Economic crunch: We have super incompetent persons in government – Prof. Raymond Atuguba

Professor Raymond AtugubaW3EFRTGYH Prof. Raymond Atuguba

Wed, 20 Jul 2022 Source: www.ghanaweb.com

Government initiates contact with IMF for a programme

Ghanaians lament increased cost of living

Professor Atuguba says Ghana's debt to GDP nearing 100%

Dean of the University of Ghana School of Law, Prof. Raymond Atuguba, has taken a dig at the government and persons put at the helm of affairs over an economic meltdown.

In his view, the managers of the economy are super incompetent leading to the challenging times the country finds itself.

Speaking at the 4th Triennial Conference of the Ghana Studies Association (GSA) under the theme “Ghana at Crossroads” held at the University for Development Studies, Tamale, on July 18, Professor Atuguba cited the general increase in cost of living as basis for his assertion.

“We are experiencing the worst economic conditions in the last 30 years, at least. Whether this is caused by internal or external factors, is really beside the point.

“What I know is that the quantity of Hausa koko I used to buy at 2 Ghana cedis is now 4 Ghana cedis, without sugar. The kose that was recently 20 Ghana pesewas and 50 Ghana pesewas is now 1 Ghana cedi. Aba!

“My fuel tank that used to fill up at 400 to 600 Ghana cedis now fills at 1,500 Ghana cedis and over. Ewuradi hunye mobo; Nawuni sungti (God have mercy on us),” he lamented.

According to him, persons placed at the helm of affairs have borrowed excessively with the country’s debt to GDP ratio nearing 100%.

“We have landed where we are today because we have super incompetent persons in government, who have borrowed so much our Debt to GDP ratio is almost 100%. And who, if we are to believe their own first Special Prosecutor, and given his track record there is no reason we shouldn’t, are serpents and mother serpent of corruption, who have stolen so much they are unable to leave office for fear of what might happen to them and their booty, hence the need to “break the 8”” he added.

Ghana has recently experienced a downturn compelling it to initiate contact with the International Monetary Fund for a programme.

Economists have pointed to increased cost of transportation, fuel price hikes and other essentials as basis for their claim of economic hardship.

The government has also blamed partly the challenges on the ravages of the Covid-19 pandemic and the ongoing Russia-Ukraine war while promising to introduce measures to address it.

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Source: www.ghanaweb.com
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