Tag Archives: Ghana

How the World Bank and the IMF Destroy Africa

Debt is an efficient tool for IMF and World Bank sharks. It ensures access to other peoples’ raw materials and infrastructure on the cheapest possible terms.
Debt is an efficient tool for IMF and World Bank sharks. It ensures access to other peoples’ raw materials and infrastructure on the cheapest possible terms. Through their ideology of neoliberalism, they immediately start to impose economic restructuring and Structural Adjustment Policies (SAPs) that forces countries to spend less on things like health, education and development to ensure DEBT REPAYMENT. In effect, other development priorities will be shelved and poverty start to creep into the nations.

By Africa W,

THE World Bank and the International Monetary Fund (IMF) were set up during the end of the World War II to rebuild the economies of Europe. However, in order for the world bank and the IMF to implement their policies, they began offering loans to poor countries but only if the poor countries privatized their economies and allowed western corporations an almost free access to their raw materials and markets. That was a poverty trap and many poor countries realized it when it was too late. We were already in chains. Continue reading How the World Bank and the IMF Destroy Africa

Ghana Stunned by Libya in the 2014 CHAN Championship

Ghana stunned by Libya in the 2014 CHAN finals while the curse of the host nation continues

Historic Win. In 1982, Libya lost to Ghana on penalties. 32 years later, Ghana lost to Libya on penalties.

By Alula Abraha,

Libya had triumphed over Ghana in the final that saw the two fatigued nations slogging it out their guts to a goal-less draw  late last night to decide the 3rd CHAN African championship.

It’s the second time the two sides played with each other in the same tournament after they had tied 1-1 in their group stage, where Ghana qualified as a group winner and Libya as a runner-up. But Libya was the one that had asserted its upper hand in the most important match of the tournament. Both teams had won their subsequent semi-finals in penalty-shoot-out after both drew 0-0 after 120 minutes of extra-time play. Continue reading Ghana Stunned by Libya in the 2014 CHAN Championship

Eritrea Third Fastest Growing Economy in Sub-Saharan Africa for 2013: EIU

Eritrea leading S-Saharan Africa Economic Growth for 2013

By TesfaNews,

The Economic Intelligence Unit (EIU), an independent business within The Economist Group, ranked Eritrea the third fastest growing country in Sub Saharan Africa for 2013.

On the other hand, Ghana as the most stable democracy in Africa ranked 7th behind Sierra Leone, Tanzania, Eritrea, Zambia and Rwanda, while Chad, The Gambia, Liberia and Mozambique follow.

The research by The Economist Intelligence Unit also ranked Ghana 14th among the world’s 20 fastest growing countries for 2013.  Continue reading Eritrea Third Fastest Growing Economy in Sub-Saharan Africa for 2013: EIU

AngloGold struggling to keep flagship mine in Ghana open

AngloGold Ashanti gained a 4,000 sq km ground in Eritrea for its Kerkasha and Akordat North exploration licences

AngloGold Ghana in trouble

By Cecilia Jamasmie,

AngloGold Ashanti (NYSE:AU) (JSE:ANG) (ASX:AGG), the world’s third-largest gold producer, may have to sell or close down its flagship Obuasi gold mine in Ghana, as operations are becoming unsustainable.

The firm’s new CEO, Srinivasan Venkatakrishnan, told Reuters he is looking to make cuts to counter rising costs at the mine, which have more than doubled since 2008, and falling production.
. Continue reading AngloGold struggling to keep flagship mine in Ghana open

African Union Turned into Handmaiden for Pax Americana

The aftermath of AU’s betrayal to Africa, particularly to Eritrea and Somalia is there for all to see.

By Sophia Tesfamariam,

Professor Ali A. Mazrui, Director of the Institute of Global Cultural  Studies and Albert Schweitzer Professor in the Humanities State  University of New York, in his 2003 article “Between Pax Americana and Pax Africana“, wrote about the effects of the September 11 attacks on Africa and US policy in Africa . Professor Mazrui, in concluding his article asked the following:

“…will American resources help to strengthen Pax Africana, or will American power simply turn it into a handmaiden of Pax Americana ? How can we avoid the Americanization of Pax Africana ?…”

Hence the title and subject for today’s lengthy piece… Continue reading African Union Turned into Handmaiden for Pax Americana