19.08.2013 General News

Reality Check: Ghana’s Economy Cursed And Broke— Duncan-Williams

By RadioXYZOnline
Reality Check: Ghanas Economy Cursed And Broke— Duncan-Williams
19.08.2013 LISTEN

Archbishop Nicholas Duncan-Williams says not only is Ghana's economy 'cursed' but also 'broke'.

'We really need to pray for Ghana,' he told his congregation in a recent sermon which was played back on Radio XYZ's Christian programme, 'Voice of Action' on Sunday August 18, 2013.

According to him, 'somebody has cursed the economy'.

'It's sabotageso we need to break that padlock. We need to remove demonic sanctions and embargoes on the economy and we need to command a healing of our economy and the nation and we need to command new infusion,' Duncan-Williams said.

According to his calculations, Ghana has lost about US$2bn due to a fall in the prices of two major export commodities - gold and cocoa.

He said the government of Ghana set certain targets based on projected revenue from gold and cocoa, and so the price-dip puts Ghana in a precarious economic situation.

'We've lost like US$2bn - we have to go and find that money to inject into the system - because of the price of cocoa and gold falling,' he noted.

Explaining further, the Christian Action Faith Ministries' Presiding Archbishop said: 'I'm told that they [Government] projected also based on 127,000 barrels of oil a day and we are producing about 90,000 now, so I think we [have] fallen behind by about 37,000 barrels and all that is money that we don't have; we've spent it already. So one way or the other, we are broke. Until we find those monies, we are broke. That's how bad it is'.

'We need to pray for the president and those who manage our finances to come up with weightier inventions and new ideas to create money not only taxes and taxing us because already we don't have the money so when you are taxing, where are you getting it from. We don't have it, we are all broke and you are taxing us. You have to find ways and means to create more money not taxing us from the little we have to feed our children'.