The Weekly Insight writes that for the vast majority of underprivileged Ghanaians there have been no signs that their lot will improve in any significant way in the very near future.
Since January this year, all the indications have pointed to a very bleak future of increased unemployment, homelessness, malnutrition and limited access to social services such as education and health.
Food prices, which serve the best indicators of the health of the economy for most Ghanaians have shot up by more than 300 per cent over the last five months and they are continuing to rise.
"In January, an 'Olonka' of gari sold for ?4000 but it is now being sold at ?10,000. An 'Olonka' of maize which was selling at ?2000 in January is now available for ?5,000.
A ball of fante kenkey which sold for ?400 is now being sold at ?1000. The smallest ball of Ga Kenkey is now sold for ?500 instead of ?200 and the biggest ball is selling for ?1000 instead of ?300."
In addition to rising food prices, the prices of petroleum products have risen by between 60 and 67 per cent whilst utility tariffs have shot up by about 100 per cent.
Apologists of the Kufuor administration reportedly, say that the worsening economic conditions are the result of the plunder of state resources and the general mismanagement of the national economy by the Rawlings regime.
They claim that it will take sometime to stabilize the situation and put in place policy measures, which would arrest the decline and create favourable conditions for alleviating poverty.
Dr Kwesi Nduom, Minister for Economic Planning and Regional Integration said on a Television discussion programme that the enormity of the economic problems forced his government to opt for the Highly Indebted Poor Countries initiative, which is expected to free substantial funds for the implementation of a poverty alleviation programme which his Ministry has drawn up.
