If The IMF Will Straighten Our Paths, Then So Be It - Part 1

I quote Professor Jeffrey Sachs, a good friend, and a former economic adviser to Kofi Anan (whilst Secretary General to the United Nations) for the umpteenth time. He also happened to be a friend of Professor Mills. Professor Sachs has been involved in offering economic advice and assistance to Governments of over 90% of the Global population. In his book entitled ‘The End of Poverty’ the good professor writes without any of the 'erudition' associated with higher learning in economics, that: 'Economic Development works. It can be successful. It tends to build on itself. But it must first get started.' I think the challenge is, thus far, Africa has developed at a snail’s pace.

Jeffrey wrote in 2005, that when countries get their foot onto the ladder of economic development, they can continue the upward climb, barring any disastrous Government (my take) or catastrophe. All good things tend to move together at each rising rung: higher capital stock, greater specialization, more advanced technology, and lower fertility. However, once trapped below the ladder of development, with the first rung too high off the ground, the climb does not even get started.

It is now an accepted precept of economic development that the West does not need to invest with the view to making an impoverished economy rich, but it simply ought to be sufficient to get us onto a foothold on the ladder of economic development. However, history has shown us that the West is usually only prepared to proffer hand-outs and bailouts which like alms, given to street beggars, don't develop countries but simply keep them begging, where they are – on the proverbial streets – in destitution. It begs the question whether one should rejoice at what the IMF will be willing to offer us for the price we have to pay for coming to them.

An IMF package with its conditionalities will not develop Ghana and put the country beyond the pangs of poverty and hunger, unless the Country is ruled by leaders who are able to create other meaningful sources of funds such as the learned Dr Bawumiah is wont to say: Formalize the private sector, provide an enabling environment to speed up the growth of the sector to produce a formidable source of private sector investment that can push the country up the Ladder of development. Financial discipline, blockage of leakages, including loss through corruption and sheer theft. Corruption must not just be stopped after it has happened but stopped at the source. Vote buying at party political primaries in Africa should be a conditionality, otherwise, the country labours in vain because the country suffers a vicious cycle of corruption that is used to facilitate elections at every level and an excuse for politicians to enrich themselves beyond the pale.

In March 2016, I said: “All things being equal, choosing a Government in 2016, should undoubtedly be one of the easiest and most informed decision Ghanaians would have to make in our relatively short political history, however, time and again, our decisions have been marred by either money or an unwholesomely blind allegiance to tribe, kith and kin, if not simply misreported.”

It was indeed easy, NPP won by a whopping one million votes. The 2020 election was somewhat less exciting, obviously after Ghanaians had tasted 4 Years of NPP Government.

To me, it was just a chance that was blown away. It was as if I had a spiritual revelation to have said that even every now and then our decisions as a people have been marred by either money or an unwholesomely blind allegiance to tribe, kith and kin. Whilst I thought the voting could be marred, it was rather the decisions of Government, such as the paramount appointments to Government positions. The recent comments of an extremely able and knowledgeable Senior Government minister unfortunately betray mindsets at play.

It is the absence of a structural approach to Government practices which would appear to have failed our government. The use of reshuffle is to enable us to get some of the best at post to try because with the best will in the world it will not be easy to determine the best human resource available except by trying in a secure environment. Since David Cameron's term as the prime minister of the United Kingdom began on 11 May 2010 till date, Britain is moving on to its 4^th Prime minister this year, whilst Ghana is still with its 2^nd President, cocooned by their confidants.

I was not surprised to have heard a Parliamentarian justify the payment of Ex-Gratia awards by the fact that votes have to be literally bought at party primaries but I was shocked to note that it was reported as the view of the Speaker of Ghana’s Parliament; both practices must be exorcised, before they remove every hope of instilling any financial discipline in our polity, whether by constitutional amendments or by mere legislative.

BY KWAME OHENE ASARE