German Government Cooperating With Ghana On Economic Recovery

Introduction

One of the good things supporting Ghana's Economy is Ghana Cooperative with other nations. Ghana Cooperates with China, USA, German, Russia, Ukraine, France, United Kingdom and many other nations. The cooperation is based on many reasons like: establishment of unity among Africa nations, to maintain peace and security of the various ethnic groups, for economic and monetary support, for the exchange of raw materials for finished product and among other many factors. The most important fact among Ghana's cooperation with other nations is the Economic Bond which stands out to be the most crucial.

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Our Resources Attracting Foreign Cooperation

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Putting Ghana in perspective, we have not been able to harness our natural resources, thus converting our raw materials into finished goods. Meanwhile Ghana is noted to be the second producer of Cocoa which at first we were leading. Our Cocoa is exported to Russia, USA and Netherlands for foreign currency to support development of our nation. The second natural resources supporting us is Ghana's Gold. Obuosi, Tarkwa and other places are noted to be places of Ghana where our metal Gold is mined. Apart from metal Gold, we have bauxite, manganese as other elements supporting Ghana's Economy. One of the current discovery of natural resources that I didn't dream that Ghana is blessed with is oil. The oil is located at Cape 3 points of Western Region on the Atlantic ocean. We are able to produce 176,000 barrel of oil a day. Aside this we have other agriculture products that are exported for money.

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The big question is that Ghana is endowed with all these natural resources including our rich soil for agriculture produce, yet we aren't able to economically developed? This is a simple fact that we aren't technically well equiped to convert all these raw materials into finished products. Inadequate trained staff and lack of expertise to turns these raw materials into finished goods. We have suffered with test of time for many years but it turns out to be unproductive. Our main support to extract all these ore into finished good and get money out from them is to depend on the developed Countries who are technologies equiped and financially sound. This has brought our long good relationship with many foreign Countries till date.

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The COVID-19 pandemic breaking Our Economic Bond With other nations

The Global disaster, COVID 19 pandemic seem to put many economic development in a mess. These are certain unforseen circumstances which we never thought it could occur. This is an era that distanced our cooperation temporary with certain nations like Germany, USA, China, Russia and most of our affiliate nations for economic support. The disease led EU and our Bond with other nations to withdraw themselves from exports and imports duties and goods. Because the disease was efficacious through body contacting. So meetings to take negotiations, touching of goods were some of the ways that spread the pandemic very quickly. Even there was Bans on migration from one country to another. That brought lockdown and social distancing in force.

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It's 3 years now. Things seems to have subsided for a while. Even though the pandemic hasn't stopped completely. The pandemic has wiped many people leading to a great reduction of job market in most developed Countries. The World Health Organization (WHO) has confirmed that as at June 2023, 6 million plus of people confirm dead Globally. What this economically mean is that, there would be decline in the job market where manual job is needed, unless maybe Artificial Intelligence (AI) is used. Since there is reduction of people to fill the job market, there would be decrease in productivity. If productivity is affected, the Global GDP would fall which would then lead to loss of income. It would subsequently lead to economic crisis.

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The expectations of IMF, FED & Economic Planners After COVID 19 pandemic

We are on the lockout for the International monetary Fund(IMF), Federal Reserve System and Global Economic Planner to up their games, put measures in place to fill this gaps of loss in the job market which would jeopardize our Global Economy. We are much grateful to the support from the World Bank during the COVID-19 attack and it associate lockdown. Already, many industries, shops, flights and institutions were shut down to protect human race instead of them dying. Most of the Cooperate Nations and EU have began negotiations with Ghana since last year. It's becoming more exciting that when the COVID-19 Pandemic boiled down, many Cooperate foreign Nations have began negotiations of partnership of businesses. Last year UK declared many Job vacancies invited Ghanaian youths to come and fill the gaps. Canada and other nations have made attempt to come and support renew the bond.

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German Government Cooperating With Ghana On Economic Recovery

On one on exclusive interview on Joy Tv, the German Ambassador to Ghana was explaining the negotiations his Government ( The German Government) has entered with Ghana. The interview took couple of minutes.

Some of the agreement the German Ambassador explained by German Ambassador was helping Ghana from financial burden after the COVID 19. He explained the measures they have put in place to support Ghana. Ghana has gone through a lot of financial challenges to meet the needs of people. Among this is the Inflation hike and continues increase of the EUR and Dollar.

He touched on the Russia-Ukrain war being one of factors which has hindered support.

One of the interviews points I was much excited was the the German intension to budgeting to push the Gross Domestic Product (GDP). He expressed his dislike of time wastage of certain instructional work like Flight or Airlines for traveller as many flights could wastes time for some hours and days. All these could hinder development.

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Agreement to support manufacturing COVID 19 vaccines
The German Government attempt to support Ghana manufacture our own vaccines to prevent COVID-19 Pandemic. This wouldn't be a nine day wonder, but also they promised to set up vaccine projects for 10 years. And the need to empower the food and drugs board. The estimated amount of $2.5 million. This will also create jobs for the people of Ghana. The good news of German being a member of IMF would help their decision making bodies.

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One of the hindrance of Ghana's economy and the West Africa is the decline of democracy as expressed by Daniel Krull (German Ambassador). Krull expressed their intension to support the Northern Ghana since that is the place where development has has been lacking for years.

Conclusion

In summary, we are on the lookout to seek strong establishment of economic relationship between the Western Countries. Despite the COVID-19 pandemic and Russia Ukraine War being some of the setbacks, we still hold our friendship. We hope for the implementation of these negotiations by the Western Nation. We also anticipate our leaders to take full advantage and utilize this agreement well.

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