The misleading publicity is excessively - Economist on Russia-Ukraine war, COVID excuse
Dr Theo Acheampong has expressed that the beginning of Ghana's ongoing monetary difficulties originates before the COVID-19 pandemic and the Russia-Ukraine war.
As per the market analyst, there has been a lot of publicity in endeavors to legitimize the underlying drivers of the ebb and flow financial emergency which has truly impacted the costs of labor and products.
In a Facebook post, Dr Acheampong highlighted accessible information to back his case while stressing the requirement for a fair discussion about the reasons for the ongoing emergency and its potential arrangements.
"Anybody who cares to take a gander at the information will reach the resolution that the difficulties with the Ghanaian economy can't be exclusively credited to the Russian-Ukraine war or COVID. The promulgation is excessively. We face an approaching obligation and equilibrium or installments emergency and need a genuine discussion as a country on the most proficient method to escape this wreck, regardless of the IMF," he composed.
Talking on the Saturday, July 9, version of Joynews File, Dr Acheampong depicted Ghana as an obligation addict brought about by over the top getting.
As per him, Ghana's ongoing financial emergency is vigorously established in the public authority's relentless mission to get, combined with crazy spending and an absence of powerful income age.
"We have become obligation addicts," he wailed over on Joynews Newsfile.
Following quite a while of chiding the John Mahama government for looking for a bailout from IMF and promising never to do same, President Akufo-Addo and his administration notwithstanding promoting trust in local arrangements and their unapparelled capacity to deal with the economy turned around on July 1, 2022.
The president approved Finance Minister, Ken Ofori-Atta to initiate formal commitment with IMF to help the nation's economy. Albeit the public authority recognized the demolishing financial condition, it has demanded that, dissimilar to John Mahama who bungled the economy, there is a worldwide emergency - a justification behind backtracking.
"The homegrown program which would have empowered us to manage it has had its own difficulties. The president has asked that we open the IMF window and begin commitment with the asset. How about we offer ourselves the chance to go through it," Information Minister, Kojo Oppong Nkrumah contended on the Citi Breakfast Show.
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