Business in Ghana

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Posts Tagged ‘Gbevlo Lartey’

In A Bad Mood-y. Critical News, 22nd March 2015

Posted by Business in Ghana on March 22, 2015

Sydney Casely-Hayford, sydney@bizghana.com

I was a reluctant walker up McCarthy Hill this morning. Very tired from a late night blitz, after one bottle of Guinness and some “rice and plasas”, I traipsed home to the now inevitable “dumsor” and lived with the gloom of a life I did not ask for but choose to be in.

Tired legs and an aging body, both conspirators in the endless dedication to keep me unhealthy, that I get sick so I might die young, but not till my work on this planet is completed and I move to Mars.

I have great hopes that Mars will be habitable by the time I am too old. It takes 150 days and 55,757,930km to reach, which means I am out even before I start the journey. I can only hope they find me a burial spot there, and since we Africans are not capable of creating an Awudome on that planet, I will have to contend with Arlington cemetery without US Citizenship.

So international rating agency Moody’s has been creating havoc for this government for quite some time. This past week, we have been downgraded from B2 to B3 and classified negative. To the non-financial person on the street, what this means is it will cost us more in interest rates and with tighter conditions if we attempt once again, which we are determined to do in May this year, to borrow another $1billion.

We have bonds falling due. The first is in October this year for $531million and the next two, in 2023 and 2024 for $1billion each. Finance Minister has put forward a refinancing plan to Parliament for approval and a cursory look at the document confirms much of what we say every time. Read the rest of this entry »

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Missing Babies, Wrecked Booths and Broken Gears. Critical News, 23rd February 2014

Posted by Business in Ghana on February 23, 2014

Sydney Casely-Hayford, sydney@bizghana.com

Exactly a day short of a year today, President Mahama refused to acknowledge the Election Petition challenge in his State of the Nation Address.  His concerns on that day were “dumso dumso”, water matters, unemployment and security problems.  Now, with the election petition gunned down, the remainder situations are becoming culture.  No solution to the water crisis, “dumso” is back, unemployment is raging mystified and National Security is in your community space with “rambo” style early morning raids.

I disagreed with JDM’s State of Nation 2013 and I disagree with him again this year as he worsened the matter and postponed his address to the Nation.  For no reason.  “Unforeseen circumstances” means, “I am not in charge of my situation”.  It means there are other concerns far more important than this, but I will not explain, in case you think it is frivolous.

Anyway, we have a date for next Tuesday 25th for the Constitutional State of the Nation address.  Whether JDM will honor his promise to the people of Ghana is another matter. Read the rest of this entry »

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