The Cedi has increased its unstoppable freefall mode, gathering speed as the dollar and especially the pound sterling flex their muscles. It is clear evidence that the ailing economy is nowhere near responding to the so-called treatment being administered to it.
No treatment is being administered now anyway as those responsible for such management appear to have given up and resigned themselves to their fate, virtually throwing their hands in the air in an act of desperation and despondency.
There is more propaganda in the air than actual performance by government at the helm as salaried spinners overheat the engine of governance with lies.
If the string of calls for national prayers is gathering momentum, it only confirms the state of desperation of government as alluded to in a previous paragraph and how the Cedi cannot stand on its feet anytime soon. We shudder to think that Ghana has descended to such depths of hopelessness even in the face of a newfound natural resource – oil.
The recent Bank of Ghana measures? They have failed and government is already contemplating restoring the old order. We wonder how this would be done because it will confirm further the failure of the economy at the hands of those ‘voted into power’ to do so.
The only thing which government has not told Ghanaians now is how frustrated it has become as the economy’s condition worsens by the day. Government’s core mandate of running the country’s fiscal matters to attract returns and enhance the living standards of the people has become a mirage out of reach of state players.
Under the prevailing circumstances, those who think the government is clueless and only floundering in choppy economic waters have grounds for thinking the way they do. They cannot be dismissed because their stance is valid and makes verifiable sense.
The recent ill-fated national economic forum was a last resort by a distressed government seeking a solution to a self-inflicted injury.
Economic issues, when they turn sour, are difficult to explain to the ordinary person – little wonder propagandists are able to exploit the situation and put more dust into the eyes of such persons to cover failures. No more so anyway, as the ship has listed so badly that lies are becoming offensive and even insulting to their targets and therefore unable to make the desired impact.
Should the Cedi continue to fall and even droop to a $100 is to GH¢400, we can literally claim to be inching towards a failed state because things would have totally fallen apart.
With the GH¢300 mark already traversed, the GH¢400 is within reach – a certainty, not a flip coin possibility.