The livelihood of every country is the state of it economy, so it is important that our economic administrators helped managed the micro and the macro economies of the economy. For any country to have a economy that is sound and prudent there is the need for sound management to build the overall economy. A sound and prudent economy is significant to the development of the country. There are external factors that can affect the state of the economy and it has to take prudent and sound management by the economic administrators to bring structure to the wheels of the economy. We have seen so many economies destroyed all over the world through mismanagement, but we have seen also how economies of different countries bounds back with strong measures to spearhead the development and prosperity of it people.
The economy of every country is the linchpin of the country so when the economy is in dire situation the country suffers and inflation and other measures are greatly affected. Sometimes the economy can be affected greatly by internals factors, however, there are also global trends that goes beyond the control of the countries that are affected. But just as there are situations of that nature, in spite of that we need to also seek workable solutions to ratified the situation or deal with the economic downturn of the ailing economy.
In fact I have come to believe that democracy is tied to the way we handle the economy productively and unproductively. Many governments are voted out of office all because of the way they handled the economy inadequately to ease the pressure from the populace. When the economy is mismanage by the governments through lack of forethoughtful measures on spending it affects the entirety of the economy to the overall detriment of the people. Take for instance the emergence of the second economic powerhouse in the world China, it is reported that China is sitting on a pile of debt amounting to Trillions of dollars even though most of the debt has brought to them the huge developments in infrastructure unparallelled in the world.
China the second economic powerhouse in the world is managing it debts structure critically so that they don’t loose their economic importance. United States is sitting on the pile of debt to the tune of $1.8 Trillions of debt, it is important to note that both US and China are all micro managing their debt through debt structure and prudent spending cut in areas to generate growth and productivity. Many economist are talking about the implosion of the Chinese economy, because of the huge astronomical debt. There are some who are afraid of what will become of China, when it economy crashed because of the large borrowing. Ghana is borrowing and spending, yet there is nothing to show forth in terms of developments.
Building a strong and vibrant economy requires lots of work and planning, we cannot lead our country to prosper without sound economic principles and good foresighted prudent measures. We need to have a well managed a economy that is well structured on worthy principles because without these principles we cannot turn the tide of the waves of economy downturn. We need to find areas that deserve investment and invest in those areas to grow the economy and bring prosperity to the nation.
Ghana is struggling with it economy because we are not implementing sound and prudent economic measures to micro manage our oil revenues, loans, other investments. The governments is spending so much unnecessarily on things that do not foster growth and developments. The economy of Ghana is in dire need of stress and need help to be resuscitated to bring life back to it. As at today the economy is under serious stress, because of too much spending and borrowing leading to lots of debts.
The country is suffering from lack of common sense spending and borrowing. China has spend lot in the past 8 years and most of their spending and borrowing are all towards rebuilding their country to attract invested capital all over the world. China used this strategy to embarked strong development to harness their manufacturing sector and to build and used it to drive an export driven economy. We need good administrators who understands global trends and can adopt other stringent measures to spearhead 21st century development for the country.
We need to adopt ways to revive the economy that has gone south, because it is the livelihood of the country. We cannot continue to micro-manage the economy and expect the country to accelerate it development aspirations. We are cash strapped because we are not planning well to generate enormous growth of the economy. Ghana’s leaders needs to look beyond primitive measures and find judicious measures that is tried and tested to make way for developments for the people. As a country we need to be looking at the big picture, because it is a key to help make worthy investment that will turn the situation around.
Ghana is struggling to find a way out of their economic dilemma, the Cedi which is their currency has fallen considerably against all of the major currencies in the world. The Central Bank has instituted measures to resuscitate the falling Cedi against the dollar. We need to adopt common sense measures to restore confidence in th local currency rather than adhoc(impromptu) measures. Ghana economy is bleeding gradually to it demise and the government is struggling to find antidote to revive it. Time is running out of the ailing economy.
Ghana’s economy is heading straightway to the south meaning it is loosing it economic relevance to the people. The people are in distraught as to what to do with their life with the measures the government is taking to bring life to it. The economic administrators of the country are struggling to find answers to the ailing economy. I believe it will be intelligent to find ways to save it from this huge calamity and destruction before it is too late. However, it is important that we look for perspicacious solutions to mitigate this challenge. For other than that we are definitely heading to the south.