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06.12.2022 Feature Article

Ghanaians: Let us force our hard-of-hearing ruling-elites to step out of the shadow of conventional economic thinking

Ghanaians: Let us force our hard-of-hearing ruling-elites to step out of the shadow of conventional economic thinking
06.12.2022 LISTEN

Now, more than ever, Ghana's ruling-elites must step out of the shadow of conventional economic thinking, if we are to rid ourselves of the massive debt mountain blocking the transformation of our homeland Ghana into a prosperous and equitable society.

Failure to do so will lead inexorably to the chaos and destruction that Sri Lanka experienced when it defaulted on paying interest on its gargantuan external debt, here too, as sure as day follows night. No question. Yooooooo...

Surely, as a wise and aspirational African people, we have the nous and gumption to think up creative and innovative ways, to help us reduce our external debt, without impoverishing ordinary people, in the process, Ghanafuo? Haaba.

Why, for example, do we not leverage the value in our forests reserves (definitely more valuable than all the minerals underneath them, combined), by leasing them to ESG-bedrocked carbon trading companies, for 99 years, for US$60 billion, I ask, Ghanafuo? Haaba.

And, were we to leverage the value in all the research institutes under the aegis of the Council for Scientific and Industrial Research (CSIR), by repurposing them into cutting-edge commercial research entities, and invite genuine and reputable social impact investors to buy 70 percent for US$60 billion, would that not also reduce the huge debt mountain currently impeding our progress, one wonders?

Furthermore, to end corrosive high-level corruption, why do we also not get Parliament to pass new laws to incentivise whistleblowing - by indemnifying all whistleblowers from prosecution, and rewarding them with 30 percent of recovered purloined public funds, resulting from their exposure of high level corruption by Ghana's rapacious greed-filled big-thieves-in-high-places?

Finally, why do we not get Parliament to pass new laws giving the Auditor General prosecutorial powers? Our ruling-elites cannot go on as they have any longer, ooooo, Ghanafuo. Enough is enough. The time for them to step out of the shadow of conventional economic thinking is now upon us - and we must force them to do so now as a wise and aspirational African people: not tomorrow. Yoooooooo...

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