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Tag: economics

  • At 35, I’m Struggling with Unemployment After Losing My $4,000-a-Month Director Job

    At 35, I’m Struggling with Unemployment After Losing My $4,000-a-Month Director Job

    Having a large team, a voice in major meetings, and strong relationships with business partners, I comfortably earned VND100 million (US$3,830) a month as a director despite lacking technical knowledge.

    I am 35 years old and currently unemployed. That may not sound too unusual in today’s tough economic climate and fiercely competitive job market. But what makes it hard for me to face the music is that I once held a role many would see as successful, stable, and even enviable: director of planning at a construction company.

    I used to think so too. With a high salary, a large team of subordinates, and influence in key decisions, I felt secure in my comfort zone. I managed work and led people based on experience and instinct while relying on soft skills to cover what I lacked in technical understanding.

    But I forgot something important. The world keeps changing, and people who do not adapt eventually get left behind. I was never adept in my field of expertise. I did not fully understand construction techniques, was unfamiliar with software used in the field and lacked a strong grasp of project finance. My strengths were only macro-level planning and people management yet I never made an effort to deepen my knowledge beyond routine meetings and routine conversations.

    I prided myself on being “good at managing people,” thinking everything would be fine as long as I gave the right instructions to my subordinates. But I seriously underestimated the importance of self-management and personal development. Then the company was restructured. My division was downsized and I
    lost my job
    .

    I expected someone in senior management to step in and keep me, given my experience, but no one did. I thought I could easily find a similar position elsewhere, but I was wrong. Companies do not want a manager who only knows how to oversee people without any technical capability.

    I suddenly had no idea how to start over. At 35 and having been in a director role, I not only lost my job but also my sense of direction, self-worth, and confidence.

    In the early days of unemployment, I could not bring myself to go on social media. I avoided people. I struggled to talk to my wife and children without feeling ashamed. I am writing this now to remind myself that no one is indispensable in the corporate world.

    Do not assume your past achievements or former connections will always protect you. If you are in your 30s and leading a team, but do not fully understand the work they do, start learning again while you still have the time and opportunity.

    Being unemployed at 35
    is not the end of my career as I will not allow myself to give up. But this is the clearest wake-up call I have ever had, and one that others in similar situations should not ignore.


    *The opinion was translated into English with the assistance of AI. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.

  • Speculation of Cedi Depreciation Over July Eurobond Payment Unfounded

    Speculation of Cedi Depreciation Over July Eurobond Payment Unfounded


    By Joshua Worlasi AMLANU and Ebenezer Chike Adjei NJOKU

    Speculation of a looming cedi-depreciation due to the upcoming US$349million Eurobond interest payment in July may be far-fetched as the\xa0 development poses no threat to the nation’s foreign exchange (FX) stability, a source close to the matter has asserted.

    Concerns have mounted that the payment, coupled with ongoing geopolitical developments, could see the cedi lose gains made over recent months.

    The local unit has appreciated by 43 percent against major trading currencies between beginning of the year to mid-June 2025.

    In response to recent commentary warning of an impending “FX storm”, the source stated that those concerns are exaggerated and misaligned with Ghana’s present macroeconomic conditions.

    According to the source, a Eurobond payment scheduled for July 3, 2025, has already been factored into BoG liquidity and FX management frameworks.

    “There is no risk of market disruption. Ghana’s reserves as of June 2025 stand at over US$11billion, equivalent to five months of import cover. These buffers have been built strategically, not by accident,” he explained.

    The bank expects FX conditions in July to improve with confirmed inflows totalling at least US$730million. These include US$370million from the International Monetary Fund (IMF), contingent on Executive Board approval of the current support programme’s fifth tranche on July 7 and an additional US$360million from the World Bank’s Development Policy Operation, expected by mid-month.

    “These inflows will more than offset the Eurobond outflow, ensuring reserve levels remain comfortable and that there is no liquidity vacuum in the FX market,” he stated.

    Inflows from the BoG’s Gold-for-Reserves (Goldbod) programme act as further support for the cedi. The programme, launched to diversify FX sources by leveraging domestic gold purchases, has contributed significantly to the nation’s external position – especially amid high global gold prices.

    The country posted a trade surplus of US$4.14billion in the first four months of 2025 – five times the surplus recorded for same period 2024. The current account recorded a surplus of US$2.12billion in the first quarter.

    “These are not\xa0 ‘cosmetic’ numbers. They reflect real activity, grounded in sustained policy reforms, external credibility and improving investor sentiment,” the source noted.

    While some analysts have attributed the cedi’s appreciation against major trading currencies to artificial support, the BoG official cited four structural factors: tight monetary policy anchored by a 28 percent benchmark interest rate, improved FX supply from exports and gold purchases, fiscal consolidation and stronger investor confidence, buoyed by the recent credit rating upgrade.

    Though acknowledging that external risks remain, including potential declines in gold prices and possible remittance headwinds due to a proposed 5 percent U.S. tax on outward transfers, the bank argued that institutional resilience has improved markedly.

    “The FX market is better regulated today, with stricter enforcement of pricing, transparency and transactional discipline,” he noted.

    Calls for a fixed exchange rate regime have been dismissed, suggesting they are inconsistent with Ghana’s inflation-targetting framework. He maintained that BoG’s flexible exchange rate policy remains the most appropriate approach in an uncertain global environment.

    “Pegging at this stage would be not only inconsistent with our policy framework but also risky in a world where flexibility is the best shock-absorber,” he said.

    It is expected that July will not expose weaknesses in Ghana’s FX structure but rather demonstrate the central bank’s preparedness to meet obligations without destabilising the market.

    “More broadly, the narrative around Ghana is changing from one of crisis to one of cautious but credible stabilisation,” he said.

    “This is not merely due to external support. It is the outcome of difficult domestic decisions, consistent coordination between monetary and fiscal authorities and a renewed commitment to transparency and investor engagement,” he added.

    Inflation, at 18.4 percent in June 2025, continues on a downward trajectory while interest rates, though high, are expected to ease as inflation moderates.

    “There is no FX storm expected in July. There is a calm backed by reserves, policy discipline and credible inflows expected,” the source insisted.

    Provided by SyndiGate Media Inc. (
    Syndigate.info
    ).