Wednesday, November 12, 2008
Accra, Ghana—To help their countries weather the current financial storm, nations such as the United States and China have created large economic stimulus packages of $700B and $586B, respectively. And now the The Republic of Ghana will be joining their ranks with a newly approved plan of a staggering $14.
The package, which amounts to approximately 10% of Ghana’s GDP, will focus on increasing consumer spending but also target infrastructure through tax breaks, primarily on purchases of donkeys for transportation, as well as shovels, plows, and other equipment on the cutting edge of Ghanaian farming technology.
“This is a bold move,” said Kwame Armah-Attoh, a locally-based economist at Citigroup, referring to the sheer magnitude of the stimulus package vs. the present size of the economy. “Very aggressive,” he added, swatting away a swarm of flies from his face.
“We are set on keeping The Ghanaian Dream alive,” said President John Kufuor, likening his project to the New Deal. Kufuor was confident that the $14, less than a vodka-soda at The Gansevoort Hotel, would breathe life into his country’s economy and catapult it into G20: “From the dust,” he insisted grandly and without irony, “Ghana will emerge an economic powerhouse.”
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