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Kpa Kpa Kpa Economics. Critical News, 16th November 2014

Posted by Business in Ghana on November 17, 2014

Sydney Casely-Hayford, sydney@bizghana.com

Have you ever had to drive through dark night? Night so dark you think someone has deliberately swapped the streetlights for dark fluorescent tubes and it is a mean darkness, engulfing you in some kind of horror movie?

That was Thursday night, driving from McCarthy Hill to a meeting at the Golden Tulip. The street lights, traffic lights, side lights and all other manner of lighting that could possibly help to navigate the way to the hotel and back, simply closed their beams and clothed the car in a dark eerie morass, only the occasional stroller caught the head beams of the car.

At some point I was sure I was lost and considered asking directions to a route I have followed hundreds of times in this short life. And that is what it felt like, that I was driving towards life’s end. Until I got past Kaneshie where there was some street lighting and pedestrians.

This is what ECG and its twin purveyors of “dark vada” have prepped for us. It is not good enough that we do not know when and if power will be available to work, now we are blessed with special night-light.

Not even the interest rates corridor could explain what we are going through, because I listened to the Governor of the Central Bank Dr. Kofi Wampah explaining once again why he had to increase the Central Bank policy rate two percentage points to 21% in order to hold down inflation in an economy where there is very little money circulating, costs are rising every month, Government is borrowing all the money and banks are complaining and yet reporting above-average profits. Read the rest of this entry »

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