Franklin Cudjoe, IMANI Africa president
President of policy think-tank IMANI Africa, Franklin Cudjoe has suggested that government is responsible for about 70 percent of the happenings in the country due to what he says is chaotic mismanagement the economy.
According him, government must therefore take the blame for the developments in the economy which is currently under an IMF supported programme.
Making his submission on Accra-based Citi TV’s 'The Big Issue' show on October 7, 2023, the IMANI Africa president said, “About 70 percent of happenings right now are solely attributable to the government’s mismanagement of the economy. That is a settled argument. No political actor can refute that.”
“70% of the chaotic management of the economy is attributable solely to mismanagement. Let’s just accept it,” he emphasized.
Meanwhile, Ghana and the IMF on October 6, 2023 announced it has reached a staff-level agreement on economic policies and reforms to conclude the first review of the country’s three-year programme under the Extended Credit Facility.
This paves the way for the country to receive the second tranche disbursement of $600 million pending executive board approval from the Fund to restore macroeconomic stability and support balance of payments.
Government on its part, has occasionally attributed external factors such as global inflation, the COVID-19 pandemic and the Russia-Ukraine war for the economic crisis in Ghana.
But some economists and market experts have argued that is not the case as the data shows that government has largely borrowed to fund consumption related projects, leading to an economic crisis.
MA/AW
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