Atiwa Writer Writes
THE FIX IT CAMPAIGN; LET’S BE CANDID TO AKUFO-ADDO’S GOVERNMENT
Yes, the government owes the citizens the responsibility to manage the economy well, in order to bring relief to the lives of every Ghanaian.
The call on the government to fix the economy is in the right direction. Thumbs up to those who are doing it without any ulterior motives.
However, fellow Ghanaians, before we join the social media uproar dubbed “fix it”, there are three (3) important questions we ought to consider.
Firstly, what was the state of Ghana’s economy before the Akufo-Addo led administration took over?
Secondly, what was the state of Ghana’s economy before the novel coronavirus pandemic?
And lastly, what is the current state of the world’s economy in which the Ghanaian economy is embedded?
Undoubtedly, Ghana’s economy before the pandemic, was one of the fastest growing economies in Sub-Saharan Africa and the world.
This is evidenced by the fact that in 2018, Ghana received US$3.3 billion Foreign Direct Investment (FDI) as against the Africa’s largest economy, Nigeria, which received US$2.2 billion.
This means that, there was high confidence in Ghana’s economic outlook before the pandemic.
The coronavirus pandemic has affected every economy in the world with developing countries whose economies depend on import and export (trade with the advanced countries) facing the worse consequences.
Notwithstanding that, the government is doing its best to revive the economy.
Mostly, when I see road construction and other developmental activities going on, I ask my self “how possible” under the pandemic?
Fellow Ghanaian, the woes of the pandemic has affected the global economy with the advanced countries struggling to emerge out of it.
Almost all economies in the world particularly, the advanced countries are finding all possible means to survive. These include loans, tax increment and among other means.
The International Monetary Fund (IMF) is set to disburse US$750 billion to its member states. Out of the total amount, only US$29 billion is coming to Africa. The lion’s share of the money is going to advanced and G20 countries to help restructure their economies.
Additionally, the European Union is set to disburse about €800 billion to its member states. Guess what, France will receive about €40 billion, Germany is taking about €28 billion, Spain €140 billion; half in direct payments and other half in loans while Italy is taking €122.1 billion to help their economies to recover from the pandemic.
In terms of taxes, will you believe that the US and EU member states are negotiating a global corporate tax increment from initial 9% to 21%?
Surely, we must hold our leaders responsible. However, we must be charitable to them because we are not in normal times.
Also, let’s not fall for the political gimmick of the opposition party sympathizers who parade themselves as neutrals.
Trust President Akufo-Addo and his team to put back the economy on track.
Ghana will work again.