COMMISSIONING, COMMISSIONING, COMMISSIONING… THE ELECTIONS ARE NEAR!

EVERYBODY REALISES THAT THE GENERAL ELECTIONS IN GHANA ARE FAST APPROACHING. EVERY DAY, AT LEAST TWO OR THREE NEW PROJECTS ARE COMMISSIONED. BE IT RAILWAY LINES OR RAILWAY STATIONS, MARKETS, SCHOOLS, OR, JUST LIKE TODAY, A POWER PLANT IN ACCRA, OBVIOULY ON A HILL THAT WAS ONCE USED FOR RUBBISH OR SOMETHING LIKE THAT. Continue reading “COMMISSIONING, COMMISSIONING, COMMISSIONING… THE ELECTIONS ARE NEAR!”

BANK OF GHANA REDUCES MONETARY POLICY RATE – SOMETHING REASONABLE OR ONLY COSMETICS?

ACCORDING TO THE MPC PRESS RELEASE, ISSUED BY THE BANK OF GHANA ON 21ST NOVEMBER, 2016, THE CENTRAL BANK LOWERED THE MONETARY POLTCY RATE BY 50 BASIS POINTS FROM 26% TO 25.5% (1). IS IT A SURPRISE MOVE AS SIGN THAT THE BANK OF GHANA WILL HALT THE TIGHT MONETARY POLICY, IS IT A CHRISTMAS GIFT IN ADVANCE FOR THE GHANAIAN POPULATION, HAS IT SOMETHING TO DO WITH THE UPCOMING ELECTIONS, OR IS IT JUST “ECONOMICAL COSMETICS”? Continue reading “BANK OF GHANA REDUCES MONETARY POLICY RATE – SOMETHING REASONABLE OR ONLY COSMETICS?”

WHICH ICT HUB DID PRESIDENT MAHAMA LAUNCH SOME DAYS AGO?

THERE WAS A HEADLINE IN SOME OF THE GHANAIAN NEWSPAPERS SOME DAYS AGO THAT PRESIDENT MAHAMA LAUNCHED – ANOTHER – ICT HUB IN ACCRA. WHEN I SURFED THE INTERNET TO FIND OUT HOW MUCH IT WILL COST, TO COMPARE IT WITH THE COSTS INVOLVED IF WE PUT A SMALLER ICT CENTER IN EVERY DISTRICT OF THE COUNTRY, INTERESTINGLY ENOUGH, I DID NOT FIND ANY HINT ON A LAUNCH OF AN ICT HUB IN ACCRA IN THE LAST DAYS. THE ONLY ARTICLES I FOUND WERE CONCERNING THE LAUNCH OF A PROJECT CALLED “HOPE CITY” IN MARCH, 2013, WITH THE PLANNING OF “THE HIGHEST TOWER IN AFRICA” WITH A HEIGHT OF 270M AND A COST OF 10 BILLION US$. THIS PROJECT OBVIOUSLY RAN INTO TROUBLE FOR VARIOUS REASONS, BECAUSE ABOUT TWO YEARS LATER, THERE WAS A STORY BY AL JAZEERA ENGLISH THAT THE PROJECT IS IN JEOPARDY. WHICH ICT HUB DID PRESIDENT MAHAMA NOW LAUNCH SOME DAYS AGO – WAS IT A NEW ICT HUB OR WAS IT A RE-LAUNCH OF THE “HOPE CITY” PROJECT WHICH OBVIOUSLY AT THE TIME OF ITS FIRST COMING UP WAS TOO MONSTROUS? I WOULD REALLY LIKE THE GOVERNMENT OF GHANA PUBLISHING DETAILS ABOUT THIS…

ONE FACTORY IN EVERY DISTRICT – AND WHAT ABOUT ONE ICT CENTER IN EVERY DISTRICT?

ONE PARTY IN THE GHANA ELECTIONS 2016 PROCLAIMED THAT – IF ELECTED – THEY WILL BUILD ONE FACTORY IN EVERY DISTRICT. A GOOD IDEA – ALTHOUGH RELATIVELY OLD, BECAUSE THE ONE WHO FIRST BROUGHT THIS IDEA UP WAS THEN NOT ELECTED FLAG BEARER OF THIS PARTY.
BUT ANOTHER QUESTION ARISES: WHY NOT BUILDING ONE ICT CENTER IN EVERY DISTRICT? INSTEAD OF HIGHFLYING PROJECTS CONCENTRATING IN ACCRA (WHERE IS THE DECENTRALISATION?) THE GOVERNMENT SHOULD THINK ABOUT BRINGING ICT TO THE PEOPLE OUTSIDE THE GREATER ACCRA REGION AND PERHAPS KUMAST. THESE ICT CENTERS DON’T NEED TO BE LARGE – ONE RESEARCH CENTER WITH PERHAPS TEN COMPUTERS OR LAPTOPS FOR PEOPLE WHO WANT TO DEVELOP SOFTWARE OR OTHER ICT-RELATED PROJECTS, ONE OR TWO CLASSROOMS FOR TRAINING TEACHERS IN ICT, SO THAT THEY ARE EQUIPPED TO TEACH THE STUDENTS WHAT THEY HAVE LEARNED; ONE ROOM WITH ELECTRICITY AND INTERNET CONNECTION, WHERE PEOPLE CAN GO WITH THEIR OWN DEVICES AND GET CONNECTED TO THE INTERNET; AND OF COURSE A CONSTANT AND RELIABLE INTERNET ACCESS.

THROUGH RECKLING BLOG, I WILL – WITHIN THE NEXT FOUR WEEKS – DEVELOP A PLAN WITH COST ANALYSIS, HOW FEASIBLE SUCH A LOCAL ICT CENTER WOULD BE, AND PUBLISH THE PLAN HERE. PERHAPS THE PARTY WHICH FORM THE GOVERNMENT AFTER THE ELECTIONS OF 7TH OF DECEMBER, 2016 WILL THEN MAKE SOME DETAILS OF THIS PLAN REALITY.

LOOK OUT FOR FURTHER INFORMATION!

FINANCE & INVESTMENT TIP NO. 4

WITH A HUMBLE APOLOGY FOR NOT BEING ABLE TO PUBLISH A FINANCE & INVESTMENT TIP LAST WEEK, HERE MY TIP NO. 4:

NO MATTER WHAT INVESTMENT PROFILE YOU HAVE – WHETHER CONSERVATIVE OR PROGRESSIVE -, IT IS ADVISABLE TO PUT ABOUT 5% OF YOUR INVESTMENT IN GOLD, AS A SAFE HAVEN SO-TO-SAY.

WHETHER YOU BUY GOLD BARS OR GOLD COINS LIKE THE SOUTH AFRICAN KRUGER RAND, DOES NOT PLAY ANY ROLE – THE VALUE IS ALWAYS THE SAME. IN SOME COUNTRIES, YOU CAN EVEN BUY GOLD CERTIFICATES. BUT ANOTHER TIP IN THIS CONNECTION: IF YOU BUY GOLD, DON-T KEEP IT AT HOME, UNLESS YOU HAVE A SAFE OR SOMETHING LIKE THAT IN YOUR HOME. MANY BANKS ALSO OFFER SAFES TO RENT WHERE YOU CAN KEEP YOUR VALUABLES.

IMF AND GHANA PART 3 (DEBT SUSTAINABILITY)

BEFORE WE GO INTO DETAILS OF GHANA’S DEBT SUSTAINABILITY AND WHAT THE IMF – AND THE GOVERNMENT OF GHANA – THINK ABOUT IT, WE MUST FIRST OF ALL SEE HOW DEBT SUSTAINABILITY IS DEFINED.
THE GENERAL DEFINTION OF DEBT SUSTAINABILITY AS “THE ABILITY TO MEET ITS DEBT OBLIGATIONS WITHOUT REQUIRING DEBT RELIEF OR ACCUMULATING ARREARS (1). BUT MANY DEVELOPING COUNTRIES CONSIDER DEBTS SUSTAINABLITY “FULLY POSITIVE ONLY IF IT IS PROVIDING ENOUGH FINANCE TO REACH THEIR OVERALL NATIONAL DEVELOPMENT GOALS (2). IN THIS ARTICLE, I WILL MAINLY REFER TO THE GENERAL DEFINITIONM, BECAUSE IT IS THE BASIC OF THE ASSESSMENT OF THE IMF. I WILL, HOWEVER, GET BACK TO THE MORE EXTENDED DEFINITION OF THE DEVELOPING COUNTRIES WHENEVER IT IS NECESSARY. Continue reading “IMF AND GHANA PART 3 (DEBT SUSTAINABILITY)”

DONALD TRUMP PRESIDENT-ELECT IN THE UNITED STATES

I’VE NOT YET DECIDED WHETHER I WILL COMMENT EXTENSIVELY ON TRUMP BEING PRESIDENT-ELECT IN THE UNITED STATES OF AMERICA. ONLY A SHORT REMARK: WHAT I HEARD FROM HIM DURING HIS CAMPAIGN, ESPECIALLY CONCERNING ECONOMICAL ISSUES, REMINDED ME MUCH OF THE NATIONAL-SOCIALIST IDEOLOGY. I’M NOT SAYING THAT TRUMP IS A FASCIST, BUT SOMEONE WHO WANTS TO PUT, E.G., A 35$ TAX ON CARS THAT ARE PRODUCED BY AMERICAN FIRMS WHICH WENT OUTSIDE THE COUNTRY TO PRODUCE CHEAPER AND THEN IMPORT THE CARS INTO THE UNITED STATES TO BE SOLD, IS MORE THAN A PROTECTIONIST – NOT TO TALK ABOUT INTENDED WALLS ON THE BORDER TO MEXICO.
A BILLIONAIRE WHO SAYS HE SPEAKS FOR THE US-AMERICAN WORKERS IS PER SE VERY SUSPICIOUS.
AMERICA BE CAUTIOUS, AND WORLD, BE CAUTIOUS!

IMF AND GHANA – PART 2

IN THIS PART OF THE ARTICLE SERIES “IMF AND GHANA”, I WILL MAINLY LOOK AT THE ROLE COCOA, GOLD AND OIL PLAY IN THE POSITION OF THE IMF TOWARDS GHANA. AS THE SINGLE ARTICLES WOULD BE TOO LONG, I WILL FOCUS ON DEBT SUSTAINABILITY THE ADDITIONAL GRAPHS IN THE IMF REPORT LATER. ANY INCONVENIENCE IS DEEPLY REGRETTED, BUT IT IS SURELY IN THE INTEREST OF THE READER TO MAKE THE VARIOUS ARTICLES NOT TOO LONG.

COMMODITIES (COCOA, GOLD, AND OIL)

THE COMMODITIES COCOA, GOLD, AND OIL ARE MENTIONED SEVERAL TIMES IN THE IMF REPORT, BUT ALWAYS IN THE SAME CONTEXT, AND MOSTLY, THEY DON’T PRESENT ANY ANALYSIS ON THEIR OWN, BUT REFER TO INFORMATION THEY RECEIVE FROM THE GOVERNMENT OF GHANA. Continue reading “IMF AND GHANA – PART 2”