• Short Summary

    INTRODUCTION: Ghana's government claims to be making significant moves to restore economic and administrative stability.

  • Description

    SV Ghana's Limann and interviewer at desk.

    SCU President Limann speaking.

    SPEECH ON FILM (TRANSCRIPT) SEQUENCE 2: LIMANN: "Rather than taking panic measures, in the face of anarchic tendencies, we have managed to re-introduce law and order and some stability. These efforts have of course been made at a cost of enormous sacrifices and great patience by our people who have realised that we had no other alternative to this approach it we want to preserve our independence. We are far from solvency but we have begun to regain some respect and much goodwill abroad. After all, there is no country in the world without problems of some sort. Since 1973 when OPEC started raising the price of crude oil, several development projects have had to be ...shelved. As I have indicated already the importation of productive goods or equipment ground to a complete halt by 1975 because of the non-availability of foreign exchange to pay old debts and acquire machinery and equipment for any productive activities. The decline in cocoa production and price has therefore severely affected all other sectors of the economy, including the cocoa industry itself. We are trying to speed up the processes of granting prospecting and mining concessions without alienating any part of our country. We are also trying to modernise and streamline our tax regime in the growing mining sector. When completed, all these measures are bound to promote the tapping of our gold deposits which will eventually improve upon our foreign earnings capacity and a firm recovery of the economy. The present shortages as reflected in the shops result from inadequate supplies, a certain amount of consumer hoarding, and the desire of consumers to satisfy their long pent-up demand. The present measures already taken have led to some improvements and we hope that the situation will greatly improve still further in the not too distant future. During the past year, some people repeatedly have called for instant or magic solutions to these problems, but refused to use their own magic wands. The vast majority of Ghanaians therefore now know all too well that such magicians or critics have no practical solutions to our problems. We can win improved standards of living through the proper ordering of our priorities and honest, hard work. My administration has never minced words on the elementary facts of live and the present day world, namely that no one else owes us a living."


    Script is copyright Reuters Limited. All rights reserved

    Background: INTRODUCTION: Ghana's government claims to be making significant moves to restore economic and administrative stability. President Hilla Limann's People's National party was elected almost 18 months ago, after nearly ten years of military government. Doctor Limann says a firm foundation is being laid for the future. But for many Ghanaians, life is still desperately hard. An average government clerk has to spend four days' wages to buy a dozen eggs. A pound (half a kilogram) of sugar of a bar of soap can be bought for just three days work, and a low-power electric light bulb costs two days' pay. Almost every necessity of live is available in Ghana, but only at black market prices. One of the major causes of the high cost of living is the currency exchange rate. Officially, there are 2-point-7 Cedis to the U.S. dollar, but in recent weeks, there have been illegal deals at up to ten times official level.

    SYNOPSIS: President Limann has been speaking about the size of the problem he faces. He is confident that things will improve.

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    Reuters - Source to be Verified
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