Si mlisema Ghana is the next big thing and it would topple the dollar hegemony by starting to buy and sell in gold :D:D:D. How is that going for ya? Kama China which has the BRAINS, CAPITAL, DESIRE, ECONOMIC LEVERAGE and PERSUASION to ditch the dollar hasn’t done so, who told you a poor third world country with a gdp of one Seattle street would upend such an hegemonic arrangement? Sai wanakimbisha vikombe kuenda IMF wapewe hizo dollar walikuwa wanapretend hawataki. Walai Washington mandarins huwa wanaona some irrelevant third world country talk about "ditching the dollar " wanacheka yao yote.
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@Sambamba stick to hacking puriss. Hii maneno ya Economics wachia akina @Sidindi Bey :D:D:D
Unless african countries industrialize and produce high end goods, they will likely sell everything on their land and become indentured servants in 100 years.
Ghana is a case study of going woke and going broke.
They did everything Obama and Biden asked including dumping industrial fertilizer for organic fertilizer to save the environment , Climate change scam.
Today they are starving and suffering from severe food shortages .
Ghana was so good that liberal ranking agencies like moody, McKinsey, BCG gave them top marks even in matters democracy and electioneering. Now their currency has tanked and Biden has ordered them to use their gold to buy food.
Only an idiot would listen to U.S Democrats and follow their advice.
Ghana’s cedi performed worse in 2022 than Sri Lanka’s rupee (Sri Lanka is bankrupt). Kwani what happened to Ghana??! Then I remember Steve Harvey and his entourage of Black American returnees saying they were going to relocate to Ghana because America is racist.
A few years ago they discarded their old currency due to loss of value and introduced new currency at 1:1 ratio to the dollar. It is surprising the same problem has come back
2years back, people were praising the Ghanaian economy, for being the best in terms of GDP in Africa, yenyewe let us accept facts, if we can’t stimulate our economy, at least let us lure foreign investors, hizi grand projects za loan, are proving to be useless, because saa ya kulipa tunashindwa, inabidii bonobo govt zitax commodities , leading to inflation and high cost of living… But even after witnessing what is happening in west Africa, ruto will still borrow loan to build dams, in near future hapa naona a ltr of petroleum will be 250shillings
USA’s foreign debt is in Dollars (Local Currency), Ghana’s Foreign debt is in Dollars ( Foreign & World Reserve Currency), secondly USA Dollar is backed by Military might & Tons of Gold, Ghana’s currency is backed by very little gold and cocoa.
USA’s foreign debt is in Dollars (Local Currency), Ghana’s Foreign debt is in Dollars ( Foreign & World Reserve Currency), secondly USA Dollar is backed by Military might & Tons of Gold, Ghana’s currency is backed by very little gold and cocoa.
I still don’t like it that in a topic like this, no one mentions that the entire western powers (governments and media houses) come together to make and example of any country that even thinks of challenging the USD global position.
Even though they do it chini ya maji, the average fool should be able to recognize it from the history of challenges to the USD.
Africa tuko nyuma sana hadi it’s painful. If we are still dependent on other countries to feed us literally we won’t develop economically. And then instead to develop the priority areas like agriculture health education we are trying to jump those stages of development straight to manufacturing and high end services.
