mismanagement' — Afenyo-Markin jabs Minority - Modernghana.com 7/1/22).
the very truth of the problem is that absolutely no studious observer of the existing authorities could deny the truth that President Akufo-Addo has apparently and, a few could even say, freakishly exceeded up too numerous possibilities to rein withinside the huge recounted excessive spate of reliable corruption and additionally the gross route of the u . s .’s assets. we have a tendency to surely need a volatile and radical paradigmatic management shift and change, pronto! On the New chauvinistic Party aspect, I without a doubt do not secret agent any better and further administratively equipped integrate of leaders than Vice-President Mahamudu Bawumia and Education Minister Yaw Osei Adutwum going into the 2024 Presidential Election. And at the National Democratic Congress’ aspect, Mr. Gaius Octavianus “Goosie” Obuadum Tanoh, for this reason far, is likewise the storm-best medicine that the proverbial physician ordered. As I see it, all of the the rest of the same old familiar faces on degree are basically politically superannuated and jaded horses who're apt to make extra troubles and liabilities for our liked u . s . than depend upon to solve the same.
*Visit my magazine at: KwameOkoampaAhoofeJr
By Kwame Okoampa-Ahoofe, Jr., PhD
English Department, SUNY-Nassau
Garden City, the massive apple
July 1, 2022
E-mail: okoampaahoofekwame@gmail.com
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