HOW DID WE GET HERE?

Dear Reader,

You would remember that there was a time in “Umuofia” where there existed so much promise, hope and enthusiasm for the future of this nation. Then there came the “angel we did not know” who promised us even more, and the ambition to transform this country overnight. When it started everything seemed to be going on smoothly, and when the cracks begun to show, civil societies and organizations protested against it.

Nonetheless, as “Umuofians”, we thought it wise to give them another opportunity and so renewed their mandate despite the backlash of allegations. Now, today, the center cannot hold and things have fallen apart. Our leaders that were touted to us as the “best”, seem to lack the conviction and worst of us with “passionate intensity” are still cheering for “Umuofia”. A broken nation, crippling the dreams of its young people.

Even the dreams and peace of our aged have been broken, our protests, anger, cries and pleas have fallen to deaf ears all because of the intransigence of our leaders. Hypocrisy reigns and the people of “Umuofia” are weeping silently and at crossroads. We are now sacrificing our pensioners and their investments. When we have been asked to tighten our belts, it seems some of our leaders through greed, corruption, and near malice for the good people of this country, have created wasteful ventures to spend our money.

The Auditor-General’s report was just a tip of the iceberg of harvest of corruption when it was discovered that Government used nearly 50 percent of the money the state mobilized to mitigate the Covid-19 pandemic  for budget support and not issues related to the pandemic. Even traditional authorities such as Chiefs, were paid more than GHS605,000.00 from covid-19 funds and the Ministry of Information took risk allowances totaling GHC811,800.00.

The juxtaposion of the incessant corruption has brought us to this debt exchange program. A program which is expected to help restructure the debt of this nation by sacrificing domestic bondholders and their investments for new ones. The problem, however, is that these new bond arrangements will mature in later years (2027, 2029, 2032, 2037). The value of these bonds is even expected to devalue meaning person’s will not recoup full benefits of their initial investments.

 Moreover, the government through the Ministry of finance had assured the people of this nation that individual bondholders will not be affected. But the nation woke up to a swift turn in direction as pensioners who hold bonds were announced to be affected by the debt restructuring. In a nation where there exist no schemes to support the investments of the aged, we must bow our heads down in shame for the current turn of events. How do we expect pensioners to enjoy their retirement after several years of commitment to this nation? How will they recoup their benefits for the next five years?

Some of these retirees in venting out their frustrations at the forecourt of the Ministry of Finance, recounted how they are bedeviled with medical conditions and illnesses associated with old age. With a National Health Issuance System which is on the brink of collapse, how do we expect them to get access to robust medical care?

 In the midst of all this, as a writer I wonder with much contemplation on the economic management team of this nation which was touted to have the “best men”. It was to be headed by a Vice-President who we believed was our economic messiah due to his Doctorate in Economics. Today, in the midst of the struggles and anger of our country men, these individuals are silent on the economic fortunes of this nation. If their voices have left them, we know not.

But we know for sure that the “falcon cannot hear the falconer” and as this spiral of damage continues, the younger generation will continue to lose hope in the fortunes of this nation. It is not too late for the finance minister, the Vice President and the entire Economic Management Team to resign and give way for broader stakeholder consultation on the fate of this nation’s economy. They have failed woefully because they sold the ordinary Ghanaian a fanciful dream of promise that they did not live up to.

Renewal of trust in the fundamentals of governance is highly important, but if hyenas that eat the lion’s share are still in charge, how then will change seep into this nation? The people of this nation deserve better than this, this was never the bargain. But then as “Umuofians”, maybe this time is to reflect on the poor choices we made and how we allowed our hard-earned democracy to be defeated.

The year ahead might be hard and seem to be quite reminiscent of the 1970’s and 1980’s. Nonetheless, there still exists light at the tunnel. I can only pray that this nation gets the much-needed emancipation it deserves soon enough before a cataclysmic turn of events.

Azantilow Zizi