Comments by "Roger Dodger" (@rogerdodger8415) on "2nacheki" channel.

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  21. WHAT A DELIGHT!! SAY GOODBYE TO US AMERICANS!! But don't forget... Say goodbye also to..... Bilateral Economic Relations One of the fastest growing economies in the world a few years ago, Ghana’s rate of growth slowed in 2016 to 3.6 percent, down from 7.1 percent in 2013. Ghana’s economy is highly dependent on the export of primary commodities such as gold, cocoa, and oil. Thus, the country remains vulnerable to potential slowdowns in the global economy and commodity price shocks. Overall increased inflation and devaluation of the Ghanaian cedi since late 2013 has dampened the macroeconomic success story. While the cedi has largely stabilized over the past year, inflation hit 19.2 percent in March 2016 – the highest since early 2010 – and still remains stubbornly high. In recent months, inflation has begun a welcomed downward trend and stood at 12.6 percent in May, 2017. Ghana’s total public debt rose to 73% of GDP in 2016, exceeding pre-HIPC levels. A new government was elected in December 2016 on a platform of promoting private sector-led growth, and has made attracting foreign direct investment (FDI) a priority, given the urgent need to restore the country's economic momentum and overcome an annual infrastructure funding gap of at least $1.5 billion. In 2015, the GOG signed a $918 million extended credit facility (ECF) agreement with the International Monetary Fund (IMF) in an effort to stabilize Ghana’s struggling economy.. Ghana has successfully completed three IMF reviews since the program started but excessive end-of-year government expenditures in 2016 raised questions about Ghana’s commitment to fiscal consolidation. The nation faces challenges in addressing its massive state-owned enterprise debt, mostly in the power sector, estimated to be around $2.4. Ongoing discussions with the IMF, the World Bank, and the broader international donor community to address these major issues continue. It is likely Ghana will seek an extension of the IMF program as the new government works to renegotiate fiscal targets to ensure long-term economic success. Ghana completed a five-year $547 million Millennium Challenge Corporation (MCC) compact in 2012 and a second, five-year $498 million MCC compact focused on the power sector entered into force on September 6, 2016. Ghana exports goods to the United States under the African Growth and Opportunity Act (AGOA) and is a Feed the Future, Power Africa, Trade Africa, and Partnership for Growth country. The United States is among Ghana's principal trading partners, with bilateral trade between the two countries reaching $1.1 billion in 2016. A number of major U.S. companies operate in the country, including IBM, Coca-Cola and Newmont Mining. Political stability, competitive wages, and an educated, English-speaking workforce enhance Ghana's potential as a West African hub for American businesses. However a burdensome bureaucracy,weak productivity, costly and difficult financial services, under-developed infrastructure, ambiguous property laws, an unreliable power and water supply, and an unskilled labor force present challenges hindering foreign direct investment. Ghana has significant reserves of oil and gas, currently being developed by a variety of global petroleum companies, including U.S.-based Kosmos Energy.
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