Global Financial Crisis Surface In Ghana

Published on 27 February 2009

Currently, Ghana is an economy that is being held together with bailing wire and glue, strangled in a madman's race to see what kills it first, corporate food and medical nightmares or the ever increasing march to global financial war. [...] The big question now for Africa is how badly it will be bruised by the global financial meltdown. “It's becoming clear that many developing countries — African countries — will not be immune to the spillover effects of this global financial crisis,” says CEO, Gold Coast Securities, Ben Kujar. So, we consider that … particularly poor people within these countries are now in a kind of danger zone. And the danger for them lies in the fact that they're taking a hit from what I call the “Four Fs” — the fuel crisis, food crisis, the fertilizer crisis and now the financial crisis.” Ben Kujar is referring to the massive rise in the price of the three commodities — fuel, food and fertilizer — over the past year or so that has prompted riots in several African countries, including Ghana. He warns that the current global turbulence could certainly have a knock-on effect on the continent

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