MOBJECTIVE:


I think this is the last thing i'll point out, but last time checked, hadn't lagos borrowed up to 500billion naira? yet, in Accra- light, Lagos-no light (at least, not yet)

but i dey play Fifa 14 now with Nepa light

Orina:

but i dey play Fifa 14 now with Nepa light

, smh for the Nigerian spirit. I'll give us that.

MOBJECTIVE:

I'm grateful for your offer, but please don't stress yourself on my behalf. Ghana's gdp/capita is about $4000 (ppp) and their HDI (human development index) is rated medium. they constantly top waec tables and their economy is growing above 7 percent.these are very good stats for a developing nation. definitely not one of a failed economy.

plus....there is light

no sir Ghana's GDP/capital is down from about $1000+ to $600
http://www.ghanaweb.com/GhanaHomePage/business/artikel.php?ID=319587&comment=0#com
please talk with facts next time

Orina:
no sir Ghana's GDP/capital is down from about $1000+ to $600
http://www.ghanaweb.com/GhanaHomePage/business/artikel.php?ID=319587&comment=0#com
please talk with facts next time

i'll stick with plain old wikipedia for now thank you. plus if you noticed, i specifically referred to ppp (purchasing power parity)

MOBJECTIVE:

i'll stick with plain old wikipedia for now thank you. plus if you noticed, i specifically referred to ppp (purchasing power parity)

Ghana - http://en.m.wikipedia.org/wiki/Ghana

Nigeria -
http://en.m.wikipedia.org/wiki/Nigeria

Nigeria is more than Ghana weather GDP(PPP) or GDP(norminal) they only got a medium HDI dats all... They should be richer cus of their small population but they not... How do u like that now sir

Ghana has lost its lower middle-income economic status, international economist Dr Kwaku Osafo has said.

He pointed out that the indicators that qualified the country into that status are no longer reflecting as they currently point to a reversion to the former status of developing economy.

The Convention People’s Party (CPP) leading member made these known on TV3’s News 360 on Friday, August 1 in an interview with Kenneth Osei Ampofo. Dr Osafo cited that the defining base of $1,000 and above per capita income for a middle-income country can no longer be said of Ghana as its per capita income has dropped to $600.

“The Gross Domestic Product has also devalued in a way,” he mentioned, indicating that the amount of $50 billion as against 20 million population then has reduced to about $30 billion as against a population of 25 million. “Definitely we have gone back to our old classification as a developing economy not a middle income economy,” he stressed.

Dr Osafo said the redenomination of the Cedi is partly to blame for the current crisis as the exercise propelled Ghana’s economy to the levels of developed nations prematurely.

“Making the Cedi stronger than the [US] Dollar was a fundamental flaw in economic policy management because when your currency is strong it means you are having more exports than imports and there was nothing like that at that time.”

He said with such a strong local currency then, Ghana was considered “well-placed’ in terms of infrastructure to match any other of a middle-income country in the world.

Government has admitted the country’s middle-income status has compounded the economic challenges since the country does not benefit from aids any more. President John Dramani Mahama has, however, assured the nation that by December, there will be an improvement in the cost of living.

Ghana biggest problem was lying to themselves about their reality. From rebasing their economy, which was a huge fraud to, the cedi/dollar exchange rate, Ghana created economic stocks, that had no value. They will pay for next 10 years.

Orina:

Ghana - http://en.m.wikipedia.org/wiki/Ghana

Nigeria -
http://en.m.wikipedia.org/wiki/Nigeria

Nigeria is more than Ghana weather GDP(PPP) or GDP(norminal) they only got a medium HDI dats all... They should be richer cus of their small population but they not... How do u like that now sir

you really dnt get the point of what i've been saying
too tired to continue.

Obama's favored African nation hits the skids




Just over two years ago, it was President Obama's model African nation. Now Ghana is looking for a bailout.
The small West African nation won many admirers for growing rapidly and reducing poverty.

But the poster child for progress in Africa, hailed by Obama in March 2012 as a "wonderful success story," is now struggling.
Growth is slowing, despite rising oil output. Government borrowing and inflation are rising, and the currency -- the cedi -- has lost about 40% of its value this year.
President John Mahama said Ghana would be seeking the support of the International Monetary Fund as it tries to stabilize the currency and economy.
The IMF has not received a formal request from Ghana for assistance, but said it is ready to work with the government on a support program.

So why the dramatic reversal?
Shilan Shah, African economist at Capital Economics, said Ghana has been spending too freely on public sector wages and subsidies, leading to a widening budget deficit.

"Compounding the problems are recent allegations that the Bank of Ghana is attempting to finance the deficit by printing money, which has pushed up inflation to over 15% year-on-year," Shah wrote in a research note.
Ghana's imports are also racing ahead of exports, draining the country's foreign currency reserves and piling pressure on the cedi.
An IMF bailout would provide backstop funding while the government takes steps to get a better balance between spending and revenue, and in foreign trade.

That's almost certain to mean tough austerity measures for a country where annual GDP per capita is still only $1,850. The IMF may also insist that interest rates -- already at 19% -- rise further to persuade people to spend less and contain inflation.
Growth could slow to about 4% this year and next, down from 7% in 2013, as a consequence, said Capital Economics' Shah.
Talk of a bailout comes less than a decade after $3 billion in debt was wiped off Ghana's books as part of an international relief initiative.

atlwireles: Ghana biggest problem was lying to themselves about their reality. From rebasing their economy, which was a huge fraud to, the cedi/dollar exchange rate, Ghana created economic stocks, that had no value. They will pay for next 10 years.

you are talking like a the biggest foooooooooooooooooool in thr world. Ghana was not the first country to rebase and what is wrong with rebasing,ediot? the rebasing was simply to enhance convenience. what was fraudulent or questionable about that? didn't your country contemplate rebasing at one point during soludo's time? so what crap are you bleating?

Ghana will remain the original 419 of nation. They manipulated data for almost 12 years, it finally caught up with them.

MOBJECTIVE:

so the european countries who are now recovering after bail outs are failed economies.

you sounded so intelligent and learned in your first post, i still find it hard to believe that you re capable of spewing this level of arrant nonsense

atlwireles: Ghana will remain the original 419 of nation. They manipulated data for almost 12 years, it finally caught up with them.

hahahaha i thought shitnigeria is the original 419 country? which data did Ghana manipulate? what a mor0n!

SantaMafia: you are talking like a the biggest foooooooooooooooooool in thr world. Ghana was not the first country to rebase and what is wrong with rebasing,ediot? the rebasing was simply to enhance convenience. what was fraudulent or questionable about that? didn't your country contemplate rebasing at one point during soludo's time? so what crap are you bleating?

Why are you crying, deal with miserable inferiority complex. Rebasing that was called a fraud by both world bank and most financial houses. You were made to defend those numbers how many times What is worth $46B in hell hole call Ghana. Your bond has been reduced to junk status this dumbass is still talking.

SantaMafia: hahahaha i thought shitnigeria is the original 419 country? which data did Ghana manipulate? what a mor0n!

The financial markets knows the 419 nation now. When the IMF gives you their bitter pills to swallow, you will learn to tell the truth next time.

atlwireles:

Why are you crying, deal with miserable inferiority complex. Rebasing that was called a fraud by both world bank and most financial houses. You were made to defend those numbers how many times What is worth $46B in hell hole call Ghana. Your bond has been reduced to junk status this dumbass is still talking.

hahahahaha listen to this goat! what is life expectancy in your sh1thole? how many of your suffering and no-more-smiling shitnigerian goats have access to potable water? how many in your dustbin country can sleep with their two eyes closed at night? how many of your youths are employed? Jeez, people even eat from the dustbin in your magg0t-infested modafaking sh1thole

atlwireles:

The financial markets knows the 419 nation now. When the IMF gives you their bitter pills to swallow, you will learn to tell the truth next time.

and what is your fvcking buisiness with what Ghana and IMF decide to do? are you not supposed to be searching for those your little apes somewhere in Sambisa forest or whatever sh1t place boko haram took them to? i thought that should be your major concern, not what Ghana and IMF decide or not decide? hahahahahahaha fuckedupeedness

SantaMafia: hahahahaha listen to this goat! what is life expectancy in your sh1thole? how many of your suffering and no-more-smiling shitnigerian goats have access to potable water? how many in your dustbin country can sleep with their two eyes closed at night? how many of your youths are employed? Jeez, people even eat from the dustbin in your magg0t-infested modafaking sh1thole

A country where 50% of your budget is dependent on foreign aid A country where missionaries, provide education, healthcare, poverty programs in 2014 is talking. You should be ashamed of yourselves. Go begging, that's, what you people do well around the world.

SantaMafia: and what is your fvcking buisiness with what Ghana and IMF decide to do? are you not supposed to be searching for those your little apes somewhere in Sambisa forest or whatever sh1t place boko haram took them to? i thought that should be your major concern, not what Ghana and IMF decide or not decide? hahahahahahaha fuckedupeedness

You are on a Nigerian forum, dumbass, we talk about what we want here.

and do you know the level of aid channeled into your sh1thole through non-governmental sources? shitnigeria receives the highest level of assistance from international sources, but the aid is channeled through NGOs because no sane person or country will give money to your thieving government officials. go and do your reaserch before exposing your stvpidity! if your country was rich and caoable why would international bodies be contributing significantly to key sectors such as education, health, agriculture. even Bill gates gave $50 to your maggot-infested coiuntry to fight polio! western countries are contributing money for your next election, whereas Ghana funded its last general elections all by itself, ediot!

The fact that foreign govts are even willing to commit to Ghana's budget is a vote of confidence. no country will give money to people know for stealing their country blind! modafaka!

atlwireles:

A country where 50% of your budget is dependent on foreign aid A country where missionaries, provide education, healthcare, poverty programs in 2014 is talking. You should be ashamed of yourselves. Go begging, that's, what you people do well around the world.

Smh