Posted by: Dr. Y. | February 20, 2018

Ghana to Withdraw from the IMF

Children begging

Children begging

The president of Ghana has recently announced that Ghana will be getting off from the IMF. Based on the progress of the Ghanaian economy, Ghana expects to be able to pay all its loan, and get off from the 3-year IMF financial aid program. This is very good, as any country in this world, when they are well, need not be on financial aid forever, but should aspire to become more independent. I raise my hat to them, and hope that other African countries will aspire to work on being more financially independent! Now, let’s pray for President Nana Akufo Addo’s well-being, and pray for his vision to be completed.

 


Responses

  1. I am glad to know this but what I have never understood is why loans are necessary in the first place. I do know that there is much strife and political corruption in many African countries, but as rich in resources as most African countries are, I cannot understand why to this very day, those countries are still beholden to the International Monetary Fund.

    Because it also saddens me to know that some African countries are still paying a colonial tax. I don’t understand how that is even legal.

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    • My dear Shelby, yes… all African countries should no longer be in debt, but predatory behavior and techniques implemented by Western countries (where some have gone as far as doing putsch in countries to oust presidents – Thomas Sankara) and poor leadership (or rather leadership place to serve European interests and not Africans) have led to this.

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  2. Excellent statement of intention.

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