Akufo-Addo's tariff increment plan is going to fall like a lead balloon – Prof. Hanke

Professor of Applied Economics at the Johns Hopkins University-USA, Professor Steve Hanke has yet again criticised the economic management of the Akufo-Addo administration.

This time, he is calling out government’s plan to reduce cost of living on Ghanaians as a means to only increase tariffs which have impacted on livelihoods and businesses.

Professor Hanke who has been an ardent critic of government’s across the world described President Akufo-Addo’s tariff increment plan as one that is going to fall like a lead balloon.

He further questioned the rationale behind's the President’s motive to increase tariffs while querying whether the idea was borne out of the conditionalities set out in Ghana’s 17th IMF bailout programme.

“Pres. Akufo-Addo’s plan to reduce the cost of living in Ghana = INCREASING ELECTRIC UTILITY TARIFFS. Akufo-Addo’s tariff increment is going to fall like a lead balloon. I wonder where he got that idea? The IMF?,” Professor Hanke wrote via the X platform (Formerly Twitter) on September 29, 2023.

MA

See Prof. Hanke's tweet below

#SaveGhanaNow: Pres. Akufo-Addo’s plan to reduce the cost of living in Ghana = INCREASING ELECTRIC UTILITY TARIFFS. Akufo-Addo’s tariff increment is going to fall like a lead balloon. I wonder where he got that idea? The IMF? pic.twitter.com/pL4PS5IKb8

— Steve Hanke (@steve_hanke) September 29, 2023