Akufo-Addo's economic 'stupidity' taking Ghana nowhere - Prof. Hanke

Steve Hanke, a professor of Applied Economics at the Johns Hopkins University and founder and co-director of the Institute for Applied Economics, has commented on the recent 'ku me preko reloaded' demonstration.

The protest which saw hundreds of Ghanaians clad in red and black and holding placards critical of the government was called by a private legal practitioner, Martin Kpebu.

According to Prof Hanke, the protestors were right with the call for Nana Addo Dankwa Akufo-Addo, to step down as President of Ghana.

He said marching against what he called "the economic stupidity" of President Akufo-Addo was in the right direction because Ghana's inflation figures keep rising and is currently measured at 149%.

Prof Hanke noted that the economic policies by the government will take Ghana on a road to nowhere.

"Today, I measure inflation in Ghana at 149%/yr. Thousands in Accra marched against Pres. Akufo-Addo’s economic stupidity and a potential IMF bailout. The protestors are right. Pres. Akufo-Addo has taken Ghana on a ROAD TO NOWHERE," Prof Steve Hanke tweeted at 7.00 pm [GMT] on Tuesday, November 8, 2022.

Today, I measure inflation in Ghana at 149%/yr. Thousands in Accra marched against Pres. Akufo-Addo’s economic stupidity and a potential IMF bailout. The protestors are right. Pres. Akufo-Addo has taken Ghana on a ROAD TO NOWHERE.https://t.co/VN2u6UKblO

— Steve Hanke (@steve_hanke) November 8, 2022

Martin Kpebu speaks at protest

Kpebu led hundreds of demonstrators who marched through the capital on Saturday demanding the immediate resignation of President Akufo-Addo over Ghana’s current economic woes.

Addressing protesters during the march, he said: “We are dying; citizens are dying; citizens can’t afford food; citizens are starving all because of misgovernance by President Akufo-Addo.

"It never happened that you have a president in office and every time that the country borrows, the president’s family becomes richer; how? This can’t continue.

"We can’t borrow all the time and have Databank becoming richer all the time. Citizens have a duty as stated in Article 41 [of the Constitution] to ask the president to resign and this is not the first time that a president of Ghana is going to resign,” Martin Kpebu said.

PEN/SARA

Watch the latest edition of BizTech below: