International Economics: IB Economics

This IMF clip looks at how IMF help, and a stabilization programme worth $1.2bn has helped Ghana adopt structural reforms and improve its economic performance. 

The metrics look impressive: growth looks more resilient, inflation is rapidly declining, the economy's fiscal and external positions improved and the Central Bank has boosted its forex reserves. In theory, this should improve the economy's developmental prospects, but you'd have to ask the citizens of Kumasi, Ho, and Takoradi whether that's the case or not. .

This World Bank clip highlights how the REDD+ programme is helping Ghanaian cocoa farmers operate in a more sustainable manner, and in doing so generating carbon credits that will ensure that they are able to meet climate change targets and also participate in global carbon markets.

Another World Bank clip looking at the importance of mangroves as a way of promoting biodiversity and stopping environmental degradation and depletion in Ghana. By focusing on this vital resources, the Ghanaian government and World Bank can promote sustainable development via the PROBLUE programme.  

This World Bank clip looks at the impact of climate change on Ghana and the areas that it can look to foster sustainable development, via increased infrastructure resilience, and a number of other changes.

Unsurprisingly, the key to all of this is strong and stable institutions - a key determinant of development. 

There's concern that the UK isn't going to be in a position to sign off on trade deals with some African trading partners in the next few weeks, meaning that their exports are going to be hit with tariffs at the start of 2021. Additionally, the cynical view, is that the government is intending to use this threat to drive a particularly hard bargain with Ghana and Kenya, which depend upon the export of primary products for a large portion of their export earnings.

Of course, were this true, it wouldn't be the sort of thing we'd baulk at the EU doing, would it?

Have you ever wondered what the IMF does? If so, then this clip is for you. It looks at how the IMF partnered with Ghana to help it overcome an economic crisis and help guarantee fiscal stability, in the face of profligate government spending attempting to curry favour with voters. 

A must watch in my view: it shows how international institutions can sometimes be more valued than a country's own politicians. 

A Ghanaian entrepreneur has started selling an electronics kit which he hopes will revolutionise STEM teaching in Africa, and encourage more children to become scientists.

It highlights how important education is to development. Without more scientists, Africa is unlikely to meet its Sustainable Development Goals (SDGs) regarding sanitation and access to clean water.

Much like Nigeria is facing an economic crisis of sorts, so too is Ghana, where there are allegations of financial mismanagement by the central bank governor, including illegal printing money to finance government spending, and in doing so, fuelling high inflation and a sizeable government debt, which his accounted for 70% of government income to service its debt before it defaulted on it. 

It's a sorry tale, which has plunged yet more ordinary Ghanaians into poverty and adversely effected the whole nation's development prospects. 

This World Bank looks at the impact of a variety of things on the livelihoods of Ghanaian fishermen, most notably climate change and plastic waste polluting the seas. It highlights the attempt being made to tackle the latter, in particular, allowing for sustainable fishing going forwards, and enhancing developmental prospects. 

Campaign group Debt Justice have uncovered evidence suggesting that a hardline position being adopted by five large private sector creditors, including US asset management company, BlackRock is hindering them being granted debt relief by some of the world's largest international financial organisations. 

As a result at the moment, only Chad has been granted debt relief under the current framework but Ethiopia, Ghana, Sri Lanka, Suriname and Zambia have not. 

An important development clip - looking at the value added at different stages of production, noting that whilst Ghana grows 1 million tons of cocoa, it only receives 2% of the profit. Ghana and Cote d'Ivoire supply 60% of global cocoa.

However, the value added in producing cocoa is minimal - it is in the processing and manufacturing of chocolate that the greatest value is added and this explains why chocolate manufacturers make such substantial profits, and to some extent that's at the expense of the producer.  

Crikey! Having seen my YouTube subcriptions this morning, there's lots of new World Bank material, starting with this clip which highlights the positive developmental effects of rolling out a solar-powered mini-grids, to help bring sustainable electricity to 10,000 Ghanaians along the Volta River.

Wowsers! If there's another clip likely to win 'scoop' of the day, this sets the bar pretty high. It's a fantastic developmental clip looking at the importance of information in generating efficient markets, as well as highlighting the developmental power of technology.

Esoko, a Ghanaian start-up, is providing up-to-the-minute pricing information to Ghanaian farmers, empowering them, enabling them to get a fair price for their crops and taking power away from the middleman.