Neither Covid nor Russia-Ukraine war caused the economic woes, it’s dishonesty – Economist exposes government
Dr Ishmeal Yamson, an economist and governance expert during an interview on TV3 stated that he does not subscribe to the belief that the Russia-Ukraine war is the cause of Ghana’s economic woes. He said Ghana’s economy started having issues before Covid-19 struck before the war later commenced.
He indicated that Ghana’s debt situation was getting out of hand even before Covid-19 stuck the world, further revealing that Ghana has always resorted to borrowing before all these instances commenced.
The borrowing according to him, gave Ghana that bad reputation of not being able to settle its debt leading to investors losing trust in the economy.
He urged the government to get off its high horse and admit that its strategies to salvage the economy could not work hence the economic woes the country is facing.
Honesty, he said, is key in assessing what is wrong with the economy in order to come up with the required solution to put the economy back on track.
Lack of proper admission of what is wrong with our economy has also led to the government having a credibility crisis which is scaring investors away.
He further indicated that the Cedi depreciation has also cost the government its credibility, calling on the government to work assiduously to address the situation.
