A Low And Stable Inflation Rate

Decent Essays

For several years, the western world or the world’s most developed countries have always perceived Africa as a place of impoverished citizens, who have little to no knowledge of fending for themselves. Thus, the need for aids, food, clothing and the like to be shipped to these areas to help cater for the poor standard of living. In several discussions on how to alleviate poverty, it’s always been a question of empowering the locals to confront their problems, even though the execution has always been left for criticism. However, being able to achieve and sustain a reliable economy that alleviates poverty in these localities should be hinged on the implementation of effective and realistic policies, which mitigates the problem from the grass roots. The maintenance of a low and stable inflation rate, reduction in maternal and child undernutrition, and initiatives to ensure sustainable living standards and health, extensive education and access to obtaining credit among the people of Ghana and the provision of agricultural inputs to boost their yearly yields are some of the positive outlooks that can help reduce poverty.
When it comes to living standards, the government should be in the position of preventing the negative correlation effect of increases in the inflation rate. For example, in the 1970s and 1980’s the Ghanaian economy experienced high inflation rates without a corresponding increase in the nominal wages of able-bodied workers (An Assessment of Poverty Reducing

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