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Ghana's tough week in football catapults into politics with sliding economy

Published on: 30 June 2014
Ghana’s natioinal soccer team coach Kwesi Appiah and player Christian Atsu ahead of their 2014 World Cup Group G soccer match against Portugal

Poor Ghana.

Last week news that Moody’s Investors Service lowered its sovereign rating by one notch from B1 to B2 and maintained its negative outlook.

For Ghana, it was just the latest blow in a week full of them.

The country’s woes began Thursday when the Black Stars, Ghana’s national men’s soccer team, expelled two of its star players, Sulley Muntari and Kevin-Prince Boateng, for launching verbal and physical attacks against team management.

That put the team in a tough spot ahead of its do-or-die game against Portugal at the World Cup

A half hour into the game, Ghana’s slim chances of advancing took a hit when defenceman John Boye saw the ball spin off his leg and into the net – a demoralizing own-goal.

Sixty minutes later the team’s World Cup hopes were dashed as Portugol won 2-1.

Today’s credit rating downgrade was largely driven by two factors. The first is a high and rising debt burden that has led to greater interest expenses.

Ghana’s interest payments have increased from 14% of revenues in 2012 to 23% in 2013.

This has triggered the second main cause: higher exposure to event risk due to the government’s surging financing needs.

An early World Cup exit and an ominous financial forecast – it is sure to be a somber week in the West African nation.


This article has 1 comment(s), give your comment
  • selfmade says:
    June 30, 2014 12:19 pm
    When Nigeria failed to qualify to the second round of the 2010 WC, their president took a bold step by threatening to dissolve the whole team etc etc and from the look of things, it seems their football association has taken a new direction and they have gone on to win the AFCON and qualify to the knockout round in the WC! Is our president a toothless bulldog or a coward? Maybe he is not but from the look of things, he is showing us how timid and indecisive he can be! U have struggled ever since u became the president and struggling for acceptability among Ghanaians and this WC fiasco is a perfect opportunity for mister president to seize on to restore dignity to his name and calm Ghanaian nerves!! Maybe our president is not a born leader at all because a born leader seizes on opportunity like this esp during tough times to immortalize his name! This president has been going to other countries to promise them of his services but back home, his own backyard is burning! How can u solve other people's problem when u haven't solve home yet! Abraham Lincoln was a damn racist but when the liberators were losing their independence war and they needed a backup, he intelligently made black people free to fight for them and also be part of the war in order to finally abolish the slave trade and that's what born leaders do! The country is down skidding and the center cannot hold but u can do the will of the people by FIRING ELVIS ANKRAH for people to be happy! People are pissed off and he should use that man as an example to show his powers! Mister president, presidency is just like a pregnant woman and there is a BIOLOGICAL CLOCK ON IT AND IT TICK EVERY SEC, MIN OR HOUR!