IMF loan won't save Ghana's economy - Renowned US economist

Prof. Steve Hanke, renowned international economist at the Johns Hopkins University, USA, has stated that Ghana's latest crawling to the IMF will not save its economy.

The economist put Ghana's current inflation rate at an astonishing 49.35%, which is triple the 17.7% inflation rate of neighbouring Nigeria.

In a recent tweet, he said, ''Ghana is in 16th place in this week's Hanke’s #CurrencyWatchlist. By my calculations, the #cedi has depreciated ~29% against the USD since Jan. 2020. The Ghanaian cedi is a central bank junk currency.''

https://www.ghanaweb.com/GhanaHomePage/NewsArchive/IMF-loan-won-t-save-Ghana-s-economy-Renowned-US-economist-1574450

I guess it's time for the press to reduce the sensationalism and focus more on substance.

Nigeria is being bedeviled by the various ills our society seems to promote.

When you couple that with the global financial meltdowm, a fallout of Covid-19 and the Russia/Ukraine conflict, exonomies would suffer.

I thought some people said this country was ''far better than Nigeria''?

The last time Nigeria went cap-in-hand to the IMF was over 30 years ago during Babangida's era.

Make dem prepare to remove ten zeros for that their useless CEDIs this time

Kyase:
Make dem prepare to remove ten zeros for that their useless CEDIs this time

lol

This is what some wicked people want to take us back to..... God pass una

For proper context, Ghana is just 31 million people, less than the population of Lagos and Oyo states combined.

If someone is to sit down and properly evaluate the Buhari government from every angle, the man has done a great job, but we are not ready for that conversation.

JAMO84:
For proper context, Ghana is just 31 million people, less than the population of Lagos and Oyo states combined.

If someone is to sit down and properly evaluate the Buhari government from every angle, the man has done a great job, but we are not ready for that conversation.

LMAOOOO keep cooking comrade, I like the way you people pretend to be intelligent

Ok

"Ghana's current inflation rate at an astonishing 49.35%, which is triple the 17.7% inflation rate of neighbouring Nigeria."

Thank you President Muhammadu Buhari.

*WORLD ECONOMIC CRISIS*

107 countries are faced with either of the 3 risk of rising food prices, rising energy prices or tougher financial conditions. 69 countries are faced with all 3 risks out of which 25 countries are in Africa. From the 25 in Africa, 4 countries in Sub Sahara Africa namely Ghana, Ethiopia Kenya and South African are worst hit.

God bless Nigeria for ever!

MASTAkiLLAh:
LMAOOOO keep cooking comrade, I like the way you people pretend to be intelligent

Can you say you have more sense than him? Besides that you are doing it for Obi or pdp has Buhari not performed?

Did you say 50%? Imagine what could happen to Nigeria with all the borrowings of this APC government.

Abeg make una vote Peter Obi for president
I'm not ready to give anybody shishi if una vote another looters wey no go fit service debt wey Buhari don borrow.

The next Nigerian president must be a cerebral person for the country to escape recession.

Akufo Ado and Buhari read the same economics book, took same exam, wrote same answer and scored same grade.

That Buhari-like borrowing policy is really hitting the Ghanaian economy.

It seems Jubrin's body odor has infected them

Praxis758:
Akufo Ado and Buhari read the same economics book, took same exam, wrote same answer and scored same grade.

That Buhari-like borrowing policy is really hitting the Ghanaian economy.

Please leave Buhari out of your madness.

You saw him running to IMF in your dreams abi?

Quintopia:


Please leave Buhari out of your madness.

You saw him running to IMF in your dreams abi?

Don’t worry, the Chinese your country is indebted to will soon create a sugarcane plantation where your likes will work to repay the loans.

Be deceiving yourself.

For the records, that's the same Ghana Nigerians are praising with all their might to be better than Nigeria. Nigeria a whole Number 1 Economy in Africa!

I laugh at people when they underrate this country so so bad. Meanwhile am ready to accept Kwedo Sheldon aka Chukwudi, the Ghanian youtuber to Akwa Ibom state, he's always welcome to be an Igbo man and a Nigerian Citizen

Nigerians are truly strong people

ghana never see anything and the country is alreay falling apart.

Inflation rate in Nigeria is 17.71% whilst Ghana is 27.6% and cotedivore is 3.5%. why is buhari urchins feeling they have achieved greatness

LOLSeeComment:

Can you say you have more sense than him? Besides that you are doing it for Obi or pdp has Buhari not performed?

should I really bother myself with a dolt ?

JAMO84:
For proper context, Ghana is just 31 million people, less than the population of Lagos and Oyo states combined.

If someone is to sit down and properly evaluate the Buhari government from every angle, the man has done a great job, but we are not ready for that conversation.

What has he done... Educate us.

lonecatt:
Nigerians are truly strong people

ghana never see anything and the country is alreay falling apart.

Lol really .

Praxis758:




Don’t worry, the Chinese your country is indebted to will soon create a sugarcane plantation where your likes will work to repay the loans.

Be deceiving yourself.

OH SHUT UP.....ILLITERATE. The Chinese give out loans without ruinous 'conditionalities', unlike your western vampires in the IMF who specialise in destroying developing nations.

Quintopia:


OH SHUT UP.....ILLITERATE. The Chinese give out loans without ruinous 'conditionalities', unlike your western vampires in the IMF who specialise in destroying developing nations.

Your likes keep abusing western countries and attacking them for causing the backwardness in your country but will never blame your people using substandard product to execute projects.

Same western countries you’re abusing is where someone like you is dreaming to relocate to. Why don’t your savior China open its visa application so that a frustrated folk like you will relocate there.

I’m waiting for how you’ll plead with China when they come to take over the immobile kaduna-Abuja railway line because of bandit hostilities.

Quintopia:
IMF loan won't save Ghana's economy - Renowned US economist

Prof. Steve Hanke, renowned international economist at the Johns Hopkins University, USA, has stated that Ghana's latest crawling to the IMF will not save its economy.

The economist put Ghana's current inflation rate at an astonishing 49.35%, which is triple the 17.7% inflation rate of neighbouring Nigeria.

In a recent tweet, he said, ''Ghana is in 16th place in this week's Hanke’s #CurrencyWatchlist. By my calculations, the #cedi has depreciated ~29% against the USD since Jan. 2020. The Ghanaian cedi is a central bank junk currency.''

https://www.ghanaweb.com/GhanaHomePage/NewsArchive/IMF-loan-won-t-save-Ghana-s-economy-Renowned-US-economist-1574450

Interesting submissions from Prof. Steve Hanke, renowned international economist at the Johns Hopkins University, USA...


However Ghana has a 27.6% inflation which is indicated here:

=> https://tradingeconomics.com/ghana/inflation-rate-mom
=> https://nairametrics.com/2022/06/09/despite-the-hawkish-stance-ghanas-inflation-surges-18-year-peak-above-27-in-may-2022/

Ghana shall prevail!

Not

Quintopia:
IMF loan won't save Ghana's economy - Renowned US economist

Prof. Steve Hanke, renowned international economist at the Johns Hopkins University, USA, has stated that Ghana's latest crawling to the IMF will not save its economy.

The economist put Ghana's current inflation rate at an astonishing 49.35%, which is triple the 17.7% inflation rate of neighbouring Nigeria.

In a recent tweet, he said, ''Ghana is in 16th place in this week's Hanke’s #CurrencyWatchlist. By my calculations, the #cedi has depreciated ~29% against the USD since Jan. 2020. The Ghanaian cedi is a central bank junk currency.''

https://www.ghanaweb.com/GhanaHomePage/NewsArchive/IMF-loan-won-t-save-Ghana-s-economy-Renowned-US-economist-1574450

OMG

Quintopia:


OH SHUT UP.....ILLITERATE. The Chinese give out loans without ruinous 'conditionalities', unlike your western vampires in the IMF who specialise in destroying developing nations.

Hmmm. Are you sure though.

I fear the Chinese. They do not send human right, they don't care about debt forgiveness like the western Paris club forgave Nigerians loan, they do not have compassion e.t.c.

In economics you reap what you sow. Crude is our focal earner and we are getting lower daily in terms of export figure.
We need to restructure this mess we call Federalism.

jimetagambo:

Hmmm. Are you sure though.

I fear the Chinese. They do not send human right, they don't care about debt forgiveness like the western Paris club forgave Nigerians loan, they do not have compassion e.t.c.

but that's what Nigerians desire. They are tired of the west as a power block and need Russia, China plus north Korea to come rescue them.

iznaws:
Ghana shall prevail!

prayer doesn't answer to wealth o.
Until they up their output, going down is inevitable.