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Ghana Looks To IMF For Salvation As Cedi Falls By 40% - Foreign Affairs (6) - Nairaland

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Angola, Hit By Collapse Of Oil Prices, Seeks IMF Aid / Ghana Finally Runs To IMF For Financial Aid As Economy Crumbles - BBC / Ghana's Cedi Is Now Almost Equivalent To The Dollar! (2) (3) (4)

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Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by caprini1: 5:10am On Nov 05, 2014
PhockPhockMan:
Are joking?
No am not,in my line of work,I travel a lot and av seen things myself.
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by PetroDolla3: 9:02am On Nov 05, 2014
caprini1:
it is really very
what is this one talking about? I live in Accra so stop talking nonsense about what you don't know anything about,huh? The last I checked, there was only one country whose citizens eat from the dustbin, and it wasn't Ghana grin the last I checked nigerians were scrambling for Ghanaian passports grin http://www.thisdaylive.com/articles/nigerians-scramble-for-ghanaian-other-w-african-nations-passports/149002/

The last i checked, there was only one country of hungry people in west africa and it wasn't Ghana!

Nigeria: A Nation of Hungry People grin

This is a clarion call to invest more in agriculture Nigeria is among the countries in the world faced with a high level of hunger threat despite its efforts at reducing hunger in the last 24 years, says the latest Global Hunger Index. In the GHI survey released last week, the country's index is 14.7 compared to Ghana's 7.8. grin According to the report, the higher the index score, the higher the hunger level. Nigeria's level is considered "serious". This year's report, focusing on "hidden hunger" was compiled by the International Food Policy Research Institute.
It is instructive that in 2010, out of 118 countries that were ranked, Nigeria finished 20th, on the index, an indication of the seriousness of food scarcity in the country. In response to the threat that year, the National Assembly expressed concern over desert encroachment in some Northern States, capable of aggravating the already worsening food crisis in the land. But beyond mere lamentation, there were no legislative initiative nor did the executive move beyond the self-adulation at the Federal Ministry of Agriculture to address the challenge. It is therefore not difficult to understand how a nation so blessed with arable land and abundant oil wealth cannot feed its people.
It is highly disturbing that since that poor ranking about four years ago, Nigeria has consistently been featured on the negative side of the different human development reports in the world. These reports indicate that life expectancy in Nigeria is nothing to crow about; real income of most families has woefully reduced; unemployment is scandalously high; Nigeria is topping the list of countries with malnourished children and that the quality of health and education services in the country has deteriorated considerably.
Paradoxically, successive governments in Nigeria have always initiated projects that promote agriculture even though most have failed to yield the maximum results due to corruption, structural weaknesses, mismanagement, undue politicisation, etc. For example, the second National Economic Plan (1970-74) of General Yakubu Gowon made agriculture a priority, but the results did not match the efforts. Between 1975 and 1979, General Olusegun Obasanjo as then military Head of State, initiated a gargantuan agricultural scheme popularly called Operation Feed the Nation (OFN). The scheme also failed to tackle the country's food crisis.
Upon coming to power as the first Nigerian democratically-elected President, Alhaji Shehu Shagari introduced the Green Revolution Programme with a view to increasing domestic food production and curtail the increasing food import bills. That programme also failed calamitously especially from the scandals surrounding the importation of rice. The military regimes of Generals Muhammadu Buhari, Ibrahim Babangida, Abdulsalami Abubakar and the late Sani Abacha made little or no efforts to boost food production in the country while the civilian administrations of Obasanjo, the late Umaru Musa Yar'Adua merely paid lip service to agriculture.
Now that our oil is drying out, the greatest challenge of the President Goodluck Jonathan government is to scale up concrete and systematic initiatives to boost food production in Nigeria. The government must invest heavily in agriculture. If neighbouring countries are producing enough to feed their citizens, why can't Nigeria do so with all her natural endowments? The answer is that basic food production must not fall prey to power politics. Government and banks should develop schemes to provide credit facilities to farmers to invest in mechanised agriculture. Massive rural-urban drift decimating the rural farm workforce should be tackled by making the rural areas attractive for young rural job seekers.
The point has repeatedly been made that a country as richly-endowed as Nigeria should not be suffering from the scourge of food scarcity. Human development is the epicentre of all developments. It is a shame that whilst Nigeria is beating her chest in euphoria of being the "giant of Africa" and Africa's leading economy, many of her citizens still live in hunger. grin
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by PetroDolla3: 9:05am On Nov 05, 2014
fuckeduppedness grin Let's all pray for the nation called ...........hehehehe refugees

Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by francis247(m): 10:17am On Nov 05, 2014
badmrkt:
bros stick to politics and leave Economics for the wise ones...
Unfortunately one Ghana Cedi is equal to 51.67 Naira while strangely one South African rand is equal to 14.90Naira. Google it. The redenomination that Ghana did was what Soludo wanted to do but was strongly kicked against by our corrupt leaders. God help nigeria
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Centrifude(m): 1:49am On Nov 06, 2014
Don't count Ghana out just yet, it's still very early I have a feeling they will survive these troubling times.

My question is what's the rest of Africa doing to deal with this problem?
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by iamord(m): 6:20am On Nov 06, 2014
Centrifude:
Don't count Ghana out just yet, it's still very early I have a feeling they will survive these troubling times.

My question is what's the rest of Africa doing to deal with this problem?

Oh yes! The cedi is stabilizing and situation improving but no one will report that.. The case is not something that nigerians are suppose to carry on their heads cos it not their biz.. And there are a lot of issues going down in your own backyard that need that type of attention. Black people are their own enemies
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by iamord(m): 6:52am On Nov 06, 2014
mikeujoel:


Sometimes I regret coming from West Africa. Why do we hate ourselves so much!

I am Nigerian but I am down here with my ghanian homie in amsterdam chilling in a coffeeshop smoking the dopest spliff. Chill out guys. smiley

its pathetic. We are our own enemies nott imf.. That's why there is low integration within our ecowas and african states. It has some of the greatest countries in africa but fails to blend. Well on the spliff that's the spirit.. Heard ansterdam has it in excess. Enjoy
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by iamord(m): 7:05am On Nov 06, 2014
ikp4succes:


lol those guys are born trolls, if you want meaningful conversation go to quorra.com . But Ghana needs to fearful of IMF, the last news i read about ghana and IMF, was IMF telling the Ghana president to suspend six month of civil workers salary, b4 then can give ghana the IMF loan. Dont you see how this will cause unrest , and am sure 45% of ghana work force are civil servant..
thanks bro. Thanks for the suggestion. I will go check the site out.a lot of immature peepx on here. Well negotiations are still happening.. And the government will negotiate for a flexible plan To favor ghanaians . What ever the case may be. Things will improve. Only those that can see it will grasp the opportunity
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by iamord(m): 7:07am On Nov 06, 2014
PetroDolla3:
fuckeduppedness grin Let's all pray for the nation called ...........hehehehe refugees


They still too busy trying to tell their neighbors that their house is on fire. When theirs is also being raised down . Its a fo.olish mentality

1 Like

Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by elder05(m): 9:10am On Nov 06, 2014
MadCow1:



[b]Yes...


1 Ghana Cedis = 10,000 Ghana Cedia (before the redenomination).. So Technically, the value is the same..

Now when I lived in Ghana, the Highest exchange rate the Dollar ever reached against the Cedis was 100 Dollars - 1.4 Million Cedis (140 GHC)..

But today, the Exchange rate is 100 USD = 328 GHC (3.28 Million Old Ghana Cedis).. That explains why their currency is in trouble because they are actually getting worse and worse..



The Cedis you see today was created recently after they divided all their currencies by 10,000.. So 10,000 Cedis Note became 1 Cedis.. So 1 Cedis was still buying what 10,000 Cedis was buying.. They only fooled themselves, not Market economics.

So though the numbers look like they are doing better than the Naira, multiply that figure you see by 10000 to get the actual original value of the Cedis..


Ghana would soon come running to Nigeria again as refugees... Thats why I have invested all my Money into this business;




[/b]
gbam!!! U really hit the nail on the head
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by walexy14(m): 9:31am On Nov 06, 2014
Mehn!!!! Which means my cousin that will be going back to skol with 3,000 Dos , will be a rich Gul in Ghana
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by AzontoGhost(m): 12:31pm On Nov 06, 2014
walexy14:
Mehn!!!! Which means my cousin that will be going back to skol with 3,000 Dos , will be a rich Gul in Ghana
so your cousin is poor with 3,000 Dos in Nigeria
oh why art thou art thee
gringrin
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 3:00pm On Nov 06, 2014
iamord:
thanks bro. Thanks for the suggestion. I will go check the site out.a lot of immature peepx on here. Well negotiations are still happening.. And the government will negotiate for a flexible plan To favor ghanaians . What ever the case may be. Things will improve. Only those that can see it will grasp the opportunity

actually its http://quora.com/ grin grin

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