Yesterday, twenty fifth Could 2023 marked precisely 60 years after the formation of African Union, an identical transfer to the European Union.
Nearly all of the 55 Member States of Africa have been to the IMF for a number of occasions for financial bailouts and monetary stability. My very own Ghana has been to the IMF 17 occasions and nonetheless counting. NDC has been attacking NPP for taking Ghana to the IMF, nonetheless, curiously, the NDC has taken Ghana to the IMF 10 occasions.
If African political leaders can not handle our economies prudently effectively with out all the time working to the IMF for bailouts then what’s the sense in losing our treasured time each 4 or 5 years to elect them to guide us within the first place.
With out borrowing from IMF, World Financial institution and different Sovereign nations principally USA, Europe, China and many others., it’s more and more changing into troublesome for any African Nations to outlive on their very own by way of the administration of the economic system whatever the huge sources that we now have on the continent.
We have fun and awards mediocrity to the extent of rejoicing and hyping folks after contracting loans with excessive rates of interest on the detriment of the subsequent technology.
The argument will not be about debt to GDP ratios however fairly the ABILITY to service your money owed with out defaults. USA, China, Russia, UK, France, Japan and others all the time have excessive debt to GDP Ratios however what make the distinction between them and African nations is that they’ve the CAPACITY to pay and repair their money owed with none problems with defaults.
In most African nations together with Ghana, if you’d like growth in your constituency, you solely simply have to wish in your Member of Parliament to die. A constituency solely acquired the wanted consideration and growth from Authorities after the dying of a Member of Parliament or by-election and this has been the apply from the times of independence until date.
This isn’t a correct democracy anchored on the precedence of the residents.
We’ve taken into Authorities the normal mindset of, “we solely renovate and paint household homes after the dying of a member of the family.”
Our African management promise greater than delivering on their guarantees and we’re all the time fast to place the blame on exterior forces or points for our financial woes with out accepting any duty for our personal homegrown errors, recklessness and wastefulness.
In opposition, we now have the most effective brains and top-notch options to the financial challenges of the nation however solely find yourself messing issues and worsening the financial circumstances when voted into Authorities.
In our a part of the world, reward singers, sycophants and loyalty to the tin gods on the detriment of the State are principally elevated and people who persist with talking Reality to Energy typically within the curiosity of the State are hated and sidelined.
The timidity, paranoid delusions and sycophancy of the youth have additionally given truthful grounds to these in management to misbehave in direction of the complete citizenry.
Sure, in fact, we have to respect these in Authority however constructive criticism, demanding probity, transparency and accountability can’t be termed as an indication of disrespect to authority.
After 60 years of African Union, we’re nonetheless crawling as an alternative of strolling and working.
Even with the crawling, with out IMF Bailouts it is going to be troublesome to take action persistently and easily.
We discuss greater than taking motion. African Nations deserve proper and high quality management much better than what the residents are experiencing.
Nonetheless, there may be nonetheless hope for the subsequent technology to show issues round and reposition the 55 Member States of African Union to be extra aggressive on the worldwide market.
Supply: Razak Kojo Opoku
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