GOLD for Oil is one of the most innovative reasoning in modern economic thinking ... I sincerely believe the Same can be extended to debt servicing and so on.
Because there would be no room for failure in this batter system as ably amplified by His Excellency Vice president Alhaji Dr Mamudu Bawumia the man with the foresight of a Jewish prophet in economic and digitisation matters since Gold is the only "constant" would be procured in Ghana Cedis, while the various variables ie oil, debt servicing, technology, Agricultural inputs, major infrastructural projects, industrial machinery, military hardware and software, and any other procurement that requires in excess of a billion dollars would be paid in Gold.
once we are able to move on this trajectory, we can be assured of a stable currency, we will be able to checkmate inflation largely and put the economy on sustainable growth.. this is perhaps the first time we are putting meaning to the name Ghana( Ancient empire rich in gold) and our pre-independent Name Gold Coast.
It is important to recognise that the United States and other partners would not necessarily applaud this audacious move to bring accurate deliverables to our suffering people,,
however we can not continue living our life to please people who hardly care about our very existence,, the behaviour of the West and their allys during the early stages of COVID-19 should be enough motivation for countries like Ghana to look out for a more innovative means of dealing with its internal issues of reassuring its people to believe again ..
there would be various manoeuvres to stop or suffocate or punish the country Ghana and the NPP administration,, however, as Dr Nkrumah puts it during the independent struggle we "prefer independence in danger to servitude in tranquillity " We have been friendly and fought battles that are not ours since the inception of the four Republic,, what have we gained? what can we boast of aside from trying to catch the eye of our colonial masters and pleasing the West with their credit rating agencies who are constantly swimming in a pool of joy to put the final nail in our coffin and make sure we are buried alive.
Let's hope in favour of hope that we will live the true meaning of our forebears who did not allow champagne and fine wine to deceive them... let's not allow the dream of becoming the darling boys and girls of the West, push us from running away from this innovative reasoning.
Let's not sell our country in the alter of greed and the penchant for awards ' peace prices and honorary Doctorates in everything by foreign universities... let's remember that real awards and price is only noble when given by the good people of Ghana.
Source: Dr Richard Yeboah Asante. CEO Public Servants Housing Loans Scheme Board
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