please please. please. please please click on your full complement of wachovia bank news all the face you know loan. look. a pleasure to have you with us here today. lead.

please. please. lead. in the beginning of two thousand and thirteen the capital of ghana was named

africa's fastest growing city. proof of this weathered dozens of cranes dotting the horizon satisfying the demand for new modern offices for both local companies and banks and multinationals. expensive cars roam the streets. shiny moles filling the consumer dreams of the capital's affluent people. again as economies thriving. the country is among the world's fastest growing economies and is africa's number

one and growth rates. for the i.m.f. ghana is a success story. successful. is really to advise a micro party she's so we we do not we do not construct bridges and develop infrastructure but in term of my quest ability clearly over the last. few years have done quite well in terms of generating an environment of macroeconomic stability which is necessary to have investment and growth and job creation. ghana's current economic success could not have been accomplished without the newly received loans the last loan agreement between ghana and the i.m.f. was in two thousand and nine for the sum of six hundred two million dollars at that

time the country experienced some fiscal slippage is and depletion of its international reserves which was a combination of increased public spending but also. the side effect of the global financial crisis so we used the reduction of reserves at the central bank to increase the deficit there was a need to. provide some financing. to crises and had to authorities. to make balances. ghana's dept exploded to a new record high reaching fourteen point six billion dollars we talk about credit facilities as if. it doesn't have to be paid back but our children and grandchildren will have to pay is that and i think it's almost like selling the family silver. you do kind of did not. find as lead economic management has been

they. and their religion of african lives and and m.f.'s on so forth and every so-called group is seen as a success which therefore should feed that process even. one of the fastest growing economies not just in africa but in the world last year. one of the effects of that is that you so you wouldn't you would think that a of economy is growing it has greater independence it has great space. and resources to invest in the things that it needs to you know transform its economy and transform the conditions of his people i mean that's it was what any logical thinking would be however in our case that is what is happening.

all over. the room. after finishing her chores in the morning comfortable cutty prepares her grandchildren for school she is a primary school teacher at paga a small agricultural community in northeastern ghana. was. this is the primary school every tree is

a classroom there are two hundred ninety one children studying here while. i. was there. many of them have to walk at least five kilometers to get here. was. the second largest gold producer in africa cannot provide classrooms to sauza as of children. in ghana four thousand schools have no facilities the lessons like here take place under the trees. we do house structure. we are teaching under three s. and because of that there is no in the effective teaching and leno. especially when

ever it is threatening to rain we have to run home and wended the cheese sharing the same problem and there wouldn't be snow or dad not being effective teaching and then in the course of the sun when it is hawt. feel confortable to listen and to check on will also feel comfortable to teach. me. no toilets no place materials. and other infrastructure. to decide the problems we're facing to school and i'm not a problem as what a problem. we don't have what. so anomalous about three kilometers or four kilometers for the top will drink the water and when it's voted to school there are no reasonable continues for us to sort it. because of what they

did a government will always complain and promise but nothing has been. one of the i.m.f. conditions to sign the loan agreement of two thousand and nine was a cut in public sector spending ghana's education system has been affected dramatically. well. in order for the government to reach its goals for deficit reduction it decided to cut almost thirty one million euro from the education sector. the building of new classrooms and facilities would have to wait. the government's absence is covered by the community members who raise money in order to build classrooms in any way they can. miss comfort was a leader of this afeard and invested all her savings. me.

i. my own i was i have decided to mobilize. to help me with some money to put up a classroom i've used my own money in addition to discount amount that was contributed by the community members to put up one classroom block who was who i was. and now some of the children. lemon and that one classroom and the other classes sitting under trees. yet. so whenever it is raining is even if it is threaten to rain we dismiss the children to. drive

years forms india rain and then when it is more a much this nor should. we all get that in one classroom we can use in lots and thanks reforms to. the recruitment freeze in the public sector another one of the i.m.f. stipulations for signing the loan agreement had an instant impact on the quality of ghana's education system. according to the country's education department in order to cover the teacher shortage alone in primary schools thirty three thousand one hundred eighty five teachers are needed this is something that will never be approved but pick. your. battles here in northern ghana there is one trained teacher like comfort for every one hundred seventy. five students. i know

you look at you you. know and again the inhabitants try to do whatever they can on their own vacant teaching positions are covered by parents or volunteers. that are. here. the only way. we have monitress improvement in both somebody. who suffer the. war and they can provide that cheating with nutrition is for them. when the mother complain. and there is that add. that. many. end of finance. education in government. it's not enough to cover all of this the. trees. the good in

some but you do in forth need. gotten out and almost promised to do it but definitely it come to a head it's. the old. grouch. you know sometimes you see a story and it seems so for you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything you thought you knew you don't know i'm charging welcome to the big picture. the.

me is me to. believe. if it possible to navigate the economy with all the detail sophistication misinformation and media hype you up to date by decoding the mainstream how to state if in your ranks.

when i return home from school i read a little and then go to the river to get water then i go to the forest to gather wood and then i cook. or i have a lot of chores and can't study during the day i usually study at night. i study with a flashlight because the community has no electricity. it's difficult studying that way. sometimes someone needs

a flashlight and i have to wait until they finish. and that makes it difficult for me to study. and i wish we had electricity's so i could study comfortably. in the future i want to become a useful person. i want to become a nurse. so . citizens of the new state of god gathered all

the celebration marking their day of freedom from colonialism what was once the gold coast a british colony now becomes an independent commonwealth vice president and mrs nixon represent the united states at the three day festivities and native dances and games mark an event of historic importance since gonna becomes the first negro colony in africa to gain its freedom. in one thousand nine hundred fifty seven ghana gained its independence from the english ever since there has been a love hate relationship with the i.m.f. . from one thousand nine hundred sixty six five governments have received loans power has changed hands many times after so many coups. the first to approach the i.m.f. in one thousand nine hundred sixty five was ghana's first president and independence

leader. as a marxist he was quick to reject the funds conditions he was overthrown a year later. but in many countries the red dry made battle plan have prayer. and drama rama and brandon well i. would be appalled ruler about a country. the national liberation council government that came to power signed the loan agreement with the i.m.f. and accepted the conditions. of. the economy made a spectacular rebound and at the same time product prices increased. but kick our

exports did not yield the expected revenue in one thousand nine hundred eighty one after the fun's recommendation the currency was devalued by forty six point eight percent there was a wage freeze and taxes were increased. a year later general a chum pong for through the government. the governmental general attempt to. unilaterally. decided not to pay the debts that's gonna government to that and if it was a little over ninety million dollars and. the general at the point took the position that it was something we couldn't be. and we pushed for self-reliance and that was the message that he was giving to ghana and i think he made an impact unfortunately the price of oil hikes soon after that

pushed doesn't back into economic decline and we ended up going back to the i.m.f. for a loan that was after the coup the through a chump amount and it's an interesting paradigm that seems to be. an almost on holy link too good a time as. an economic downton's and then a falling back on the i.m.f. as almost as a c.v.s. . drop africa in the one nine hundred ninety eight you want you we had what you call

i.m.f. rats which is the price of food going up as well as before and that kind of is the ability yes it has to be the backdrop to a lot of the. many more reasons of course by the critical reason has been that the how to secure a growth model which you know if unifies the my joy section of the ruling class number one. which which reduces deflates the political expectation of the population number two. is also to tell people that your political expectations about what you can get on a realistic you can get free education you can get public housing you can get a good pension from the public sector you have to go out in the market and fight for yourself. and if you look at the history. that the stratagems have been the scene it's about. devaluing the cd it's about.

fiscal. restrictions it's about restricting the government's wage bill it's about privatization or divest investing in government factories these are the same things that they do time and again and i do wonder. whether if you keep doing the same thing over and over again and the country doesn't move out of poverty if there isn't a need to rethink what you do well let me maybe quantify what you said and clarified. actually over the last decade what we've seen in africa and ships are in africa. is extremely encouraging in terms of microcosmic polish if. we can say that over the last decade michael polley she's in most of us are in africa has improved. substantially with an emphasis on my quest to be

a key and on generating what we called buffers. i grew culture is one of ghana's most productive sectors. here in the north however it is the only way to survive. glenn doesn't give much. and we use the same old varieties our grandfathers did on.

them they don't really give a good harvest. women who brought you with only so many jewels come to help us. number but no government official has ever come to visit us. yeah. only the ngos teach us how to improve how to improve our methods. one doesn't come to teach us. for the ministry of agriculture used to provide us with fertilizers but now they have stopped. moving well now they never visit us like they used to.

i don't understand why the government isn't helping us. with the. yes well that food sufficiency has its ups and downs. there are times of abundance and times when there is not enough food for the community. to have the periods of hunger along that is when the food prices hit the roof twentieth well. that is one mill it costs ten cd for your local this is a time of great hunger.

government cutbacks would mean for example in the case of i could culture that all kinds of subsidies are essential extension services they all come and all those things affect everything becomes a small form a kind of buy those things they can produce as well so most of the farm is actually really home picked himself. in the farmers some of them not able to keep up with after the new school because they do look in the ribs in the shop or the feed in sales into extra to support and so they have ways and then to support their children in that occasion.

more like. the.

wealthy british soil. sometimes that's right let's go. to market why not. find out what's really happening to the global economy with mike's culture for a no holds barred look at the global financial headlines tune into the reports. claim. that was a new alert animation scripts scare me a little bit. there is breaking news tonight and we are continuing to follow

the breaking news. the alexander family cry tears of joy and a great thing that. he had read dark at a court found alive there's a story made sort of movies playing out in real life. please . well if you're going to watch these college face i think you're right. it was. a pleasure to have you with us here on t.v. today i'm.

a long time are going to washington d.c. and here's what's coming up tonight on the big picture this morning bradley manning received his sentence for leaking classified documents to wiki leaks but what about the people behind the atrocities that manning brought to light were just their punishment should we be throwing them in jail too also three hundred tons of highly contaminated water a leak from a storage plant at the ravaged fukushima nuclear power plant how much when worse the situation for the shaman need to get before the world finally says no to nuclear power and more than a thousand egyptians have been killed since the egyptian military began its brutal crackdown.