ADVERTISEMENT

USA, IMF ruining Ghana – Fmr. Dep. British High Commissioner

The IMF and the USA, according to him, is the cause of the erratic power supply and the decision by the government to privatise the Electricity Company of Ghana.

Former deputy British High Commissioner to Ghana, Craig Murray

Craig Murray, a former deputy British High Commissioner to Ghana has blamed the United States of America (USA) and the International Monetary Fund (IMF) for ruining Ghana’s economy.The IMF and the USA, according to him, is the cause of the erratic power supply and the decision by the government to privatise the Electricity Company of Ghana.In his blog post, Craig Murray  wrote “Indeed in thirty years close experience the net result of all IMF activity in Africa is to channel economic resources to westerners – and not to ordinary western people, but to the wealthiest corporations and especially to western bankers."Below is the full piece by Craig MurrayJust ten years ago, Ghana had the most reliable electricity supply in all of Africa and the highest percentage of households connected to the grid in all of Africa – including South Africa. The Volta River Authority, the power producer and distributor was, in my very considerable experience, the best run and most efficient public utility in all of Africa. Indeed it was truly world class, and Ghana was proud of it.Obviously the sight of truly successful public owned and run enterprise was too much of a threat to the neo-liberal ideologues of the IMF and World Bank. When Ghana needed some temporary financial assistance (against a generally healthy background) the IMF insisted that VRA be broken up.Right wing neoliberal dogma was applied to the Ghanaian electricity market. Electricity was separated between production and distribution, and private sector Independent Power Producers introduced.The result is disaster. There are more power cuts in Ghana than ever in its entire history as an independent state.Today Ghana is actually, at this moment, producing just 900 MW of electricity – half what it could produce ten years ago. This is not the fault of the NDC or the NPP. It is the fault of the IMF.Those private sector Independent Power Producers actually provide less than 20% of electricity generation into the grid – yet scoop up over 60% of the revenues! The electricity bills of Ghana’s people go to provide profits to fat cat foreign corporations and of course the western banks who finance them.Indeed in thirty years close experience the net result of all IMF activity in Africa is to channel economic resources to westerners – and not to ordinary western people, but to the wealthiest corporations and especially to western bankers.Not content with the devastation they have already caused, the IMF and the USA are now insisting on the privatisation of ECG, the state utility body which provides electricity to the consumer and bills them.The rationale is that a privatised ECG will be more efficient and ruthless in collecting revenue from the poor and from hospitals, clinics, schools and other state institutions.Doubtless it will be. It will of course be more efficient in channelling still more profits to very rich businessmen and bankers. I suspect that is the real point.That privatised utilities bring better service and cheaper prices to the consumer has been conclusively and forever disproven in the UK. What it does bring is huge profits to the rich and misery to the poor. To unleash this on Ghana is acutely morally reprehensible.Ghana has a political culture in which the two main parties, NDC and NPP, heatedly blame each other for their country’s problems. But if they only can see it, in truth the electricity sector has been ruined by their common enemy – the IMF and World Bank. I pray that one day the country will escape the grip of these bloodsucking institutions.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Wike thanks Tinubu for the opportunity to serve

Wike thanks Tinubu for the opportunity to serve

Barrister Bida pens special birthday prayer for President Tinubu, Nigerians

Barrister Bida pens special birthday prayer for President Tinubu, Nigerians

Tinubu’s aide distributes food items to 1,750 persons in FCT, Kwara

Tinubu’s aide distributes food items to 1,750 persons in FCT, Kwara

Court grants senator accused of forging NYSC certificate ₦50m bail

Court grants senator accused of forging NYSC certificate ₦50m bail

Delta monarch declared wanted by military surrenders to police

Delta monarch declared wanted by military surrenders to police

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Pulse Sports

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

Michelle Alozie: I had to do it because of African referees

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT