Features
Ghana: ‘Mourning’ over return to IMF?
Ghana is speedily heading to the International Monetary Fund (IMF) for a fresh bailout, just after over three years, exiting the IMF programme.
Indeed, Ghanaians in recent months, have been feeling debilitating pinch of high inflation record and the impact of the Covid-19 pandemic and the Russia-Ukraine war, despite cuts in Government’s spending to avoid full blown debt crisis.
The Government of Ghana has issued an official statement signed by the Information Minister saying: “The President of the Republic, Nana Addo Dankwa Akufo-Addo, has authorised the Finance Minister, Ken Ofori-Atta to commence formal engagements with the International Monetary Fund, inviting the Fund to support an economic programme, put together by the Government of Ghana.
“This follows a telephone conversation between the President and the IMF Managing Director, Miss Kistalina Georgieva, conveying Ghana’s decision to engage with the Fund.
“At a meeting on June 30th, 2022, cabinet indicated its support for the decision.
“The engagement with the IMF will seek to provide balance of payment support as part of a broader effort to quicken Ghana’s build back, in the face of challenges induced by the Covid-19 pandemic and, recently, the Russia-Ukraine crises.”
Dr Albert Touna-Mama, IMF’s Ghana Country Representative, has confirmed that Ghanaian officials have contacted the Fund to request for assistance with the country’s own economic plan.
A tweet by Dr Touna-Mama says: “The IMF stands ready to support Ghana in restoring macro-economic stability, safeguarding debt sustainability and prompting inclusive and sustainable growth.”
The Government had previously stated emphatically, not to seek a bailout from the IMF again, especially when the country completed its last IMF programme in 2018, assuring that it has the capability of managing the nation’s economy efficiently.
Indeed, just a few weeks ago, the Finance Minister had re-stated the government’s aversion to suggestions for an IMF option in the face of the crippling difficulties confronting the Ghanaian economy, insisting that Ghana has the resources to prudently manage its economy.
For months, the government fought very hard to approve and implement a 1.5 per cent levy on electronic transactions.
Among many arguments, the government said the E-Levy was a direct substitute for a possible bailout from the IMF, in the face of the country’s growing economic challenges.
For instance, the New Juaben South Member of Parliament, Michael Okyere Baafi, in one of such arguments in defence of the Government said; “falling on the IMF for a bailout means, we cannot manage our own economy and that they should come to our rescue.”
“So, they will tell you that the first thing you have to do, is to cut your coat according to your size.
“And they will direct the Government to cancel the Free Senior High School programme, which is only a political decision and not an entrenched constitutional issue.”
Painfully, the government has eaten back its own words and since the announcement of its decision to “dance again” with the IMF, many Ghanaians have been “mourning” and expressing “hot” anger over the decision, contending that the IMF will be pushing “bitter pills” down the throats of Ghanaians in the name of a bailout.
Really, “mourning” is the outward expression of one’s grief. Grief is the internal feeling given to the experience of loss. Examples include fear, panic, pain, yearning, anxiety and emptiness.
Synonyms for “mourning” include wailing, weeping, sadness, despair, heartache, shiva and lamentation.
Some critics of government’s decision to return to the IMF say: “Election related expenditures, travel expenses and national cathedral expenses did not indicate that Ghana was really in distress.
“Rather, unexplained high borrowing beyond unsustainable levels, entangled the in-built resilience of the economy as interest payment burden, undermined fiscal prudence.
“While policy credibility and confidence have been compromised and mutilated.”
Others also argue that:”Though we have global economic challenges, not all countries are going to the IMF due to the pandemic and the Russia-Ukraine war.
“In terms of expenditures and funds related to Covid-19, Ghana experienced positive net benefits as the funds raised were more than the expenditures incurred.
“So, if the fresh and ongoing engagement with the IMF is pandemic induced, then it is mismanagement and corruption.
“Really, the intention of government to engage the IMF is to stabilise the economy and learn some basic lessons of prudence and productive expenditures, as statutory payments to many state institutions are even in several months arrears.”
Charles Robertson, global chief economist at the London-based Renaissance Capital, however, says:” It makes sense for Ghana to seek cheap IMF financing as bond markets were shut to the country.”
According to Robertson; “Ghanaian notes have been trading at distressed levels, amid concerns that the government will not be able to refinance foreign debts after the pandemic, and the Russia-Ukraine war sent borrowing costs soaring.”
Robertson says; “Ghana, just saying that they will begin talks with the IMF, will help open the door to them eventually, to access the international market.”
With Ghana having started engagement with the IMF for a very fresh bailout, the seeming “mournful” question on the lips of many is: “Why should we go back again to ‘dance’ with the IMF and suffer ‘broken limbs’?”
Alternatively, as a nation, what shall we do to avoid running to the IMF, again and again?
Contact email/ WhatsApp of author:
asmahfrankg@gmail.com (0505556179)
By G. Frank Asmah
Features
The Prophet part 4
Antobam woke up with a terrible headache. He checked the time on his mobile phone, 2:30 am. “What! Where is the money?” He asked aloud. “Where are those girls? Why did I drink so much of that whisky? What were those two girls up to?” He sat up on the bed and noticed a bulge close to the pillow.
He lifted the mattress and picked up the newspaper wrappers with the neatly arranged notes. He saw the neatly written record of the value of the notes. No, those girls are not thieves.
“It was my mistake. If I hadn’t drank myself to sleep they would be here in bed with me, giving me the time of my life. Pretty girls, those two. And so loyal and honest. Tomorrow will be different.”
“I will not drink any whisky, and I will show them that I am a real man. Just then he heard the whispers. Very soon it will be time, they seemed to be saying. This is an important day.”
The gold dealer will bring lots of money. Give him some of the liquid to drink, and we will prepare him. He will do very big business, and he will give you anything you ask for. There will be more miracles and testimonies today.
Antobam smiled to himself. “I am going to be a very rich man in only a few days man. Money, power, and women. Wow! Antobam got to the grounds at 5, but there were quite a number of people waiting.
Mr Kwame Dofu was among them. He greeted them all, and they came around to shake his hand. “My brothers and sisters, I assure you that whatever your problem is, you will not go home without a solution.” Shouts of “Amen” “thank” you Osofo and “you are a true man of God” responded.
“Please take your seats, and start talking to the great one about whatever bothers you. Before the service is over, there will be a solution.” He waved Mr Dofu over, and went with him to the wooden structure that serves as a temporary office.
“My brother, I have done quite a lot of work on the issue you came to see me about. I have prepared a special, powerful package for you. Take this, drink it, and go back to your business. I want to see you in two weeks.”
Beaming with smiles, Mr Dofu drank the foul smelling liquid in two gulps, said a big thank you to Antobam and took his leave. “I believe you, Papa Osofo. And I assure you that I will reward you, big time.”
Just when Osofo Antubam finished with Mr Dofu, Mary and Suzzie went over to him. “Good Morning ladies. I am very sorry about yesterday. I drank too much of the stuff you gave me. Today will be different, I assure you.”
“Don’t worry, Osofo. Since you are now setting things up, our main concern now is to help you to put things in place, and to make you comfortable. We are always there to serve you. This morning, Osofo, we want to go and clean up your place, and prepare something nice for you when you close.
And before coming to church, we will pass by the bank and collect the forms. After you have signed them, the account will be open. You can check the payments anytime and, of course, issue cheques whenever you need money.”
“Suzzie and Mary, I am happy I picked the two of you from the very start. Listen, I will take good care of you, okay? Here is some money. Buy whatever you need for the errands you have mentioned.
And here is the key. Please come back as early as you can. You know I need you here.” The service was very lively. The lively singing of praise songs was followed by one and a half hours of testimonies.
Most of them related to money – big sales, new jobs and overdue debts paid. But there were also testimonies about healing. Barren women had taken seed, and, of course, several men who had lost their bedroom authority had regained them, to the delight of their partners.
As he had promised, Antobam preached for only 30 minutes, exhorting the congregation to attend church regularly, pay their tithes and offerings, and strictly follow his ‘directions’ for securing solutions to their problems.
After another round of praises during which the congregation danced to the floor to drop their offering, he closed the service, grabbed the big bowl which was full to the brim with money, and moved to his desk. A long queue was quickly formed at the desk.
Meanwhile, Mary and Suzzie had gone to give Antobam’s place quite a decent look. A new bedsheet and pillows, a secondhand carpet and four plastic chairs placed in the verandah had done the trick.
They also prepared two fish and chicken stews. After all these, they rushed to the National Savings Bank and collected application forms for opening current and savings accounts.
They joined the service a few minutes before the main session closed. Antobam looked round and saw, to his relief, Mary and Suzzie moving towards him. “Hello ladies. What have you been up to?” “Quite a bit, Osofo. We’ve just collected your drink. Here you are. We’ve made a few changes at your place. I think you will like it. You will also have something nice to eat. Now, here are the forms for the savings and current accounts.
If you will sign them, the bank will open the account. From today, we can pay all monies direct into the account.” ‘How can I thank you, ladies?” “You don’t need to thank us,” Suzzie said. “It is our duty to help a man of God succeed.” “Okay, my ladies, please take the offerings and count them as you did yesterday.
You can add the payments made after the consultations. Will it be possible to pay them into the account today?” “Yes,” Mary said. “The bank closes at four. If we leave here at three, we would be there just in time.”
The two friends started counting, as Osofo Antobam gave his clients his directions for solving their problems. On quite a few occasions he closed his eyes as if he was receiving direction from above on what to do.
But as the fetish priest at the Nana Kofi Broni shrine and the dwarfs had assured him, the solutions would certainly be provided. Having heard the huge testimonies earlier in the day, the clients parted with substantial sums of money in expectation.
By Ekow de Heer
Features
The issue of spiritual father in our churches
A student was supposed to go to school as the natural cause of events should be when universities or schools in general opens but this was not the case in a certain young man’s life.
He decided to postpone his trip because apparently he could not get to meet his pastor, his spiritual father. The question is, should this spiritual father die, will the young man’s life come to an end?
Does it mean in such an instance, he is going to curtail his education? This is a worrying trend in a lot of churches where the pastors use this notion of spiritual father to manipulate members especially the youth.
Some unscrupulous pastors utilise this spiritual father concept to have affairs with gullible young ladies in their churches.
Now with homosexuality gradually making inroads into some of the churches, young men are becoming vulnerable to pastors who have hidden homosexual inclinations.
This spiritual father concept is a Biblical concept that runs through both the Old Testament as well as the New Testament. We see it in 2 Kings 4:12 where Gehazi is serving Elisha and also in the New Testament we see Paul relating to Timothy in 1 Timothy 1:2 as a Spiritual Father.
In fact, the concept of spiritual father is a good thing if executed according to the word of God since it helps in guiding the younger ones. However, it becomes problematic when it is being executed by unscrupulous wolves in sheepskins as described by Jesus in Mathew 7:15.
I see it as a way that these unscrupulous so-called men of God maintain their hold on the congregants so they do not question their unchristian actions.
One of the things I have observed since I got born again many years ago is that, any pastor who often insists that members recognise that he is their spiritual father is a warning sign that he is doing some wrong things or is about to indulge in some wrong things.
A parent complained about how his daughter was being influenced by a pastor of the church she attends and how worried he was. I am sure there are many parents out there with stories to tell about how their wards are being made to see their pastors almost like their Jesus.
These pastors have managed to make their congregants so loyal to them and to believe in them so much that it is terrifying, as a parent.
The way things are going, an immediate intervention is required otherwise I am not a prophet of doom but I forsee unfortunate instances where parents burst into church auditoriums and star shooting some Pastors out of frustration and anger.
We cannot look on unconcerned as a society and allow unscrupulous fraudsters using the name of God to create problems for families. My recommendation is for a certain amount of regulation in order to bring some sanity in religious practices.
I agree that ordinarily regulating religious practices makes it a bit restrictive in terms of freedom of worship as enshrined in our constitution but given the way things are going, a bit of regulation will not be out of place.
Disgusting stuff are being attributed to some men of God. There are cases of manipulation of young ladies and sometimes married women by so called men of God and it is bringing Christianity and therefore the name of the Lord into disrepute.
Christianity is gradually losing its attractiveness as a result of the negative reportage resulting from disgusting stuff happening in Christian circles. The way some pastors have been manipulating congregants to take money from them leaves much to be desired to the point where they are convincing some of the youth to give out their phones. May God help us.
By Laud Kissi-Mensah
